South African central bank puts cyber security on strategic agenda

cyber-attack

The South African Reserve Bank (Sarb) has included cyber security as a “cross-cutting” objective in its strategic plan for the first time, in response to the growing risk of cyber attacks.

In its most recent annual report, the central bank names five “cross-cutting” objectives, in addition to its main strategic goals. It has committed to “establish and embed cyber-security processes” within its core infrastructure by 2020.

As part of this process, Sarb has chosen to supplement its systems with

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Combatting the ever-changing cyber threats in banking

Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.

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