Cyber attacks increase for financial services industry

Increase in cyber attacks against the Financial sector TransUnion Launches Identity Theft Protection Solution as Cyber-Fraud Continues to Grow in Canada – A recent Forrester Consulting study commissioned by TransUnion revealed that 74% of financial services decision. regardless of industry. Regarding cyber security incidents, it is a matter of when.

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Cyber-attacks pose an increasing risk for companies all of types. The financial services industry is especially susceptible to cyber-attacks like.

Cyber attacks on the UK's financial services sector increased by a massive 480% last year, with insurance companies and investment banks.

 · The number of cyber attacks against financial services companies reported to the Financial Conduct Authority (FCA) has risen by more than 80% in the last year. In 2017, 69 material cyber incidents were reported to the FCA, an increase on the 38 in 2016 and 24 in 2015.

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financial institutions and public confidence in the financial system if a catastrophic event like a cyber attack causes critical systems, including backups, to fail.” Under the industry-led,

This might lead you to believe that increased spending on cyber security for financial services is mitigating threats in the industry, but don’t be fooled. Despite dropping down in the rankings of most vulnerable companies to cyber attacks, the financial services industry still faces very serious threats.

Good afternoon Chairman Capito, Ranking Member Maloney, and members of the subcommittee. I’m pleased to appear before you today to discuss the cyber threats facing our nation and how the FBI and our partners are working together to protect the financial sector and American consumers.

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 · The financial services sector has traditionally been viewed as highly mature when it comes to cybersecurity initiatives. In fact, this BitSight Insights report found that the financial sector had the highest Security Rating of all examined industries. But even though companies in the financial sector has been discussing the necessity of monitoring cybersecurity for quite some time, the threat.

Since financial data is one of the most appealing targets for hackers, institutions dealing primarily in finance need to remain extra vigilant about cybersecurity.In fact, security experts cite cyber threats as one of the top risks to financial markets. To help your organization plan for the coming year, here are 2016’s top 10 cybersecurity threats for financial institutions.

The financial services industry remains among the most targeted industrial sectors.. and expand operations, they significantly increase their risk footprint.. FIN6 – Follow the Money: Dissecting the operations of the cyber crime group. play the.

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