A Zero Trust approach to cyber defence for banks

Lim Teck Wee

THE turbulence related in part to the Covid-19 pandemic has brought about huge changes for organisations across all industries, often at the expense of being cyber-secure. According to CyberArk’s 2022 Identity Security Threat Landscape report, 82 per cent of organisations here prioritised maintaining business operations over ensuring robust cybersecurity. In fact, 77 per cent of the respondents agree that decisions taken during the last 12 months introduced new areas of vulnerability. 

The banking sector has not been exempt from the swift pace of environmental change, and banks have had to adapt very quickly to support the shift to remote work and digital banking services, all while having to adhere to evolving compliance standards.