Banks and financial institutions play a critical role in global business and operate under intense pressure, shaped by complex regulatory demands and rigorous oversight from regulators and government bodies. While operating in fiercely competitive markets, they must also defend themselves from a deluge of cyber threats.
Not only are financial organisations attractive to criminals, their central role in the economy also attracts the attentions of well resourced nation-state-affiliated hackers. This research explores the state of cyber security among organisations in retail and investment banking, payment systems and related services, along with businesses involved in clearing, settlements and so on.
Among our top findings within financial services organisations:
- 39% consider data privacy and protection one of their biggest cyber security challenges
- 70% are concerned about Russia state-linked actors
- Supply chain attacks were the most time-consuming type of attack to respond to.
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