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Breaches to financial services tripled over last five years

It has been revealed that the number of breaches suffered by the financial services sector has tripled over the past five years. The study, conducted by Ponemon found that the average cost of cybercrime for financial services companies globally has increased by more than 40 percent over the past three years, from $12.97 million per firm in 2014 to $18.28 million in 2017 – significantly higher than the average cost of $11.7 million per firm across all industries included in the study.

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ORIGINAL SOURCE: Helpnetsecurity

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