The Role of Finance Departments in Cybersecurity


Consumers are becoming more aware of the data companies collect about them, and place high importance on data security and privacy. Though consumers aren’t aware of every data breach, they are justifiably concerned about what happens to the data companies collect. 


A recent study of consumer views on data privacy and security revealed consumers are more careful about sharing data. The majority of respondents (87%) say they wouldn’t do business with companies that appear to have weak security. Study participants also rated trustworthiness across multiple industries. Healthcare and financial services ranked higher than other industries, yet none scored especially high. Properly securing this sensitive data makes good business sense. That’s where an organization’s finance department can step in to help secure data and build trust. 


The Link Between Finance and Cybersecurity


A company’s finance department holds the company’s crown jewels: They ensure financial transactions and systems are secure. The finance department is a key component of a company’s overall security. 


Even though the finance department isn’t focused exclusively on cybersecurity, they secure vital operations on a daily basis. These teams are very familiar with financial regulatory reporting and compliance. Digital transactions make up the bulk of most business transactions, and each one must be secure. The nature of modern business requires this department to work in tandem with IT and security operations to ensure regulatory compliance. Data privacy and protection regulations are varied, especially for businesses with international ..

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