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Brief

Financial Institutions & the Increasing Risk of Data Breaches

Financial services and institutions have become large targets for cybercrime, with over a billion accounts compromised in 2014.1 For each attack on company data, the US averaged a loss of $5.85M in damages for crimes mostly relating to account access, financial access, and identify theft.2 With the changing technological and economic landscape, managing your institutional, employee, and customer information has become more important than ever. Without the proper measures set in place, your organization can face not only major financial consequences such as fines, legal fees, and penalties, but also business disruption due to opportunity losses, as well as reputational and loyalty damage. Avoid potentially permanent damage to your organization’s future and financial worth by evaluating your market and talent pool.Financial services and institutions have become large targets for cybercrime, with over a billion accounts compromised in 2014.1 For each attack on company data, the US averaged a loss of $5.85M in damages for crimes mostly relating to account access, financial access, and identify theft.2 With the changing technological and economic landscape, managing your institutional, employee, and customer information has become more important than ever. Without the proper measures set in place, your organization can face not only major financial consequences such as fines, legal fees, and penalties, but also business disruption due to opportunity losses, as well as reputational and loyalty damage. Avoid potentially permanent damage to your organization’s future and financial worth by evaluating your market and talent pool.

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