In the last week, The U.S. House of Representatives ordered its staff and lawmakers to delete TikTok from any government-issued mobile device due to security concerns with the popular video-sharing app. But, it’s not just the government taking action for a potential security vulnerability. A handful of college campuses announced that they are banning access to TikTok from campus WiFi in accordance with their respective governors’ executive orders.

As both consumer and commercial banking clients shift to primarily utilize online banking, they still have high expectations that their financial assets will be secure. In 2021, the banking industry reported 703 cyberattack attempts per week — a 53% increase from 2020. And the cost of cyberattacks in the industry has reached $18.3 million annually per breach.