The cyber-resilience of financial institutions: significance and applicability

This journal article discusses the importance of resiliency in companies, specifically financial, trying to prevent cyberattacks. Despite the inability to completely prevent cyberattacks, as attacks even occur against highly regulated institutions like the National Security Agency, its important to still try and focus on the 'predict and protect' approach. This approach focuses on the "qualitative capacity to devise systems that can absorb and accommodate future events in whatever unexpected form they may take". Depending on the company, resiliency can mean something different, from adapting to different attack forms or the ability to withstand any kind of shock. Financial institutions are a critical consideration since there is a lot the attackers can gain from infiltrating their systems. Additionally, there is now a market for providing cybersecurity, despite there not being a standardization in cyber resilience. Ultimately, the underlying ambiguity in preventing cyber attacks makes it a difficult goal to achieve, but this does not diminish the importance of preparing a company against cyber attacks since there is a high risk involved.