The financial industry is under attack. Cyber attackers continue to up the game by preying on individuals, small businesses and financial institutions, hoping to gain a more substantial payoff for their crime. One of the most comprehensive security breach studies, The Verizon Data Breach Investigations Report, reveals that worldwide fraud motives are most commonly financial (76%), followed by only espionage (21%), with the remaining 6% being FIG (fun, ideology and grudge).

This shift toward attackers reaching for a more significant payoff is evident; look at the numbers. The Symantec Internet Security Threat Report shared that new ransomware attacks tripled in 2016, as the average value demanded spiked from $294 to $1,077. And, Juniper Research reported that data breaches are estimated to reach a cost of $6.1 trillion dollars by 2021, only three years from now.

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