Our latest addition to the industry-by-industry security analysis series is financial services.
Financial services companies in the U.S. lost an average of $23.6 million from cyber-security breaches in 2013, the highest average loss across 26 industries, according to a report from the Deloitte Center for Financial Services. The study by the consulting firm, entitled "Transforming Cybersecurity: New Approaches for an Evolving Threat Landscape", notes that the growth in cyber-crime has continued, if not accelerated, in the industry.
A huge majority (88%) of the cyber-security attacks against financial services firms are successful in less than one day, the report says. On the other hand, only 21% of the attacks are discovered within a day, and only 40% of the companies involved are able to restore their business within that one-day time frame.Read More