Pulse of Truth

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Studies: Banks Penalize Bad Cybersecurity With Higher Rates (www.bankinfosecurity.com)

submitted 4 months ago by lemmydev2@infosec.pub to c/pulse_of_truth@infosec.pub

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CFOs Should Know: Lackadaisical Security Carries a PriceBad cybersecurity is bad for business. A badly secured business may pay as much as ten extra basis points for a loan than its posture had been up to scratch, find academic studies examining how U.S. banks price debt. The bill for poor cybersecurity could run hundreds of thousands of dollars.

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[–] Onomatopoeia@lemmy.cafe 0 points 4 months ago

Bank business is all about transferring risk to others - whether that's their customers or vendors.

[–] JakenVeina@midwest.social 0 points 4 months ago

I mean... bad cybersecurity SHOULD be penalized. It's disgusting how little regard its given by large scale businesses.

Of course, banks are also some of the worst offenders. Who penalizes them?