Security News > 2021 > July > Cybercriminals took advantage of WFH to target financial services companies, say financial bods
Criminals targeted security gaps at financial services firms as their staff moved to working from home, according to a report issued by the international Financial Stability Board on Tuesday.
Established after the G20 London summit in April 2009, the FSB makes recommendations about the global financial system and coordinates financial rules for the G20 group of nations in a non-binding way.
"Working from home arrangements propelled the adoption of new technologies and accelerated digitalization in financial services," the report states.
Analyst firm Gartner has predicted almost half of knowledge workers will be working remotely in 2022.
FSB suggests institutions accordingly adjust their cyber risk management processes, incident reporting, response and recovery activities, and how they manage cloud and other third-party services.
The report [PDF] is a preliminary take on the pandemic's impact on financial stability.