Cybercrime is the financial institution's most substantial risk.
For hackers, the financial industry is like the ideal gift. From your financial information and bank account information to identity information, banks and other financial organizations hold all the information a cybercriminal might possibly need.
Multiple techniques are used to carry out security assaults. For the financial industry, phishing continues to be a serious problem as it has for many years.
One of the challenges in the banking industry is communicating to all parties involved—including the board—that cybersecurity is a problem that affects the entire organization, not just IT.
This is a widespread issue that affects all industries, but the direct attacks on financial services are having a particularly large impact throughout the ecosystem.
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