As an industry, financial services are significantly vulnerable to cyber-attacks. The
Bank of England recently surveyed executives in the UK financial sector, finding that a staggering three-quarters (74%) deemed a cyber-attack to be the highest risk to the financial
sector in both the short and long term, followed closely by inflation or a geo-political incident.
This is why financial services companies need to do more to fortify online defences. Preventative measures can safeguard sensitive corporate data from bad actors, and ensure that damage is mitigated when a breach occurs, or even stop it in its tracks completely.
Protecting identity in the digital arena
One key factor contributing to the ‘make or break’ of a breach is identity. According to a recent study, 84% of all IT security incidents are due to compromised
identities. From imitating CEOs, to emails that appear to be from IT support, cyber criminals have learnt to morph into those we trust. They are becoming more and more adept at stealing credentials, conducting social engineering attacks, and ultimately exploiting
poor identity security hygiene within enterprises.
Cyber criminals’ tactics have…
