Surveys Show Cyber Risk Remains High for Financial Services Despite Preventative Steps

While financial services firms are spending more on key cybersecurity measures, the risk and the financial consequences of a breach remain high. Studies show that the average breach cost continues to rise in the U.S. and, for smaller financial firms especially, critical security gaps remain. This article highlights parts of three recent surveys conducted by Ponemon, TD Bank, and ACA Aponix with the National Society of Compliance Professionals that provide insight into the current state of vulnerabilities and benchmarking for financial firms. See “How Financial Service Providers Can Address Common Cybersecurity Threats” (Mar. 16, 2016).

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