Credit unions and banks are under a considerable amount of pressure to ramp up security with increased mobile banking adoption, a trend that is increasingly threatening the security of IT infrastructures.

That is one disturbing finding from Woburn, Mass. based Kaspersky Lab's "Financial Institutions Security Risks Survey." To gain a better understanding of the current financial security landscape, Kaspersky Lab and B2B International surveyed 841 representatives from financial services businesses across 15 countries.

The study showed security investment is a high priority for financial institutions, regardless of the potential ROI. After suffering from attacks on their own infrastructure and customers, financial organizations are spending three times as much on IT security as comparably sized non-financial institutions.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).