Cyber Security Building Society
Our client required support to augment its IT Risk team, orientated to Cybersecurity and IT Controls.
Our client required support to augment its IT Risk team, orientated to Cybersecurity and IT Controls.

Given the mass adoption of new technology and adapting to new hybrid ways of working, organisations have been outsourcing more of their mission critical business functions and IT infrastructure to entities (often out of the regulated scope), increasing dependency, concentrating risk and potentially jeopardising market integrity.

Given the rapid adoption of new ways of working and technologies to support hybrid-working, organisations are now more exposed to sophisticated criminals, increasing the risk of falling foul of their nefarious activities, which could jeopardise critical business information and impact the integrity of the business.

Financial service and financial market infrastructure firms are increasingly relying on a limited number of third parties outside of the sector for business-critical key functions and services.

The frequency, sophistication, and potential damage cyber attacks can cause these days are reaching new, all-time highs. The acceleration of digital warfare has been exponential, with recent geopolitical clashes, civil unrest, and the COVID-19 pandemic drastically amplifying attempts by organised cyber criminals to infiltrate data centres, financial service organisations, and critical national infrastructure.

With new agile operating models emerging and the increased speed of transacting business, controls and security elements are often overlooked exposing the organisation to undesirable risks.

Financial crime, also known as Fin Crime, is a complex, multi-faceted, and ever-changing threat that is advancing in its level of sophistication.

Following a recent series of intelligence-led penetration tests, the client had devised a remediation plan which was to be reported to the regulator.
TORI were engaged to assess the client’s Security Risk Function’s approach to ongoing and continuous monitoring of suppliers.

The client, a global exchange, has been experiencing substantial growth in recent years due to recent merger activities and, as a consequence, an increase in size and complexity of their delivery estate.