As the world continues to digitize, financial services become more susceptible to cyberattacks each year. With ransomware attacks, nation state recruitment efforts, the Great Resignation, changing employee behaviors, and partners, third-party contractors and consultants gaining more access to company software, there are a myriad of opportunities for attackers to target financial services organizations. Size is no defense – big banks like J.P. Morgan will be targeted because of the large amount of sensitive data they hold, while smaller financial institutions will be targeted because they don’t have the budgets for adequate security infrastructure and attackers know it.

Just how significant is the problem? Here are some statistics:

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