CFOs’ Increasing Role In Cybersecurity To Safeguard Payment Processes

Forbes October 30, 2024
Shai Gabay

Shai Gabay is cofounder and CEO of Trustmi, a pioneer in business payments security.

The role of chief financial officers (CFOs) has undergone a dramatic transformation in recent years due to the increasing financial impact of cyber threats: evolving regulatory compliance, the widespread adoption of remote work, bring-your-own-device (BYOD) policies and the growing integration of AI in business operations, to name a few.

All of these factors have been further complicated by cybercriminals’ adoption of generative AI, enabling them to craft highly sophisticated campaigns that more effectively exploit vulnerabilities. For instance, earlier this year, cybercriminals employed advanced deepfake technology to scam an employee at a multinational company into transferring $25 million into multiple fraudulent bank accounts.

As the sophistication of...

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