Cyber Security in the Financial Sector - Threats and the response

In today’s digital age, cybersecurity threats come from every direction, and criminals are finding new holes to exploit, due to the proliferation of apps, websites, and devices. Businesses and financial institutions that handle personal and financial data are deploying the latest solutions to mitigate their risk and keep ahead.

First Data, in partnership with the Luxembourg House of Financial Technology, organized an event dealing with cybersecurity in the financial sector that gathered 45 attendees. This session provided an overview of the latest tactics of cybercriminals and best practices on how companies can stay ahead of the growing threats. Tim Horton, VP Security and Fraud Solution of First Data Corporation, and Max Spielmann, specialist at the Luxembourg Law firm Schiltz & Schiltz and Lecturer at the University of Luxembourg, gave more information about how cybersecurity affects businesses and the legal and regulatory landscape around the topic.