Work from Home is To Blame for Financial Services Cyberattacks

This article has been indexed from Softpedia News / Security

With the beginning of the COVID-19 pandemic, corporate cybersecurity resilience has been challenged. Cybercriminals have targeted the financial sector on numerous occasions, and this pattern is expected to continue. 

As reported by a recent study, before COVID-19 attackers specifically targeted security vulnerabilities in financial services businesses because the majority of staff had to leave work at the end of the day. Financial Security Board (FSB) have revealed that the COVID-19 pandemic has emphasized the importance of enhancing resilience in the face of rapid economic, financial and technological change.

While outsourcing to third-party service providers, such as cloud computing, looks to improve the operational resilience of financial institutions, a growing reliance on those services can result in new challenges and weaknesses. It is vital to have effective risk management thro…

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