Cybersecurity Awareness - Knowledge Check

Think of our Bank - which areas of our business have we digitized?

"The bigger the company, the greater the attacks they generally face."

• TRUE

• FALSE

Answer explanation

Answer: FALSE

IMF research shows that the biggest losses are concentrated in smaller financial institutions, possibly because of less investment in IT security.

“Emerging markets and advanced economies are more exposed to cyber attacks.”

• TRUE

• FALSE

Answer explanation

Answer: TRUE

In contrast, middle and low-income countries are less exposed to cyber risks

“Legacy systems and the low cost of launching cyberattacks make financial services firms especially vulnerable.”

• TRUE

• FALSE

Answer explanation

Answer: TRUE

Legacy systems are less resilient to attacks, making financial institutions particularly vulnerable to anyone launching a low-budget attack – the potential effort to reward ratio is higher with financial services firms

“Cyberattacks can also impact the stability of financial markets.

• TRUE

• FALSE

Answer explanation

Answer: TRUE

A successful cyberattack could cause significant disruption to service availability and consumer confidence and also lead to liquidity shortages.

“Now that every employee has a portable laptop so they can hybrid work successfully, we need to make sure all anti-virus and anti-malware software is up to date on each device.”

• TRUE

• FALSE

Answer explanation

Answer: TRUE

To protect the end user devices, a corporate-managed anti-virus solution has to be in place and remain up to date at all times.

“We’ve recently upgraded to external cloud software. We can rely on the provider to secure our data – there aren’t any further security measures we need to take.”

• TRUE

• FALSE

Answer explanation

Answer: FALSE

Cloud users, in this case our Bank, must implement security measures in additional to those put in place by the cloud provider, to ensure that our data are adequately protected

“Phishing emails are very easy to spot – it’s highly unlikely that anyone on my team would fall for that.”

• TRUE

• FALSE

Answer explanation

Answer: FALSE

Never assume that you or your teammates won't fall victim to a cyberattack. Phishing attempts are becoming harder to spot and malware is becoming more advanced, making it difficult to identify and control once it's in a network system.

Forwarding a suspicious email that looks like a phishing attempt to colleagues to get their opinion

• Bad cybersecurity habit

• Good cybersecurity habit

Changing your password frequently as per the Bank’s information security policy

• Bad cybersecurity habit

• Good cybersecurity habit