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Looking ahead, bank President Jeff Tengel reiterated that technology remains a key challenge, both for People’s and the banking industry in general.
Xerox stated the technology will "allow record owners to recover work that may have been altered or destroyed from more traditional control systems."
To be most effective, financial cybersecurity – that is, the protection of money accounts against digital invaders – requires a multipronged approach.
The center, which opened Sept. 28 and is in the Hancock Center building, features a number of IBM’s cybersecurity technologies.
The funding comes from Austin, Texas-based Petros Connecticut Fund I, an $18 million investment fund focused on supporting the growth of Connecticut businesses.
“Connecticut is really in very good shape” when it comes to averting cyberattacks, according to Secretary of the State Denise Merrill. However, she added, "There’s no such thing as an utterly safe system."
“Cybersecurity threats continue to grow across the United States, for everyone," noted Gov. Dannel Malloy.
“The program will focus on hands-on learning, with the help of traditional, lecture-based teaching,” said Sacred Heart University Assistant Professor Sajal Bhatia.
In June 2017, the National Institute of Standards and Technology, which creates widely used standards, updated its “Digital Identity Guidelines,” with special attention to usability.
“In our experience, many businesses are woefully unprepared for attacks,” said Larry Szebeni, founding partner and COO. “They are hoping for the best.”
High-profile data breaches at the likes of Equifax, the U.S. Securities & Exchange Commission and Uber have contributed to the growing concern.
The list of attacks on major consumer sites and major businesses continues to grow unabated. 2018 is not even halfway through and we have already learned of major attacks on the likes of travel search site Orbitz.