Cybersecurity is a growing concern for businesses and individuals worldwide, with more people creating and leaving digital footprints in the virtual world. To this end, people need to secure their information by tightening their security protocols. Safeguarding information birthed the world of cybersecurity, which has become a lucrative career path for most tech-savvy people.
Cybersecurity is one of the daily topics people encounter in the media more than any time before. The most obnoxious scandals in politics and public life of famous people took place exactly due to cybersecurity leaks. Hackers and web-criminals get more inventive every day because they learn about leaks and bottlenecks of the digital security walls corporations are trying to fortify to defend user and corporate data.
Financial institutions serve as beacons for cybercriminals. With the potential to swipe all kinds of personal data from your bank accounts, hackers target multiple access points to your financial data. As a result, financial institutions average $100 billion in losses due to cybercrime each year.
But how are financial institutions and service companies acting to protect user data?