The Damage of a Security Breach: Financial Institutions Face Monetary, Reputational Losses

Financial institutions are seeing a surge in attacks that could put any of them at risk for a security breach. The financial sector in the U.S. is one of the most targeted in the world, according to lawmakers. The top threats to the financial sector are asset misappropriation (67 percent), followed by cybercrime (39 percent), though it is becoming increasingly common. JPMorgan Chase has pledged to double that spending over the next year as a direct result of the security breach and increased the number of security professionals it employs.”]

Source: https://securityintelligence.com/the-damage-of-a-security-breach-financial-institutions-face-monetary-reputational-losses/