22 March 2016
Why Your Business Needs to Take IT Security Seriously
King of Servers puts the spotlight on cyber security and offers commentary from Cliff Moyce, Global Head of Financial Services Practice at DataArt, on the effectiveness of punishments in improving compliance with cyber security policies.
“The effect of punishments on companies is highly debated - with evidence that fines have little effect. However, the possibility of sanctions against individuals can be a stronger motivator. Where lax security and controls results in anti-money laundering breaches or personal loss for customers, the sanctions can be very severe, including jail or personal fines, especially when any negligence is deemed to be willful or arising from joint enterprise.”