Financial Services: Reduce the Cyber Risk From Within
Seventy-four per cent of respondents to a recent EY survey of global executives and IT leaders say that careless employees are the most likely source of a cyberattack. And while 56 per cent of respondents named criminal syndicates as the main source of cyber-attacks, 52 per cent also identified malicious employees as a significant risk. With IT professionals identifying insider threats as nearly as high a risk to those presented by professional cybercrime syndicates, security measures focused at the perimeter of the ecosystem are no longer adequate.
Study: Most Companies Have No Idea How Much a Cyber Attack Could Cost Them
While the math isn’t exact and numbers vary across the board, the consensus is pretty clear: it costs a lot more than these people think. According to one study from Hewlett Packard Enterprise, the average annual losses per US company that experiences a cyber attack is $15.4 million in 2016. Another study from IBM estimated the cost at around $3.62 million in 2017. While this data is far from consistent, one thing is clear: it costs a whole lot more than $500,000.
Stay up to date on the Financial Services Information Security news that you need to know by signing up for our Financial Cybersecurity Briefing Here.
Critical Informatics and the Critical Informatics logo are the trademarks of Critical Informatics, Inc. All other brand names, trademarks, service marks and copyrights are the property of their respective owners. © 2017 Critical Informatics, Inc. All rights reserved.