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Financial Industry Especially Vulnerable to Cyberattacks, Analysts SaySmith, Josh
In recent years, there has been a significant uptick in the frequency and sophistication of attacks on the financial and banking industry. The following statistics illustrate the current breadth and depth of cyber attacks by various types of threat actors on financial entities: Financial institutio...
We provide Financial Services industry with the tools to raise their security levels, prevent and predict cyber incidents and respond efficiently.
The 2015 report by the Financial Stability Oversight Council said that although US banks and financial businesses have been leaders in erecting barriers to hackers,cyber attacksstill present a potential systemic danger. "Over the past year, financial sector organizations and other US businesses experienc...
From a sector perspective, besides the obvious, there are a number of reasons the financial sector is prone to cyber-attacks. Some of these are related to the uptake of modern technology and transformation that financial institutions are going through in the modern digital era. This in...
We further surveyed financial institutions to better understand what cyber risks were top of mind. The biggest risks they reported that their organizations face include cyberattacks, AI, talent management, third-party and supply chain management, and data security (Exhibit 4). While...
When it comes to cyberattacks, the financial services industry is an attractive and lucrative target. Financial Services is often the most-attacked industry with customers suffering far more cyberattacks than any other industry.1 ThreatQ By Industry ...
Cybersecurity in the banking and finance industry refers to the practices, technologies, and measures implemented to protect banking systems and financial institutions and their data and networks from cyberattacks. This is crucial for maintaining the confidentiality, integrity, and availability of financial...
” says Tris Morgan, managing director of security at telecoms group BT. His company’s data reveals, on average, “more than 46mn signals of potential cyber attacks every day, worldwide” — with banking emerging as the most vulnerable industry....