Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Technology > The Electoral Commission hack: how can we foresee and combat cyberattacks?
    Technology

    The Electoral Commission hack: how can we foresee and combat cyberattacks?

    The Electoral Commission hack: how can we foresee and combat cyberattacks?

    Published by Jessica Weisman-Pitts

    Posted on September 6, 2023

    Featured image for article about Technology

    The Electoral Commission hack: how can we foresee and combat cyberattacks?

    By Chris Dimitriadis,Global Chief Strategy Officer at ISACA

    Cyberattacks are scary for many reasons, but one of the most worrying reasons is that they are rarely visible – which is exactly happened with the Electoral Commission hack. For over 14 months, the Electoral Commission was being hacked without anybody noticing.

    The hack accessed the data of 40 million voters. To put this into perspective, it left the names and addresses of all voters registered between 2014 and 2022 vulnerable. While such data is not considered high-risk by themselves, it may be combined with other datasets to profile individuals and analyse their behaviours. This type of attack isn’t rare, which is why we need to get better at spotting the warning signs of a hack. The question is – how can we do this?

    Prioritise cybersecurity

    Cybersecurity needs to be prioritised and taken seriously. While it might seem obvious, businesses need to be prepared and invest in protecting against cybercrime. Some C-Suite decision makers may be reluctant to invest in cybersecurity because the results aren’t tied to the broader business objectives. However, it’s worthwhile to do so – if not, organisations leave themselves open to attacks that they don’t have the infrastructure to deal with.

    Employees need to at least be aware of the risks of the digital workplace – technology, the internet, and data sharing – and take the appropriate precautions to protect themselves and the wider business. Everyone is responsible for protecting against bad actors – not just the cybersecurity or IT departments.

    Bring in the experts

    Whilst it is integral that all staff members have an awareness and basic understanding of cybersecurity, every business still needs skilled cyber professionals. But this is easier said than done as half of all UK businesses are suffering from a basic cybersecurity skills gap.

    It’s imperative for the industry to close that gap, so businesses should look to upskill their current staff or consider hiring people who are already qualified in cyber. Schemes like the Upskill in Cyber programme from the UK government are helping to deal with this problem, encouraging anyone to sign up, including those that don’t have any prior experience in the industry. As well as this, ISACA is providing 20,000 free memberships to students in Europe to increase the number of networked cybersecurity professionals and to provide member-free resources to professionals to increase their knowledge and preparedness.

    Employing people with cyber skills or providing current employees with holistic cybersecurity training will enable businesses to plan, budget and execute towards spotting and stopping attacks in their tracks. If we don’t have these vital people working to protect businesses, they risk damaging digital trust beyond repair.

    Establish digital trust

    ISACA defines digital trust as the confidence in the relationship between providers and consumers within an associated digital ecosystem. It’s essential for any business to succeed, protect their reputation and boost their economic growth as exchanges and transactions are more likely to happen when customers trust a business.

    ISACA’s research into the state of digital trust revealed that 92% of European business and IT professionals say digital trust is important to their organisation, and nearly half suggested that a lack of staff skills and training was the biggest barrier to obtaining digital trust. However, despite its importance, it’s not being prioritised – of those surveyed, one in three do not measure their digital trust practises at all.

    Fundamentally, a combination of buy-in at board level on cybersecurity, a skilled and trained workforce, and a high level of digital trust will put businesses in the strongest position to ward

    off threats and hackers. This way, incidents should be more preventable, and dealing with the aftermath of a cyberattack will be easier and quicker by identifying the threat sooner. As a direct result of cybersecurity being taken more seriously, customer trust will grow, and businesses will thrive.

    Related Posts
    Financial services: a human-centric approach to managing risk
    Financial services: a human-centric approach to managing risk
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    How Integral’s CTO Chidambaram Bhat is helping to solve  transfer pricing problems through cutting edge AI.
    How Integral’s CTO Chidambaram Bhat is helping to solve transfer pricing problems through cutting edge AI.
    Why Physical Infrastructure Still Matters in a Digital Economy
    Why Physical Infrastructure Still Matters in a Digital Economy

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Technology PostVirgin Atlantic accelerates AI transformation strategy with Amperity
    Next Technology PostKeeping London moving – Why a connected city is good news for tech

    More from Technology

    Explore more articles in the Technology category

    Why Compliance Has Become an Engineering Problem

    Why Compliance Has Become an Engineering Problem

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    How Nclude.ai   turned broken portals into completed applications

    How Nclude.ai turned broken portals into completed applications

    The Silent Shift: Rethinking Services for a Digital World?

    The Silent Shift: Rethinking Services for a Digital World?

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Why AI's Promise of Efficiency May Break Tomorrow's Workforce

    Why AI's Promise of Efficiency May Break Tomorrow's Workforce

    View All Technology Posts