Fintech faces increased threats

Most Fintech companies are responding to the increased global cyber threats. They are well aware of the war between Russia and Ukraine and understand the risks of cybercrime.

A new study on the Endpoint Ecosystem looks at how people use devices in high-risk and highly regulated industries. There were several eye-opening findings.

  • Passwords are a liability. Only 31% of people use a password management tool.
  • The use of unapproved apps and services is uncontrolled.
  • Over 41% of people say security policies restrict the way they work.
  • Many employers have not addressed the security risk of personal devices.
  • 64% of people use a personal device for work while only 43% of those devices have BYOD security enabled.
  • 73% of employees value their personal privacy over company security.

The good news is that Fintech workers were found to be the most cyber aware of all the industries surveyed in the report, with 74% of finance workers believing they will get fired for a data breach while 68% believe their executives should be fired for a privacy breach.

Why this is so important… over the past two years employees have become more reliant on their devices, while the world witnessed a 500% increase in cyber security attacks.

Get the report here.

Interested in a 30-day issue-focused support package to help you identify your gaps and develop a strategy to mitigate your risk? Contact Charlene@fismacs.com or call (301)346-3752 to schedule your free consultation today. Schedule your consultation here.

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