7 Strategies for Mitigating Cybersecurity Risk BY TYLER LEET, DIRECTOR OF RISK AND COMPLIANCE SERVICES, CSI When it comes to cybersecurity, a good offense is a key component of a good defense. Much like organizations, hackers continuously learn and hone their skills. So, it’s critical to keep up with the latest threats they deploy, identify potential vulnerabilities and understand how your bank would respond to an attack. By examining vulnerabilities before a real hacker has the opportunity, your institution can take an offensive approach and mitigate cybersecurity risk. HOW TO MITIGATE YOUR BANK’S RISK How can financial institutions take steps to strengthen cybersecurity in the face of evolving threats? Here are several tips to mitigate cybersecurity risk for your institution: 1. Conduct Penetration Tests: During a penetration test, a tester identifies vulnerabilities or security weaknesses and then attempts to leverage them to gain deeper access into your network. Penetration tests often reveal eye-opening results by showing how many points of entry exist across your network. 14 | CURRENCY
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