P. 5 P. 7 P. 13 P. 18

January 2016 The Fintech Times January 2016 1 TheFintechtimes.com An independent business newspaper p. 5 p. 7 p. 13 p. 18 Psychology of teenage Call centre STARTUP Blockchain hackers Vulnerability Banking for diamonds . 2 The Fintech Times January 2016 What is Fintech? The Future. FINANCE + TECHNOLOGY Fintech is a new definition, but one expected to become normal. Format Fintech is the future of finance, of financial services, and indeed of money itself. For those already in the know, this is not news. Each month we will be exploring a new fintech sector, interviewing Fintech isn’t a business sector; it’s dozens of sectors. Everything from thought leaders and experts, digging deep into the ideas, people, high street banks, investment companies, money transfer, fintech is and technology. Then taking that experience and presenting it in a re-engineering these sectors into their next generation. And there format that you can read at your leisure. We plan to keep it intelligent, are new kinds of businesses emerging within fintech: crowdfunding, investigative, authentic, but not too serious; informative and useful, peer2peer lending platforms, crypto currencies, the Internet of but not too technical. Enjoyable. Let us know when we get it right or Things, sectors that are digitally native; they didn’t exist before the wrong. internet. And cyber security, this month’s cover story. So... There’s many ways to look at fintech. It’s about new companies, Keep your copy, start subscribing, become a member, or partner. and new technologies for old companies. It’s about inventors and Watch the changes happen. Be involved if you choose. Fintech is visionaries, and everyday people creating something new. It’s about new. And Fintech is the news. London, by the way, is the World leader your bank, your phone, and your job. It’s about you today. It’s about in fintech, and long may we be so. Not that we don’t welcome the the future. competition. And it’s definitely about change. Big big change. Finally, to subscribe or become a member, to read and comment online, search thefintechtimes.com A fintech newspaper? Let us know what you think. People like newspapers. They can be a three-minute read between tube stops, or a Sunday morning in bed. So what kind of newspaper [email protected] is this? There’s so much happening in fintech, it’s so interesting, and sometimes so complicated, and we think it needs its own monthly The Fintech Times Editors: Katia Lang newspaper as an industry report. That’s what The Fintech Times is. Published by Disrupts Media Limited Bird Lovegod Who for? 83-89 Mile End Road London E1 4UJ [email protected] www.thefintechtimes.com 07535 670 581 For company directors, entrepreneurs, and managers, business minded people. It’s for everyone in finance, banking, and investment. Copyright The Fintech Times 2015 Anyone in tech and anyone interested in startups. Because fintech is Reproduction of the contents in any manner is not permitted without the publisher's prior consent. "The Fintech Times" and "Fintech Times" are registered UK trademarks of Disrupts Media Limited. where the money is. January 2016 The Fintech Times 3 COVER STORY: Cyber Security Expert: Brian Lord OBE Editor BIRD LOVEGOD Cyber Something: What’s Happening? Normalising the situation. You lock them. You keep windows closed. But someone can still pick a lock or kick down a Brian Lord OBE Based on a meeting with Brian door. So you look at what is valuable in the Prior to joining PGI, Brian was the Deputy Lord OBE, MD of PGITL. “Let’s treat house, and you keep it out of view. What is Director of GCHQ for 21 years, wherein he really valuable, you keep in a safe. Then you was responsible for Classified Intelligence ‘cybercrime’ look at what is critically valuable or sensitive, and Cyber Operations. During that The first thing Brian draws to our attention and perhaps keep that in a security deposit period, Brian directed the growth and is that technically Cybercrime doesn’t really as normal. box in a bank. mean anything. perpetual evolution of departmental capability against emerging threats. It’s just bad You do what is reasonable to keep thieves He planned and ran both defensive As a word, it’s fresh from the late 1970’s, out. But you acknowledge that thieves might and active Cyber operations, applied cybermen, cyberspace, cybersexcitement. still get in. If they really want to, they will. people doing through unparalleled experience of By definition it is ‘something to do with So you take reasonable precaution, have a cyber threat, risks, opportunity, and computers, information technology, and contingency plan, and maybe an insurance bad stuff, the effective mitigation strategies. He virtual reality.’ That narrows it down to policy. “There’s no point in having an culminated his career at GCHQ as an everything in 2016. intention of ‘make sure we never get hacked’. same bad eminent thought leader on the subject That’s not realistic. This ‘cyber opacity’, in the context of crime, of cyber warfare and on the intent and stuff as has motivations of cyber threat actors. equates to a fog of understanding that It’s not about trying to become an At the time of departure, Brian also makes it difficult to do anything meaningful. impregnable fortress. It’s about being been done for had overall GCHQ Senior Civil Service “We, meaning businesses and organisations, proportionate to the risk. Like any normal responsibility for the development, need to treat ‘cybercrime’ as a normal risk.” business risk.” One of the repeated points Brian makes is thousands of capability building, and requirement setting for the active defense and that cybercrime, (maybe we should call it Back to business: How to normalise offensive Cyber capability and something else) needs normalising. This years.” information security procedures? It comes chaired the relevant joint GCHQ-MoD means stripping away the mystique and down to understanding the specifics: Specific Programme Board. techspeak and understanding it in a rational threats, specific sectors associated with those Additionally, Brian developed and ‘real world’ compatible way. The use threats, then threats and risks specific to your operational coherence across both of jargon, buzzwords, and media hype speed of events happen at the speed of organisation, and the specific departments, foreign intelligence agencies for his obfuscates and disguises what is actually a digital transmission. A problem becomes an the specific IT hardware, and the specific areas of responsibility; his experience number of completely separate issues and unmanageable cascade of bad news data in individuals using it. You really only need to extends to both the design and risks. literally a second. Location of the attackers? know and care about risks that are relevant participation in cross-government Could be anywhere. to your company. Brian takes it back to basics. National Security exercises. At PGI, Brian has designed and “So let’s treat ‘cybercrime’ as normal. It’s just The challenges and complexities of This is so obvious in the real world it’s delivered the PGI Cyber approach bad people doing bad stuff, the same bad information security make it especially normal thinking. And this is what we mean by to organisational transformation and stuff as has been done for thousands of years. important to use a normative approach in normalisation of risk, threat, and response. skill development, whilst growing Breaking and entering. Theft. Vandalism. business. Even calling cybercrime by the Information has value. Some information has and maintaining relationships with Espionage. Blackmail. Ransoms. Crimes as more correct term of information security more value than other. Protect accordingly. government and industry professional old as civilisation. The only new thing is the is helpful. Information is a thing, you know Human error is always going to be the bodies, as well as the relationship with vehicle, the means, by which these nefarious what information your company has, and weakest point in the information protection Academia within the Cyber Academy. activities are actioned.” where; what is important, and what is critical. process. Therefor the first and most Brian currently personally oversees The game changers in cyber crimes are scale, important response is education, training, all capability delivery for foreign speed, location, and traceability in relation Let’s call it information security from now on. and understanding the realities of business governmental clients. Brian is regularly to what the media casually calls attacks. Brian uses real world analogies; how in 2016. It’s no big deal. It’s just another enlisted by the BBC and other national A single bad operator can command an supermarkets protect tins of beans differently normal day. army of ten thousand computers against to bottles of spirits. media outlets as a specialist spokesman a company or organisation. Clearly the Imagine your house. You close the doors. on Cyber matters. 4 The Fintech Times January 2016 COVER STORY Cyber Security CYBER by BIRD LOVEGOD HYGIENE Threat: Spearphishing The targeting of specific individuals within an organisation at specific points in time, to Sector Specific achieve a single target aim. Either to elicit the individual to directly disclose some Not intended as a complete information, or carry out an act, such as making a false payment or to encourage the ‘how to’ guide, but more a Threats individual to open a folder or go to a website guide to a normative approach.

Load more