Cyber Risks Facing Financial Services Organizations in 2021 and Beyond

The financial sector, subject to stringent regulatory requirements, has higher average security breach costs than most other industries. As IBM points out in its 2020 Cost of a Data Breach Report, public sector organizations traditionally have the lowest costs because they are unlikely to experience a significant loss of customers as a result of the data breach. Naturally, due to the kind of data banks and other companies collect from customers, the financial sector has always had a target on its back. COVID-19 has only compounded the problem with threat actors taking full advantage of these uncertain times. Read the complete article here.