5 Major Cyberthreats Facing the BFSI Industry
Cybersecurity in the BFSI industry is one of the critical areas of concern today. The banking and financial services industry is highly regulated on the cybersecurity front. Why is it so? The total cost of data breaches in the financial sector in 2021 was USD 5.72 million on average, second only to the healthcare industry. The growing sophistication, severity, and lethality of cybersecurity threats to the financial sector further accentuate the industry’s challenges.