Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information on how we use and manage cookies please take a look at our privacy and cookie policies. Some parts of the site may not work properly if you choose not to accept cookies.

Home > Delta Risk > Cybersecurity Primer for Banking and Financial Institutions

Cybersecurity Primer for Banking and Financial Institutions

White Paper Published By: Delta Risk
Delta Risk
Published:  Jun 07, 2016
Type:  White Paper
Length:  15 pages

“It takes twenty years to build a reputation, and five minutes to ruin it.” ~ Warren Buffett

Nowhere else could that wise advice be more relevant than in contemplating the effects of cyber attacks on financial institutions. As stated in a recent issue of the FDIC’s Supervisory Insights, the risks presented by cyber attacks have become “one of the most critical challenges [in the last decade] facing the financial services sector due to the frequency and increasing sophistication of cyber attacks.” In just a year’s time, from 2014 to 2015, the occurrence of security incidents increased 38 percent as reported in a survey of 10,000 security, IT, and executive personnel. Just as concerning, the attackers perpetrating these breaches were able to compromise the victim organization within a matter of minutes in 60 percent of cases.

Tags : 
cyber threats, security breaches, malware and vulnerabilities, internet security, security