Cyber incidents connected to financial institutions

Abstract

The main topic of the paper is the accelerated digital transformation of financial institutions, which, in addition to the advantages, also brings an increased risk of cyber incidents. Cyber incidents can cause systemic damage and, therefore, building a good cyber security system goes beyond individual financial institutions. Based on a comparative analysis of the trend of public awareness about cyber-attacks, the conclusion of this paper is that, unlike developed countries, public awareness in Serbia has no continuous but occasional growth caused by individual events related to cyber-attacks. Designing a national campaign to raise public awareness about cyber security, as well as training and retaining highly qualified personnel, are two recommendations that are self-imposed after the observation and analysis of information on cyber incidents in Serbia.

Keywords

• malicious cyber incident
• digital transformation
• financial institutions
• cyber security