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Apr, 2012

A report by PricewaterhouseCoopers has shown that there may be more jobs made available for IT contractors, as a direct result of financial  services companies being severely affected by cybercrime. 

The PwC report, called ‘The Global Economic Crime Survey’, has polled a total of 3,877 financial services respondents from 78 different countries.  The results have shown that half of them perceive the risk of cybercrime to have increased in the last 12 months, compared with 36% for other industries.

It is thought that the increase of apps created to access banking services and mobile phones to make payments, are likely worsen the situation due to the increased risks.

Andrew Clark, forensic services partner, PwC, said, “Cybercrime puts the FS sector’s customers, brand and reputation at significant risk. Regulators are increasingly viewing cybercrime as a key area of focus and financial institutions are expected to have appropriate systems and controls in place to fight this growing threat.

“We expected most organisations to have cybercrime incident response mechanisms in place. To our surprise, only 18% of FS respondents said they had in place all five measures specified in our survey.

“It appears that some FS organisations are complacent about the risks that cybercrime poses, in spite of serious concerns about potential damage arising from cyber threats.”

When a crime such as this happens, the first few hours are crucial and having someone on board who knows what they’re doing and can react quickly and decisively is key.  So it seems that IT contractors will be in high demand as the financial services sector try and put up a better fight against cybercrime.

Content via@SJDAccountancy

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