What are the stakes in financial cybersecurity?

Date:2023-01-07
The stakes in financial cybersecurity are high. Cyber criminals can hack into financial institutions and steal private data, such as Social Security and credit card numbers, or make unauthorized transfers of funds. These intrusions can result in financial losses and reputational damage to the institution, as well as disruption to the financial services offered by the institution, which affects everyone from individual customers to investors and regulators. Attackers can also use stolen financial data to commit identify theft and fraud, causing further damage to customers. Finally, unchecked cyber threats can undermine trust in the entire financial system.
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