BFSI.

Why Cyber Security Matters in BFSI.

In the current day and age, hackers are continuously becoming more advanced, more effective, and more aggressive. In fact, according to PWC’s Global Economic Crime Survey, cyber crimes are among the most commonly reported economic crimes with financial institutions being the main targets. The nature of the information that BFSI organizations possess (financial records, social security numbers, etc) makes them incredibly attractive to hackers and malicious cybercriminals of the like.

In the past, financial institutions used threat monitoring solutions for detecting potential frauds or destructive behaviors. This is no longer enough. As attackers become more skilled, their attacks become more difficult to detect and appear more like normal behavior. With proper cyber security threat analysis, you can prepare yourself and your business from threats.

Quick Stats

BFSI at a glance

67%

of cyber attacks on financial institutions are successful and undiscovered within a day.

783

cyber attacks were reported in the top 20
financial institutions in 2018

1 in 4

surveyed said that insufficient cybersecurity staff has damaged their organizations reputation and contributed directly to a loss of proprietary data

Common Threats in BFSI

manipulated-data@3x

Manipulation of Transactions

outdated-security-protocol@3x

Bypass of Two-Factor Authentication

internal-attacks@3x

Bypass of Fraudulent Controls

unencrypted-data@3x

Loss of Personal Financial Data

spoofing@3x

Falsification of Identity (Spoofing)

Make sure your customers' financial assets and information are safe.

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