So, is this one of those ‘if I spent $100k on improving my network security, I could have helped prevent the loss of $81Mn’, or is it a combination…

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So, is this one of those ‘if I spent $100k on improving my network security, I could have helped prevent the loss of $81Mn’, or is it a combination of both poor quality internal controls and a lack of an effective information security programme. If the losses are true, then that’s a lot of money which could have been spent on securing the network and putting in place a robust information security management system (ISMS). As an ex-Swift officer, what worries me is that the network may have been compromised.

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