However, we soon realised that the implementation of secure online payment methods was too slow, despite the fact that technical solutions were widely available. At the same time, we saw that Internet fraud was increasing. The situation was particularly bad when it came to cards.
Banks should continue efforts to educate those with systems access about these risks. Ransomware attacks can be mitigated by bank management. By using a robust, formal risk assessment process, bank management can develop a comprehensive action plan to prevent a ransomware attack from occurring, or to reduce the impact on the bank should such an attack occur.