Financial services cyberattacks in 2021 as a result of data breaches cost organizations an average of $5.85 million and took an average of 233 days to identify.
Cyberattacks are becoming increasingly commonplace against financial institutions. Criminals can commit extortion, theft, and fraud against banks for personal gain, while nation-states and hacktivists may target financial institutions for political reasons.
Regardless of the motivation, attacks against banks, credit unions, and other financial firms can have serious consequences for both the institution and its customers.
With over 20 years of experience protecting organizations’ networks and devices, CyberMaxx has proven to be the go-to partner working with in-house teams to create a unified front against cyber threats.
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99% Retention Rate
With a client roster of over 1,000 locations, we keep customers happy to the tune of a 99% retention rate.A Tailor-Made Experience
Our approach adapts as your business does with a comprehensive suite of security programs to anticipate, defend, and eliminate security threats in real-time.Stronger Defense
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10% of breaches involved organizations in the financial industry.
Financial services data breaches are becoming increasingly common, with over 415 taking place in the last year alone. The average cost of a data breach for a financial institution is a staggering $5.85 million, and criminals have ransomed a total of $2.4 billion from financial institutions in 2021.
This problem is only getting worse and something needs to be done to protect both consumers and businesses from these devastating attacks.
According to a recent study, the average financial services business takes 233 days to detect and contain a data breach. This is a significant amount of time for sensitive information to be left exposed. In order to protect their customers, businesses in the financial sector must be vigilant about data security.