in 2016, cyber crime cost the global 48 economy over … · in 2016, cyber crime cost the global...
TRANSCRIPT
CYBERTHREAT
F I N A N C E C Y B E R T H E F T
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ONE OF THE BIGGEST THREATS TO THE FINANCIAL INDUSTRY
IN 2016, CYBER CRIME COST THE GLOBAL ECONOMY OVER$450 BILLION
The financial services industry experiences higher cybercrime costs than organizations in retail, hospitality and consumer products.4
48%of
51.5 DAYS is the average time it takes to resolve malicious insider cyber crime.3
The financial industry has the HIGHEST ABNORMAL
of all industries - 5.7% globally - after a data breach.
CUSTOMER CHURN RATES
DENIAL OF SERVICE ATTACKS ACCOUNT FOR
all incidents in financial services.234%
of
A LARGE U.S. INSURANCE COMPANY AGREED TO PAY A
settlement with attorneys general from 32 states in connection with an earlier data breach that exposed the personal information of over 1.2 million individuals.5
MILLION $5.5
Financial and insurance services account for 7.5% of incidents.1
DATA BREACHincidents in financial services are web application attacks.2
Sources:1. https://www.cnbc.com/2017/02/07/cybercrime-costs-the-global-economy-450-billion-ceo.html navigant report: https://www.navigant.com/insights/legal-technology-solutions/2017/cyber-threat-intel-report-q1-2017#article12. http://www.verizonenterprise.com/resources/reports/rp_2016-DBIR-Financial-Data-Security_en_xg.pdf3. 2016 Cost of Cyber Crime Study & the Risk of Business Innovation4. 2017 Cost of Data Breach Study, Ponemon (global and U.S.)5. https://www.huntonprivacyblog.com/2017/08/10/nationwide-agrees-pay-5-5-million-settle-multistate-data-breach-investigation/
PAYMENT CARD SKIMMERS ACCOUNT FOR
6%of
JUSTincidents in this sector. 2