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The insider threat to financial services: Why a shift in mindset is required to combat this silent risk
Cyber Security: A Peer-Reviewed Journal,
6
(1),
34-40
(2022)
Abstract
The traditional mindset around insider threat is outdated and a shift is required to combat this silent risk. This paper describes the various types of insider threat, common cyberattack types that involve insiders and insider threat risks specific to mergers and acquisitions. From there, key elements of an effective insider threat programme are defined and resources involving existing guidelines and frameworks for how to get started building a proper programme are provided. This paper explains why insider threat must be taken seriously and why moving away from a network protection mindset is essential to improve cyber security protections.
Keywords: insider threat; financial services; cyber security; cyber risk; cyberattack; M&A/mergers and acquisitions
The full article is available to subscribers to the journal.
Author's Biography
Dave Harvey has more than 20 years of cyber security experience, specifically in countering advanced threat actors, developing cyber security resilience and responding to critical incidents. Dave leads FTI Consulting’s UK Cybersecurity practice, overseeing client engagements across a broad spectrum of industries and regional markets. He has extensive expertise providing independent board-level advisory and assurance, cyber security resilience and response engagements, in addition to guidance on post-breach complex investigations and in support of class-action lawsuits. Recent experience includes the development of target operating models and security assurance programmes across multinational clients. Dave spearheaded the delivery to support the establishment of the NHS Nightingale hospitals and has led a series of high-profile litigation investigations under legal privilege into some of the most significant data breaches worldwide. Prior to joining FTI Consulting, Dave served as the lead architect and then Head of Automation within Technology for KPMG UK LLP. During his tenure, Dave led a team of over 65 specialists in delivering digital transformation across a £10m+ portfolio including cloud-hosted artificial intelligence (AI), workflow, robotic process automation (RPA), data insight, and software development projects. Serving as a Senior Engineer Officer in the Royal Air Force, Dave specialised in secure communications and cyber security where he was responsible for incident response to major cyber events. He directed complex workstreams within the Defence Cybersecurity Programme and led cyber operations with key partner nations.
