The Threat of Systematic Cybersecurity Risk in Financial Services
It’s obvious that criminals follow the money, making financial services firms a top target for cyberattacks. Financial services firms fall victim to cybersecurity attacks 300 times more frequently than businesses in other industries. This equates to attacks of roughly 1 billion times per year, which is nearly the equivalent of 2,000 attacks per minute or over 30 attacks per second, costing each firm approximately $18 million.
Additionally:
- Banks lost $16.8 billion to fraudsters in 2017
- The average data breach cost for financial institutions rose 5 percent to $7 million per breach in 2017.
- The average cost to the financial industry per record, lost or stolen, during a breach was $336, compared to the cost per record of U.S. businesses of $225.
The challenges you face require unique solutions. The volume of attacks supersedes the staffing and time available for all organizations to investigate and respond. Implementing managed detection and response services with Zero Trust Analytics platform technology can help protect your organization against breaches. Contact us for more information.
by Keith Sazer | Director of Business Development, CRITICALSTART
June 4, 2019
Stay Connected on Today’s Cyber Threat Landscape
RELATED RESOURCES
- Webinar
Vulnerability Management’s Critical Role in Guarding Against Cyber Threats
Did you miss Critical Start’s webinar on Vulnerability Management? Watch the recap as Chris Ca... - Press Release
Critical Start Introduces Cybersecurity for Operational Technology (OT) with Upcoming Launch of Tailored MDR Service
PLANO, TX, April 24, 2024 – Today, Critical Start, a leading provider of Managed Detection and... - Quick Card
Critical Start Security Services for SIEM and Sumo Logic® Cloud SIEM
Critical Start offers a comprehensive solution that helps Sumo Logic SIEM customers achieve the full...
RESOURCE CATEGORIES
-
- Consumer Education(40)
- Consumer Stories(2)
- Cybersecurity Consulting(7)
- Data Breaches(15)
- Data Privacy(43)
- Incident Response(2)
- Interview(51)
- MDR Services(78)
- MobileSOC(9)
- News(5)
- Press Release(88)
- Research Report(10)
- Security Assessments(4)
- Thought Leadership(19)
- Threat Hunting(3)
- Video(1)
- Vulnerability Disclosure(1)