Waters Wrap: On cybersecurity, regulators and ‘victim blaming’
In the wake of the Ion hack, regulators are pushing for firms to beef up their cyber defenses. Anthony says that they'll need to mind their words and tread carefully, as cloud, machine learning and open source take off.
At the tail end of January, Ion Group was hit with a cyber attack that left banks and clearing firms around the globe scrambling for workarounds and calling their lawyers. By mid-March, users were still demanding answers for what exactly went wrong.
It’s a simple fact that when it comes to cybersecurity, financial services firms will always be on the back foot. According to sources we spoke to during and after the hack, Ion wasn’t very transparent and communicative in the two months after the
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