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Risk and compliance professionals in financial companies ‘lack confidence in security data’

September 24, 2020

The Panaseer Team

Senior risk and compliance professionals within financial services companies lack confidence in the security data they are providing to regulators, according to the “2020 GRC Peer Report” from Panaseer, a continuous controls monitoring platform for enterprise security.

Results from a global external survey of more than 200 governance, risk and compliance (GRC) leaders reveal concerns on data accuracy, request overload, resource-heavy processes and lack of end-to-end automation.

Panaseer said the results indicate a wider issue with cyber risk management: if GRC leaders don’t have confidence in the accuracy and timeliness of security data provided to regulators, then the same holds true for the confidence in their own ability to understand and combat cyber risks.

Read the full article by the Intelligent Insurer.