The Financial Industry Needs to Get Real About Cybersecurity
A sector constantly under attack
Within the global sector of cybersecurity, the two major areas that are constantly under attack are finance and government. Financial organizations that hold consumer data, in particular those that provide financial services to retail and commercial customers like banks, investment companies, real estate firms, retail banking, and insurance companies, are an obvious target for the simple fact that this is where the money is. At the end of the day, unless an attack is of a personal nature, in which the reputation of an individual or business is targeted, monetary assets are always the goal.
Now imagine a cyberthreat the same as you would a burglar walking down the street. When a thief leaves their home, they do not necessarily know what they are going to target, unless they have done some reconnaissance and are after something specific. In most cases, however, the target itself is not premeditated — a house that is more vulnerable and has less defenses will always be the first point of call. Given the choice between a house with an open window and lights out and a house with attack dogs, security cameras, and search lights, nine times out of 10, a burglar will take the opportunity to infiltrate the house with the open window. Why? Because it is easier and quicker to break into this house successfully.