CPEs: 24
Instructor: Sue Milton
Level: Intermediate
Tuition: £3,495.00
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NEW Managing Cybersecurity Risk in Banks and Financial Institutions SDIT030

Location: UK EU MENA WAT GCC Time Zones

First Date: Apr 3 - 5 2023

Duration: 3 days

Programme Director: Sue Milton

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco by WebEx via Risk Reward.

All our 2023 Live on-site and Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to bring this course in-house for your risk team, 1:1 and/or face-to-face? Simply contact us for significant cost savings and dates best suited to your professional development and business goals.

"The trainer was very knowledgeable and thorough. Good course."
Risk manager, Egyptian bank
Agenda Highlights

Session 1: The Background and Nature of Information Security and Cybercrime

Session 2: The Legislative Environment

Session 3: The Public-Private Interface In Combatting Cybercrime

Session 4: Cybercrime & The Financial Services Industry

Session 5: Combating Cybercrime

Session 6: Trends in Economic Crime Compliance

"Made me think in ways I hadn't before. "
IT Auditor, Egyptian bank

As economies digitise so too do the threats facing them which can be seen in the unprecedented number of cyber-attacks against financial institutions and businesses of various sizes and across various sectors in recent years.

This up-to-the-minute, real life case studies-driven course will provide delegates a critical overview of cybercrime, its threats and events, UK-, USA- and EU regulation, techniques for detection, prevention, intervention and mitigation for those in the financial services industry.


Who Should Attend

Delegates who complete this course will receive a Certificate in Managing Cybersecurity Risk following an  optional 20- question virtually invigilated quiz.

This course is primarily designed for

– Compliance Officers & staff

– Money Laundering Reporting Officers & staff

– Legal professionals

– Regulatory professionals

– Trade professionals

– those involved in bi-lateral development organisations

– civil society organizations

– charities

– CISI Candidates for the Investment Operations Certificate (IOC)

Additional Course Information

What Does It Cover?

The Background and Nature of Information Security and Cybercrime 


    • The difference between the Internet and the World Wide Web
      • The Deep Web
      • The Dark Web
    • Cloud computing
      • Software as a Service (SaaS)
      • Hardware as a Service (HaaS)
      • Infrastructure as a Service (IaaS)
    • Co-location
    • Database structure
    • Internet protocol (IP) addressing versions 4 and 6
    • Domain Name servers
    • Routers and gateways
    • Data packets
    • The Financial Conduct Authority (FCA)
    • The definition of electronic money
    • Information security


    • How cyber security is distinct from information security
    • Cybercrime and cyber-enabled crime

Fundamental issues of cyber security:

    • Policies & Standards
    • Identity & Access Management
    • Threat & Vulnerability Management
    • Outside Service Providers
    • IT Risk Management

Technical Cybercrime attacks

  • Types of network level technical Cybercrime attack:
    • Denial of Service (DoS) and distributed denial of service (DDoS)
    • Man-in-the-middle attacks (MitM)
    • Sniffing attacks
    • Session hijacks
    • Botnets
    • Malnets
    • Spam
    • Remote code injection
    • Structured query language (SQL) injection
    • Cross site scripting (XXS)
    • Format string vulnerabilities

User name enumeration

The most common types of technical Cybercrime attack at device level:

  • Device intrusions / hacking
  • Password cracks
  • Physical key loggers
  • In-built infections at point of manufacture or sale
  • Device-sharing risks
  • Device disposal and maintenance-related data breaches
  • Device theft

The most common technical Cybercrime attach via peripheral devices:

  • Bring your own device (BYOD) risks
  • Removable media risks
  • Printer risks

The types of technical Cybercrime based on application exploits:

  • Application hacking
  • Password cracks
  • Code injection
  • Malicious websites
  • Drive-by downloads

The main types of technical Cybercrime arising from malware exploits

  • Viruses
  • Worms
  • Trojans
  • Spyware
  • Rootkits

Attack Types

  • Crypto-extortion attacks
  • Web attack toolkits
  • Data leakage and breaches
  • Online frauds and other financially motivated eCrimes

The Human Element

The most common types of technical Cybercrime stemming from user-level issues:

  • Errors and accidental disclosures
  • Rogue insider
  • Insider frauds
  • Identity theft
  • Phishing
  • Pharming
  • Physical intrusions
  • Password sharing and weak passwords
  • Self-provisioning

Social media risk in relation to Cybercrime:

  • Social engineering ploys
  • Identity theft
  • Contact network analysis
  • Blackmail
  • Harassment
  • Stalking
  • Grooming
  • Data breaches
  • Reputational harm and brand damage
  • Target acquisition and reconnaissance

Key desktop attacks and concealment techniques

  • Search engine robots ploys
  • Page source edits and hidden text
  • Advanced online searching and reconnaissance
  • LinkedIn, Facebook and Twitter searches
  • Security & privacy vulnerabilities
  • Image searching methods
  • Mapping & geo-location vulnerabilities
  • Reputational harm and brand damage
  • Target acquisition and reconnaissance

The Legislative Environment 

Legal concepts

The key concepts influencing internet law:

  • Net neutrality
  • Free speech on the Internet
  • Internet censorship
  • Privacy expectations
  • Intelligence services surveillance
  • Responsibilities of Internet Service Providers (ISP’s)

UK legislation

What are the offences created under the Computer Misuse Act (1990)

  • Offence 1: accessing computer material without permission
  • Offence 2: accessing computer material without permission with intent to commit further criminal offences
  • Offence 3: altering computer data without permission
  • The maximum penalties applicable to Offence 1, 2 & 3

The amendment to “unauthorised access” and the 2 additional offences defined in the Police and Justice Act (2006)

  • Section 36: unauthorised acts with intent to impair operation of computer
  • Section 37: making, supplying or obtaining articles for use in computer misuse offences

How the Fraud Act (2006) relates to Cybercrime

  • Fraud by false representation
  • The maximum penalty stipulated under the Fraud Act (2006)

How the Data protection Act (1998) relates to Cybercrime

The penalties that may be imposed for failing to comply with the 8 data principles

The core principles of the Regulation of Investigatory Powers Act (RIPA) with respect to communications meta-data and message content

Relevant international legislation

  • How European Union (EU) data protection law relates to Cybercrime
  • The key US regulation and guidance that relates to Cybercrime
    • Homeland Security Act (2002)
    • The DHS Critical Infrastructure Cyber Community (C-cubed) Voluntary Program
    • Electronic Communication Privacy Act (1986)
    • Privacy Act (1974)
    • Federal Information Security Management Act (2002)
    • Executive Order 13636, “Improving Critical Infrastructure Cybersecurity”

The Public-Private Interface In Combatting Cybercrime 

Law Enforcement agencies

  • The role and activities of the UK and EU agencies
    • The National Crime Agency (NCA)
    • The Metropolitan Police Service (Met) & SO15
    • The City of London Police
    • Regional Police forces
    • Europol

Standards and best practice

  • What is the purpose and content of the main international standards for Information security management
  • The purpose and content of the UK government’s (GCHQ) information assurance “Cyber Essentials” scheme
  • the purpose and content of the UK Government Communications Headquarters (GCHQ) guidance entitled “10 steps to cyber security”
  • The role of the European Network and Information Security Agency (ENISA)

The financial services industry

  • The role of UK and EU Information Commissioners in relation to Cybercrime
  • The obligations of financial services firms to the Information Commissioner
  • The role of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in relation to Cybercrime
  • ‘Operation Waking Shark’
  • The obligations of financial services firms to the FCA and PRA with regard to a Cybercrime event

Cybercrime & The Financial Services Industry

Recognising the threat

The importance of financial services as a component of critical national infrastructure:

  • Threats and impacts at national level
  • Managing cyber dependencies
  • National cyber security culture
  • How financial services firms are exposed to various categories of cybercriminal
  • Employees and contractors
  • “Hacktivists” or single-issue extremists
  • Hackers and Script Kiddies
  • Fraudsters
  • Nation states
  • Organised crime networks
  • Malware developers
  • Software developers
  • Social engineers

Known vulnerabilities

  • The typical classes of Cybercrime vulnerability affecting networks of common applications (Apps) of database systems

Cybercrime detection

  • How Firewalls are used to detect cyber-attacks and vulnerabilities
  • How intrusion detection systems (IDS) are used to detect cyber-attacks and vulnerabilities
  • How anti-malware applications are used to detect cyber- attacks and vulnerabilities
  • how logging and reporting applications are used to detect cyber-attacks and vulnerabilities
  • How penetration testing and vulnerability assessment methodologies are employed to detect cyber-attacks
  • How other common data sources can be utilised to identify evidence of Cybercrime
    • Customer complaints
    • Suspicious transactions
    • Internet and website usage patterns
    • Customer device profiles
    • Employee turnover statistics

Combating Cybercrime 

Proactive Governance

The goals of information security governance:

  • Scope and charter organisational and third-party relationships
  • Key cyber security and information security risk metrics

The information security framework:

  • Strategy
  • Risk management processes
  • Business impact assessments
  • Policies and procedures
  • Compliance
  • Audit methodologies
  • Testing and validation
  • Training and awareness

The commonly accepted cyber security control frameworks:

  • Control categories
  • Baseline controls
  • Strengths and methods
  • Components and architecture
  • Inventory management and control (configuration management databases)
  • User profiles and privileges management and reviews
  • Key metrics
  • Reporting exceptions

Selected effective due diligence techniques for:

  • Customers
  • Employees
  • Service providers

The impact of culture on cyber security for international business

Risk management

What are the additional measures financial services firms can take to manage the risk of Cybercrime originated or enabled by an employee:

  • Raising awareness
  • Improving the management of privileges for joiners, movers and leavers
  • Classifying and segmenting data
  • Embedding ethical practice in relation to data security
  • Implementing whistleblowing procedures

The implications of Cybercrime for technological procurement

  • Bespoke software development
  • Standards of software development
  • Supplier due diligence
  • Hardware and software lifecycles, including disposal with respect to corporate social responsibility and the data protection principles

How to manage the risk of Cybercrime throughout the employee lifecycle

Stress Testing

  • The application of penetration testing to different types of vulnerabilities
  • The correct application of prepared planning and dry-run modelling
  • How firms can measure, or predict, the impact of cyber-attack Incident response

Incident response

  • The role of a computer emergency response team (CERT) or computer security incident response team (CSIRT)
  • The concept of recovery time objectives (RTO)
  • The components of an incident management procedure
  • How to develop an incident management response plan

Business continuity

  • The concept of business recovery and disaster recovery planning (DRP)
  • The purpose of the FCA “Business Continuity Management Practice Guide”
  • FCA requirements for business continuity (SYSC 13.8) and incident response

Trends in Economic Crime Compliance 

Emerging Threats

  • The key sources of information on emerging vulnerabilities
  • The concept of the “Internet of Things” (IOT)
  • The evolution and use of big data analytics
  • The specific threats relating to cryptocurrencies such as Bitcoin
  • To unregulated payment models
  • To mobile payment devices
  • To Cloud computing
  • To co-location
  • The purpose and limitations of risk avoidance through Cybercrime insurance policies

Ethical Issues

  • How the use of big data relates to FCA financial promotion rules and Treating Customers Fairly (TCF)
    • Informed consent
  • Ethical search engine optimisation
  • Fair usage policy
  • Good online practice
  • The balance between employee monitoring and employee privacy:
  • The implications of Californian Law A.B. 1844


Learning Objectives

Delegates will gain specialist technical and behavioural knowledge, approaches, techniques and applications in the workplace for immediate impact.

Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory. The virtual learning platform uses safe, industry preferred software to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes.

(An invitation via email with access link is included for all participants.)


NEW Managing Cybersecurity Risk in Banks and Financial Institutions

Course Fee

Apply discount voucher code RISK10 at check out before Feb 15 2023 for savings

Course Fee (per person):
GBP £3,495.00 (+ UK VAT when applicable)

Number of delegates:

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