The financial sector is experiencing the second highest number of phishing attacks (25%)1 and Distributed Denial of Service (DDoS) attacks (28%)2 of any industry sector according to various reports. In the past few months alone, reports have been released regarding major banks across the globe falling victim to data breaches or cyber attacks, including some of the largest banks in the United States, European, Asian, and even African countries. It’s clear that these attacks can cause significant damage—both reputational and financial.
In May of 2018, the General Data Protection Regulation comes into effect across the European Union, meaning that companies that do business in and with the EU are subject to a fine of up to 4% of annual global turnover if sensitive information is leaked. Whether you represent a financial institution or other industry, the fees leveled for a breach can be significant.
While there are many questions in the race to keep your digital assets secure, our latest Cyber Security Report not only provides insight on such cyber attacks, but ways to counter them before they even happen. In this downloadable report, you will find invaluable information based on our analysis of 200 global financial and insurance companies, which reveals that even the largest institutions have many aspects to consider to improve their cyber security posture.
For more information on reviewing and assessing your digital assets for cyber security readiness, contact us for a consultation, we’re ready to talk.