The Evolving Cyber Threat Landscape

In this article, we will briefly explore the increasing cybersecurity threat landscape, the various sources of threats, discuss the evolving regulatory environment and introduce some practical options that business leaders should be considering as they develop, enhance and refine their strategies to manage cybersecurity risks.

Over the last five years, cyber-attacks have become more sophisticated and increasingly coordinated. According to PwC's 2016 Global Economic Crime Survey, cybercrime jumped to the second most reported economic crime in 2015, with more than one in three organisations surveyed reporting being victimised by an economic crime. The financial services sector is a prime target and Cayman, along with the rest of the Caribbean should be acutely aware of the increasing threat.