According to Accenture report, one in seven breach attempts targeted at banks and capital markets firms still succeed. Here are four major cybersecurity trends in the financial sector you must know about.
ML in cybersecurity will boost big data, intelligence, and analytics spending to $96 billion by 2021, as per ABI Research report. ML and AI are used to enhance the detection of threats.
The Transparency Market Research projects the global blockchain technology market to be worth $20 billion by 2024. Blockchain will become a major source of digital security as it helps shield user data from being tampered with and reduces costs.
Ransomware continues to pose a threat and the damage costs may exceed $20 billion by 2021, according to Cybersecurity Ventures, triggered by poor credentials, authentication challenges, etc.
The digital currency market is estimated at about $13 billion and growing. As cryptocurrencies garner more utility in enterprise settings, their digital nature makes them vulnerable to theft along with misuse for money laundering and as reason for cryptojacking.
