Treasury & cash management
have laptops, not guns Today’s thieves
The role of treasurer is increasingly becoming important across business, setting policies and controls that are the foundation for how cash and fi nancial risk are managed. But with this exposure come risks – especially in terms of cybersecurity. Jim Banks talks to treasury
expert David Faller of Northwestern University about why treasurers are becoming more of a target for cybercriminals, and what companies can do to mitigate the danger.
ith their fingers on the corporate purse strings, and a growing role in setting and executing business strategy, treasurers act as the lynchpin of any large business. With this increasingly prominent role, however, comes many risks. With their hands on the levers that control, manage and secure a company’s finances, treasurers are becoming the favoured targets for cybercriminals. According to a recent study by HSBC, 82% of treasurers cite cybersecurity as their biggest concern.
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The same report also noted that treasurers are increasingly tasked with understanding and mitigating cyber risks as part of the significant expansion of the role’s duties over recent years. They have come to play a key part in managing a company’s complex risks, regulatory oversight and treasury technology.
At the same time, treasurers also have ultimate responsibility for many of the areas most commonly targeted by cybercriminals – including cash balances, global bank connectivity, high-value
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Finance Director Europe /
www.fi nancedirectoreurope.com
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