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Cyber Attacks Biggest Threat to Financial Sector

July 09, 2019 / Kacy Zurkus

Financial services organizations are suffering from an increased number of phishing attacks, according to a new report Mobile Security in the Financial Services, published by Wandera. Researchers analyzed 4.7 million events across the subset of devices over the 6-month period. For mobile alone, each organization had an approximate average of 21,000 events. The report found that across other industries, phishing represents 42% of attacks, which is significantly lower in volume than those of the financial services industry, which is 57%. “Phishing attacks are a daily threat for financial services companies and employees need regular training to help identify phishing attacks – not only via email, but also through social media and other messaging platforms. However, given the growing sophistication of phishing campaigns, FS companies can’t rely on awareness training as the only layer of defense. A multi-level approach needs to be adopted at the endpoint and in the networ...