With cybersecurity, one size doesn’t fit all. IT security challenges vary widely across sectors, but they have one in common: devastating financial and reputational consequences when cyber risks don’t get the attention they deserve.
In a world racing toward digitization, cloud, and IoT, growth opportunities seem limitless, but without a strong IT security foundation and collaboration between the CISO and other vital stakeholders, banks and financial services institutions expose themselves to vulnerabilities, waiting to be exploited by bad actors.
The Banking and Financial Services industry has always been a prime target for social engineering attacks. The financial rewards and volume of PCI and insurance data available make the industry a tempting target.
“41% of the information sold on the black market comes from banking and financial services,” according to IntSights.
Despite this, the industry has been a trendsetter when addressing cyber risks, often being an early adopter of new defense strategies. To learn more about the banking and financial security landscape, download The State of Cybersecurity Report 2020 here.