Alongside the sad and vast expense of legitimate claims, it is an unfortunate fact that in times of economic hardship, people have a history of taking any opportunity to exploit financial institutions for ill-gotten gain.
Your best bet to avoiding the potentially exorbitant costs of a vendor hack is to not have one in the first place. A solid vendor risk management program, backed up by technology, policies, and procedures is the best protection. Good review and audit processes can catch any vendor-related problems before they become...
Cybercrime is a business and, like any business, it's driven by profit. But how can organizations make credential theft less profitable at every stage of the criminal value chain, and, in doing so, lower their risk?