How Financial Services Firms Can Navigate Compliance in 2023

COMPLIANCE ISN’T WHAT IT USED TO BE…

In 2021, cybercrime hit new heights. By 2025, it’s expected to cost the world $10.5 trillion annually. With high-profile breaches affecting major organizations and millions of citizens, cybersecurity rose to the top of the agenda and created a fresh imperative for governments and businesses to do more to protect sensitive data.

Now we find ourselves entering a new era of compliance that will play out on a global scale. And financial services will feel the brunt. The US Securities and Exchange Commission, the European Central Bank and the Monetary Authority of Singapore all plan to increase cybersecurity compliance obligations in the near future.