Since the COVID-19 pandemic, we have seen greater interest in customer adoption of digital banking products and utilization of remote work tools by bank employees, both of which have created new opportunities for cyberattacks. Some of these risks are best addressed directly by the bank with assistance from law enforcement, if necessary. Other risks may best be addressed by service providers.
The role of the FSB is to orchestrate a unified image and coherent approach; to ensure we continually monitor and address those hazards, the shape and form we have already identified, while allowing for vicissitudes like the COVID event, which arise quickly, with little notice, and that require extra space on the canvas. There is little margin for error in our work.