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par Netwrix • 17 Jan 2019
The Netwrix survey shows that expectations about IT risk factors in the financial sector do not always match the reality.
On the one hand, these institutions seem to understand that the human factor is the root cause of most incidents. On the other hand, they are often mistaken about who poses the biggest threat to their data and systems: For every IT risk, they are most afraid of hackers, while in reality their own business users and members of IT team are responsible for the most incidents.
The survey results also showed that protection against data breaches is the top IT risk priority for the majority of financial institutions (81%). This is not a surprise, considering the severe consequences these organizations face if confidential data is compromised. According to Ponemon’s 2018 Cost of Data Breach Study, financial services is the industry with the second largest per capita cost of data breach among all industries ($206 per each lost or stolen record). Headlines about financial organizations experiencing data breaches may be the reason why most financial organizations plan to increase their security investments by 157% in the next 5 years and consider better detection of external and internal threats as the key way to improve cybersecurity.
View the full infographics for the 2018 IT Risks Survey and the results for the financial sector here: