provide a brief summary about the state of readiness of the

provide a brief summary about the state of readiness of the financial industry as it relates to cyber risk

Solution

In the last decade, there has been several changes which has taken place in the financial sector with respect to information security. Several data security measures have been implemented to ensure the financial data remains secure and confedential. United States Computer Emergency Readiness Team monitors the protocol for the same. Despite all these measures, there is still cyber risk of data being hacked and misused. Through several back up options and sites outside the company. It can be deemed that the financial industry is not completely ready to tackle the risks related to cyber fraud.