Transforming cybersecurity in the Financial Services Industry
New approaches for an evolving threat landscape
It is clear that the growth in cybercrime has continued,if not accelerated, in the financial services industry. US financial services companies lost on average $23.6 million from cybersecurity breaches in 2013, which represent the highest average loss across all industries.
The potentially greater impact from cybercrime is on customer and investor confidence, reputational risk and regulatory impact that together add up to substantial risks for financial services companies. A recent global revealed that cyber risk is now the world’s third corporate-risk priority.