Cyberattacks are on the rise and so are the costs associated with breaches. As an industry, finance has been historically slow to move away from legacy technologies. Now there’s a greater need to digitally transform their processes and their cybersecurity strategy along with them. The statistics below don’t bode well for the sector, but each can be addressed in a modern way that strengthens cybersecurity and modernizes their practices.
Most criminals target financial firms simply because that's where the money is. Despite major efforts to protect themselves against ever-more-numerous and sophisticated attacks, businesses in this sector need to keep their guard up.