GUEST RESEARCH: Varonis, a global pioneer in data security, has just released its 2021 Financial Services Data Risk Report, which delves into the state of data security in the banking, insurance, and investment sectors.
Financial services remains one of the most targeted industries by malicious attacks, partly due to the sensitive data it collects from customers, with the average cost of a data breach among the highest of any industry at 5.85 million USD. Despite the need to protect this sensitive data, on average, every employee has access to nearly 11 million files.
The abrupt transition to remote work has exponentially increased this risk, with employees logging in through unsecured networks and home computers. Furthermore, it has potentially increased the response time to a data breach.
Some of the key findings include:
The full Varonis report can be accessed here.
Organisations in Australia are turning their attention to business transformation to improve employee systems as the "post-pandemic" world increases the reliance on technology, according to a new study which reveals that spending and investment on IT is growing despite the current economic headwinds.
Fantastic innovation that will relieve many organisations handling sensitive data. Thanks Stephen for sharing!
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