THE CENTRAL BANK OF BARBADOS is working with other regulators and its licensees to fortify the financial system against “inevitable” cyber attacks.
Tamara Hurley, Deputy Director, Bank Supervision at the Central Bank, gave this assurance yesterday as president of the Barbados Chapter of the Information Systems Security Association, Anthony Harris, warned that “the prevalence of cyber security attacks has increased exponentially”.
They were speaking during a Central Bank online discussion on Not If, But When: Managing Cyber Risk In Barbados’ Financial Sector.
“We can’t completely eliminate cyber risk, . . . it is here to stay but we recognise that entities can put in place mechanisms to reduce the exposure and minimise the potential impact of cyber threats on their operation. And that really is essentially the crux of the guideline,” the deputy director noted. (SC)
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