More than 60% of All Leaked Records Exposed by Financial Services Firms
A new report says that hacking and malware cause 75% of all data breaches in the financial services industry.
The 2019 Financial Breach Report: The Financial Matrix by Bitglass found that only 6% of all breaches in 2019 were suffered by financial services firms. However, these breaches compromised significantly more records than those that occurred in other industries. In total, more than 60% of all leaked records in 2019 were exposed by financial services organizations. This is at least partially due to the Capital One mega breach, which compromised more than 100 million records. Despite this outlier, average breaches in financial services companies still tend to be larger and more detrimental than other sectors’ breaches. Fortunately, they do occur less often.