Two-thirds of financial institutions hit with cyber attacks in past year
A recent report revealed a high occurrence of cyber attacks on the financial industry in recent months.
[link url=”http://www.metricstream.com/pressNews/pr-888-metricStream-research-report-on-cybersecurity.htm” title=”The State of Cybersecurity in the Financial Services Industry”] from MetricStream Research revealed that 66.2 percent experienced at least one cybersecurity attack in the last year.
MetricStream Research’s report took an in-depth look at more than 60 banking and financial services firms of multiple sizes around the world. Firms fit into various segments, including banking, insurance, asset management, investment services, and others.
French Caldwell, Chief Evangelist at MetricStream, said that many institutions aren’t even detecting attacks until it’s too late.
“As the report demonstrates, an increasing number of financial institutions are falling prey to cyberattacks; in fact, many are not even aware that they’ve been attacked until it’s too late.” — [link url=”http://www.metricstream.com/pressNews/pr-888-metricStream-research-report-on-cybersecurity.htm” title=”French Caldwell”]
Thx @MetricStream & @helpnetsecurity 4 our # of the Week! https://t.co/K2a6y5jnl8 & https://t.co/yNpO9TKZrx & https://t.co/LZcBnL0CnM #cyber pic.twitter.com/na79lAYb18
— Gate 15 (@Gate_15_Analyst) November 9, 2016
Attacks begin internally
In the study, 48.5 percent of financial organizations reported that internal employees played a role in the launch of an attack. That is, employee actions either directly or indirectly contributed to cyber breaches. Additionally, 70.6 percent of organizations noted that their cybersecurity programs include third parties.
Caldwell said that the best way to fend off cyber attacks is to hit back with more technology.
“Technology can prove a valuable ally in this endeavor, by aggregating risk and threat intelligence from across the enterprise, and transforming it into the insights that organizations need to secure their assets, and protect their brand.” — [link url=”http://www.metricstream.com/pressNews/pr-888-metricStream-research-report-on-cybersecurity.htm” title=”French Caldwell”]
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