There are 300 percent more cyber attacks in financial services than any other industry. 300 percent! And it’s no wonder, really. With potentially sky-high rewards if they hit the jackpot of infiltrating banking networks, it’s no wonder hack after hack is aimed at financial services organizations.
Saying that regulatory pressure is over loading financial services IT departments is a bit like saying people don’t trust real estate agents – it’s stating the obvious. And it has gotten a whole lot worse since the global financial meltdown. As investment bankers played black jack with retail banking customers’ cash, the regulators had to put measures in place to protect consumers, their data and above all, their money.
Barely a week goes by without some enormous organization falling foul to a cyber attack and the financial services industry is far from immune. With its potentially sky-high rewards, the financial services sector is right up there on the hackers’ most wanted list.