In an age of technology, cyber-attacks are becoming more prevalent, more frequent and more threatening than ever before.
Now that the majority of institutions, particularly in the financial sector, are opting to transform their operations via new digital channels, automation and other advanced technologies, the dangers to companies are significantly heightened.
With the sudden increase in the frequency and scope of cyber-attacks around the world, new and impending regulations, have already prompted some of the financial sector’s biggest names to review their cyber security plans. In a recent Ernst & Young report, Turner Little found that more than half of respondents say their cyber security budget has increased over the last year.
In 2018, many companies understand that cyber security is a major risk, perhaps even the number one priority; particularly for technology-heavy companies. Cyber risks are constantly changing and are difficult to keep up with, which can be destructive. Unfortunately, no business can completely protect itself from a cyber-attack, but they can implement plans and strategies to help prevent breaches from occurring.
For many companies, customer data is…
