Many businesses and industries are understandably shaken up following two major cybersecurity incidents, one in May with ServiceNow and another in July with CrowdStrike. The financial services industry is no exception. Compliance experts are encouraging industry professionals to make back-up plans and prepare for the possibility of future events of the sort. David Tang was quoted in a Regulatory Compliance Watch article on the topic:
“For everyone else, maybe I wasn’t affected, but what could have happened? Am I so solely dependent on my IT provider, or any other single service provider, such that if the provider went down, it would render my business inoperable? We may have dodged one here but the next breakdown may not go so well.”
Read the full article authored by Bill Myers on Regulatory Compliance Watch. (A free account is required)