• Nigel Hawthorne , Data Privacy Expert at McAfee


• 28.01.2019 11:15 am
undisclosed

It’s the eleventh year of Data Privacy Day, and notably the first since GDPR came into effect. Despite legislation that requires financial institutions to be more secure and transparent with their data, 2018 saw far too many data breaches in the sector. The majority of the attacks making headlines affected businesses or services that many of us use every day. 2019 should be the year where financial companies win back and build consumers’ trust. Data Privacy Day provides an important platform from which we can evaluate last year’s mistakes and look forward to what’s in store for 2019.”

Cloud adoption will be still high on the IT manager’s agenda. Traditional banks and fintech disruptors know the wide variety of benefits that moving to the cloud will bring - from improving IT flexibility to cutting costs to boosting productivity. However, our recent report found that 21 percent of all files in the cloud contain sensitive data, providing an attractive target for cyber criminals.

For organisations looking to migrate to the cloud with peace of mind, they not only need visibility of data and applications but consistent data and threat protection policies wherever they reside. Cybercriminals may be focusing more on the cloud than ever before but, when managed correctly, the cloud can be the most secure environment for banking and other financial services in 2019.