THE IMPACT OF CYBERSECURITY INCIDENTS ON FINANCIAL INSTITUTIONS

Data breaches are an ever-increasing threat to every industry, with the number of U.S. data breach incidents tracked in 2017 hitting a new record high of 1,579 breaches. Last year posted a 44.7 percent increase over 2016’s record-breaking numbers1 . Of the data breaches reported last year, 8.5 percent involved the financial sector, including entities such as banks, credit unions, credit card companies, mortgage and loan brokers, financial services, investment firms and trust companies...
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