2017 has seen an ever increasing number of firms around the world being affected by data breaches. Regulators, multinational accounting firms, international hotel chains, universities, retailers, financial service providers and internet service providers have all been subject to cyberattacks.
In light of the constant threat, the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) reminds its licensees of the need for continued vigilance in their approach to managing cybersecurity risks and to ensure their employees are highly aware of the constant and sophisticated nature of cyber threats, aimed at disrupting and in some cases, defrauding legitimate business activities.
For more information regarding Cybersecurity, refer to the Authority’s notice of 25 May 2016.
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