Why Cybersecurity is a Huge Concern for Wall Street

Inside Sources , 10/21/2016
News Feed

“Wall Street is a central hub when it comes to global financial trading, where the threat of cyber attacks is a serious concern.

The U.S.’s financial heart is a prime target for the constantly evolving array of potential cyber attacks. Cybersecurity is critical, as an attack could have huge economic and financial consequences.

“There is no 100 percent secure network out there,” Strategic Cyber Ventures CTO Ann Barron-DiCamillo told InsideSources. “You have to defend against a million exploits but an adversary only has to find one. Those are bad odds for defenders and knowing that you really have to build in resiliency into your systems.”

The New York Stock Exchange is the world’s largest by total market capitalization. Manhattan is also home to the NASDAQ, which is the second largest exchange. Exchanges all around the world face major cyber threats perpetrated for a wide range of reasons.

“The risks of failure are extremely high,” Cyber Investing Summit co-founder Andrew Chanin told InsideSources. “I think stock exchanges and financial institutions have been extremely proactive over the last several years realizing what’s at stake with failure. That being said a lot of solutions aren’t developed proactively. It’s done reactively….”