WEEKLY EDITION BY MARINA MOUKA

Welcome to your latest CFO's Weekend Digest, your go-to source for the week’s top insights and updates tailored for accountants.

In this issue, you'll find:

◼ Cyberattacks on M&S and Harrods expose the cost of weak defenses and the warning signs to watch.

◼ ISO 20022 is more than compliance - it’s a chance to modernize payments and fight fraud.

◼ AI is reshaping finance. CFOs who start small and stay strategic will lead.

INSIGHTS

Key indicators of cyber attacks exposed after M&S, Harrods, and Co-op breaches

Cyberattacks on major UK retailers—including Harrods, M&S, and the Co-op—have exposed critical cybersecurity vulnerabilities, forcing partial shutdowns and triggering financial losses. These incidents highlight the urgent need for proactive risk detection strategies. Experts emphasize four key red flags: unusual login activity, signs of malware or ransomware, sluggish system performance, and phishing email surges.

Business leaders are urged to strengthen defenses with multi-factor authentication, employee training, real-time monitoring, and up-to-date cybersecurity tools. As digital threats escalate, finance leaders must ensure their organizations remain alert, equipped, and ready to respond swiftly to avoid reputational damage and financial fallout.

OPINION

Beyond compliance: Why the shift to ISO 20022 is more than a messaging upgrade

The upcoming ISO 20022 migration isn’t just a technical switch—it’s a strategic transformation for financial institutions. While many banks treat it as a compliance exercise, its structured, rich data format opens the door to improved fraud detection, streamlined operations, and agile payment infrastructures.

Retrofitting old MT-based systems won’t cut it; firms must integrate ISO 20022 across business lines to reduce false positives, enhance AML performance, and gain real-time payment visibility. A modular orchestration layer and optimized crime prevention tools are key. Institutions that adapt now won’t just meet compliance—they’ll future-proof their operations for speed, transparency, and sustainable growth.

INSIGHTS

Can CFOs Handle the Pressure to Adopt AI?

As pressure mounts to integrate artificial intelligence into financial strategy, CFOs are navigating complex challenges—from internal resistance and technical skill gaps to cost concerns and compliance risks. While automation and AI can enhance forecasting, fraud detection, and cash flow management, adoption requires cross-functional collaboration and cultural buy-in.

Real-world examples from Amazon, Siemens, and energy firms show how gradual implementation can yield major gains. The key for CFOs is to start with manageable, high-impact projects that align with broader business goals. By leading transformation with clarity and intent, CFOs can reposition finance as a strategic engine of innovation.