Banks instructed to take greater care over data in turbulent times

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Secerno has warned banks to take tighter control over customer data.

Secerno has warned banks to take tighter control over customer data.

The company is predicting a rise in number of insider attacks as banks merge and are nationalised. It also claimed that data will also be vulnerable because of external financial consultants and contractors being brought in to manage the institutional change processes.

Steve Moyle, CTO at Secerno, said: “One of the main threats will be disgruntled employees who have lost (or fear losing) their jobs and may feel resentful of their organisation. This situation creates a very risky scenario as insiders feel that they have nothing left to lose. People should care for data the way that they care for their customers, and they should have their data under control.

David Lacey, security expert and author of Managing the Human Factor in Information Security, commented: “We are seeing more and more criminals use the financial crisis as a tool to access data for malicious reasons. The threat from employees should be a huge concern for the industry because not everyone is honest and many staff will be bitter. Banks must prioritise the security of customer records to ensure that consumer confidence does not dip any further.”

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