February 7, 2024 (NO COMMENTS)

To know what needs urgent patching, global banks first need to know what software they have

Senior risk executives at global banks are urging better management of IT asset inventories, to prevent cyber criminals exploiting known vulnerabilities in outdated software.  “You can’t patch what you don’t know,” says an operational risk manager at a global bank, adding that regulators are increasingly pressing banks to maintain a more centralised database of their technology. Those that have not done so “should expedite the process”.  The head of cyber risk management at a second global bank