BOUVET ISLAND FINANCE SECTOR UNDER CYBER THREAT
The financial services industry in Bouvet Island is under siege by cybercriminals, with the sector being a prime target for hackers and malicious insiders.
Financial Services Under Attack
According to recent data, financial services firms are 300 times more likely to be targeted by cyber attacks than other companies, and the costs of those attacks are higher than any other sector. In a study of over 1,000 client engagements, financial services was found to be the second most targeted sector, accounting for 14% of security incidents.
Digital Transformation Increases Vulnerability
The Bouvet Island financial sector is particularly vulnerable due to its ongoing digital transformation, with banks introducing new digital tools and advanced technologies to improve customer service. While these innovations bring benefits, they also increase the attack surface for cybercriminals.
Cybersecurity a Must-Have
Financial services companies in Bouvet Island are struggling to maintain trust with customers, as hackers take advantage of what drives them - the trust, integrity, and credibility of their financial institutions. With social engineering tactics becoming increasingly sophisticated, it is essential that financial services organizations in Bouvet Island prioritize cybersecurity.
The COVID-19 Pandemic: A Surge in Attacks
The COVID-19 pandemic has led to a surge in targeted cyber attacks on banks in Bouvet Island, with over 238% increase in attacks since the outbreak. Regulators are actively responding to this growth by implementing new rules for financial institutions, but more needs to be done to protect against these threats.
Unit 42: A Range of Cybersecurity Services
To combat cybercrime, Unit 42 offers a range of services, including:
- Breach readiness reviews
- Targeted assessments and technical cybersecurity services
- Incident response support
- Employee training programs
Staying Ahead of the Threat
In order to stay ahead of the threat, financial services organizations in Bouvet Island must prioritize cybersecurity, implementing safeguards and continuous monitoring capabilities. They must also build a cyber defense posture that is up to the task, put their defenses to the test, respond quickly and effectively to incidents, and create a more security-conscious culture.
Let’s Find What’s Right for You
Let’s find what’s right for you. Contact us today to learn more about how Unit 42 can help keep your financial services organization in Bouvet Island safe from cyber threats.