Kaspersky: Most Financial Services Firms Exposed to Cyber ThreatsKaspersky: Most Financial Services Firms Exposed to Cyber Threats
Kaspersky Lab today released the "Global IT Security Risks 2014 -- Online Financial Fraud and Protection" survey of 3,900 international business-to-business (B2B) IT professionals. A full 82 percent of those IT pros said they would consider leaving a financial services firm that suffered a data breach.
September 8, 2014
Antivirus software provider Kaspersky Lab found the majority of financial services organizations were recently exposed to cyber threats.
A new survey from Kaspersky and marketing research company B2B International, titled “Global IT Security Risks 2014 — Online Financial Fraud and Protection,” revealed 93 percent of these organizations dealt with cyber threats between April 2013 and May 2014.
Other survey findings included:
82 percent of IT professionals said they would consider leaving a financial institution that suffered a data breach.
74 percent said they choose a financial services organization based on its security reputation.
53 percent said they prefer to pay more for the best security solution for transaction protection.
34 percent said the protection of sensitive information is a top priority for their IT department.
Roughly 27 percent said they are willing to suffer losses due to cyber crime because they believe the cost of protection will outweigh the cost of the losses.
“While it is encouraging that financial services organizations recognize the damage to their reputation that can result from a cyber attack, it is concerning that many firms have not taken the necessary steps to implement proper security,” Ross Hogan, global head of Kaspersky’s fraud prevention division, said in a prepared statement. “Based on these survey results, we expect to see more financial services organizations take the necessary steps to not only protect customer data and financial information, but to take the steps needed to ensure their important reputation remains intact.”
The survey included responses from 3,900 international business-to-business (B2B) IT professionals who were asked about business conditions from April 2013 to May 2014.
How can MSPs protect their sensitive financial data?
John Murdock, Kaspersky’s vice president of channel sales, told MSPmentor he believes managed service providers (MSPs) can use a “multi-layered security strategy” to protect their sensitive financial data against cyber threats.
“Cyber crime is exploding, and every MSP must take extra measures to ensure the security of their customers’ information and network assets. A multi-layered security strategy is the only way, closing doors and preventing malicious behavior wherever possible,” he said.
Murdock added educating customers about IT security issues also is important for MSPs.
“As an MSP, your customers rely on you for ensuring the most secure and reliable infrastructure, policies and oversight are employed. Your knowledge of security and best practices is what attracts customers,” Murdock said. “As an MSP, you should routinely meet with customers, demonstrate leadership to urge customers to employ broader security measures and stay ahead of the criminals as the threat landscape evolves.”
About the Author(s)
You May Also Like
AWS re:Invent Partner, Vendor News: Cisco, Salesforce, MoreDec 01, 2023
People on the Move: Comcast, Cisco, NICE, TPx, Barracuda, MoreNov 29, 2023
AWS re:Invent 2023 Partner News: Marketplace, Salesforce, Certs, MoreNov 29, 2023
AWS re:Invent Expo: VMware, Snyk, HPE, More Showcase Cloud, Security, AINov 28, 2023