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, 2014 to 2015, security incidents increased 38 percent.
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.
Read on to understand:
- Why organizations continue to struggle with cybersecurity defenses
- The impact of new laws, regulations, and guidelines
- Best practices to protect organizations before and after a breach