Before the panel discussed cybersecurity at Wells Fargo, Fontbonne made an announcement: Fontbonne is now accredited by ABET for their Bachelor of Science in Cybersecurity.
After breakfast served at 7:30am, the panel discussion started at 8 am and ran until about 9am. There were 5 employees from Wells Fargo, an Operational Risk Manager, Analytics manager, Business Continuity manager, and an Incident Response employee. The moderator was one of the Cybersecurity managers.
First everyone gave a short history of their work and work history.
Then the Risk manager discussed a failure in protecting money movement – why was money wired to Hong Kong? The client voice was copied and imitated enough to fool the client personnel. So they are implementing new safeguards for this type of social engineering attack.
The business impact manager discussed talking to everyone and asking them how fast they need to be back up after a failure. Then one knows what kind of disaster recovery structure to create.
Then the discussion went to the general climate today versus some time ago. First comments are that “things are harder today than 5 years ago”. More playbooks are required(documentation), and having a CISO is a must.
One more discussion centered on where we are heading in 5 years:
The analytics person said that of course we have AI – Artificial Intelligence, ML Machine Language. The controls are the heart and soul. Can we write algorithms to scale also important. Why review 3 pages per analyst when AI/ML can do 1000 in a few seconds?
A question from student stood out: “Are you using CAKE cloud storage?” Answer is cloud storage is with our 3rd party vendors, so we work with them (answer is unknown).
Written by Tony Zafiropoulos