Custodial Bank Norther Trust has upgraded their cybersecurity protocols as they try to better protect themselves against a growing cyber threat; the bank hired a new global head of data privacy and are considering additional safeguards with employees; the company is looking to restrict all external emails except for employees who work with clients or other third parties; this move would essentially cut off thousands of employees from email when they are not at work; the company is aiming to protect themselves from client-data theft, data loss, and payment fraud; Northern Trust is not the only bank looking at drastic measures to better protect assets and data, there is a trend among Wall Street firms to take whatever precautions they can as cyber threats get worse. Source.
