Cyber attacks increase for financial services industry

Cybersecurity in financial services: PwC – Firms should balance being open with being secure. As attacks increase and regulators take closer notice, the pressure to act mounts.. US financial services cybersecurity Leader. and insurance are helping our clients tackle the biggest issues facing the financial services industry.

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 · Cybersecurity issues are becoming a day-to-day struggle for businesses. Trends show a huge increase in hacked and breached data from sources that are increasingly common in the workplace, like mobile and IoT devices.

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As stewards of financial assets and personal information belonging to their clients, the financial services industry continues to be highly targeted by cyber criminals. Sophisticated threat actors favor the endpoint as it is seen as the weakest link in the security infrastructure as opposed to the hardened network perimeter.

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.

In 2016, most attacks against financial services firms were. The researchers also report a 50 percent increase in ransomware attacks, compared to 2015.. For its 2016 Financial Industry Cybersecurity Report, the security.

Financial Services Cyber Security | FireEye – Your top cyber security challenge is your obligation to protect your clients’ assets. The financial services industry remains among the most targeted industrial sectors. From banks to brokerages, threat actors target financial institutions to steal your employee, customer and business data.

Live Well Financial shutters origination operations Live Well Financial has ceased originating loans, the company announced on its website Friday. The homepage message said only that it would not be originating new loans as of May 3, 2019, "due.

Cybersecurity in the Financial Services Sector. The rise in frequency and sophistication of cyber threats can be attributed to various types of.

Criminals target financial firms because that’s where the money is. Cybercrime hasn’t changed this, but it has ramped up the speed and the consequences. Firms should balance being open with being secure. As attacks increase and regulators take closer notice, the pressure to act mounts. By.

The financial services industry is the target of a whopping 65% more targeted cyber-attacks than the average business, according to security watchers at IBM’s X Force. The number of financial.

Share A Magnet for Cybercrime: Financial Services Sector on Twitter Share A Magnet for Cybercrime: Financial Services Sector. on average, a 29 percent increase in attacks against financial.

 · The financial services industry experiences 35% of all data breaches, earning it the unflattering title of the most-breached sector. It’s easy to understand why. The industry is known for its.