Rethinking Disaster Recovery
- Date:December 16, 2020
- Author(s):
- Tracy Kitten
- Report Details: 15 pages, 9 graphics
- Research Topic(s):
- Cybersecurity
- Fraud & Security
- PAID CONTENT
Overview
Disaster recovery plans must encompass strategies that outline the deployment of critical resources to maintain continual network and database availability. While financial services companies focus most of their disaster-recovery and business-continuity planning around responses to natural disasters, the losses associated with cyberattacks have the potential to cost institutions much more than a natural disaster. Businesses today face significant threats regarding ransomware, distributed-denial-of-service (DDoS) attacks, and employee negligence that places the stability of the enterprise in jeopardy when adequate provisions for recovery are not made.
This report reviews the challenges that financial services companies experience from a technological and organizational point of view, with an emphasis on recommendations to minimize the adverse impacts of restoring normal business continuity after a disaster.
Key questions discussed in this report:
- What unique cybersecurity risks do organizations face when they continue to rely solely on physical data centers for data backup?
- How are organizational structures weakened by siloed departments?
- What can cybersecurity professionals do to reduce their risks by revisiting and revising their business-continuity and disaster-recovery plans?
Methodology
The data in this report was primarily collected from a survey of 506 cybersecurity leaders conducted in May 2020.
Learn More About This Report & Javelin
Related content
Cyber Lessons for Mobile Banking: Connecting with Consumers, Framing Cyber Awareness
Javelin Strategy & Research sees an increased opportunity for cybersecurity awareness and engagement with consumers within mobile banking, where push notifications and alerts are a...
Wealth Accounts at Increasing Risk of Scams and Cyber Takeovers
Romance scams are hard to detect. Wealth management clients are often affected by the most devastating and nefarious types of scams—scams that are long-running and result in the pe...
Unmasking the Threat of AI: Deepfakes and Financial Security
Deepfakes fueled by AI are fast approaching being able to reliably circumvent voice biometrics authentication and facial recognition algorithms. When deepfakes cross this threshold...
Make informed decisions in a digital financial world