CDSA

Laughing All the Way to the Bank: Cybercriminals Targeting U.S. Financial Institutions (Forbes)

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The risk of cyberattack on financial services firms cannot be overstated. Cyberattacks cost financial services firms more to address than firms in any other industry at $18 million per firm (vs. $12 million for firms across industries). Financial services firms also fall victim to cybersecurity attacks 300 times more frequently than businesses in other industries. In other words, while the typical American business is attacked 4 million times per year, the typical American financial services firm is attacked a staggering 1 billion times per year.