Countering Cyber Threats to Financial Institutions

“In this highly informative book, the authors deploy rich empirical qualitative data from the financial industry to highlight the many hurdles that prevent public-private partnerships from realising their full potential, and offer insightful practical recommendations on how to remedy that situation.”

—Benoît Dupont, Professor of Criminology, University of Montreal, Canada, and Canada Research Chair in Cybersecurity 

“Cybersecurity is an immensely complex field, and public-private partnerships in the financial sector are at the very core of this complexity. This book provides rich insights into these partnerships, their internal dynamics, and tensions, appealing to those specialising in cybersecurity, public-private partnerships, security networks, and security governance.”
—Chad Whelan, Associate Professor in Criminology, Deakin University, Australia

“This book offers a significant blueprint for would-be cybersecurity heroes in a business where there can be no ‘second place’ finishers!”
—Brigadier General Stanley J. Osserman, Jr., US Air Force (Retired)

Exploring the negative social impact of cyber-attacks, this book takes a closer look at the challenges faced by both the public and private sectors of the financial industry. It is widely known amongst senior executives in both sectors that cybercrime poses a real threat, however effective collaboration between individual financial institutions and the public sector into detecting, monitoring and responding to cyber-attacks remains limited. Addressing this problem, the authors present the results from a series of interviews with cybersecurity professionals based in Canada in order to better understand the potential risks and threats that financial institutions are facing in the digital age. Offering policy recommendations for improving cybersecurity protection measures within financial institutions, and enhancing the sharing of information between the public and private sector, this book is a timely and invaluable read for those researching financial services, cybercrime and risk management, as well as finance professionals interested in cybersecurity.

Dr. Pierre-Luc Pomerleau is a financial crime executive with over 15 years of experience with three large Canadian financial institutions, and an adjunct professor in the Cybersecurity program at Polytechnique Montreal, Canada.

Dr. David L. Lowery is a retired U.S. Air Force lieutenant colonel (cyberspace operations officer) and a three-time unit commander now serving as Professor of Homeland Security at Northcentral University, USA.