Beating the drum on cyber risk: the battle for boardroom attention

Delays patching financial sector vulnerabilities highlight the need for more internal clout for cyber chiefs

Cyber attacks on banking giant ICBC (Industrial and Commercial Bank of China) and asset manager TCW, discovered on the same day last year, had something else in common: ransomware hackers at LockBit had exploited a known vulnerability in Citrix NetScaler – one the tech provider had flagged a full four weeks earlier – and for which it had already proposed a patch. 

But both were too slow to react. 

These incidents shine a glaring spotlight on the ability of cyber security to gain the timely