Digital banking provides faster processing of financial transactions, more convenience, and a model that allows for the continuation of a financial industry even in the face of a pandemic. However, digital banking makes banks vulnerable to cyberattacks. Banks are now facing fresh security challenges that were brought on or affected by COVID-19. Here is what you need to know about them and how to protect yourself.

BetterCloud released its first insider threats report: “State of Insider Threats in the Digital Workplace 2019.” The report found that 91 percent of IT and security professionals surveyed feel vulnerable to insider threats, and 75 percent believe the biggest risks lie in cloud applications like popular file storage and email solutions such as Google Drive, Gmail, Dropbox and more. 

Nearly 72 percent of U.S. federal actions involving employee theft in 2014 involved small businesses – organizations with fewer than 500 employees, according to the 2015 Hiscox Embezzlement Watchlist. Within that group, four of every five victim organizations had fewer than 100 employees, and more than half had fewer than 25 employees.

Financial Services and Retail organizations struggle to identify advance threat attacks once they are inside their network, according to a new Ponemon Institute Survey.

Cyber threats are the “new normal” for the financial services industry, according to Booz Allen in its annual list of the “Top Financial Services Cyber Security Trends for 2014.”

According to new research conducted by Unisys Corporation, security concern among Americans has declined for the second consecutive year to its lowest level since the company began tracking global security concerns in 2007.