It may be time for a revision of, “the customer is always right,” at least in the financial sector.
That, Boston Police Detective Steven Blair told an audience of bankers at the Boston Fed’s 2017 Cybersecurity Conference on Monday, is because too many banking “customers” are fraudsters, who take advantage of the generally laudable desire of front-line employees to provide good customer service.
Attendees had heard Kenneth Montgomery, first vice president and COO of the Boston Fed, say earlier that cybersecurity is now, “the number-one operational and enterprise issue” for the financial sector. He said the worldwide costs of cybercrime are estimated at $3 trillion annually now, and expected to double by 2021.
