2017 Financial Industry Cybersecurity Research Report

SecurityScorecard analyzed and evaluated the cyber security posture of nearly 3,000 financial institutions to find existing vulnerabilities within banks, investment firms, and other financial organizations to determine the cybersecurity performance of the financial sector. A breakdown of the data by security category and also a closer look at the performance of FDIC-insured banks, revealed the following key insights about the financial sector:

  • 45% percent of the financial firms had at least one malware event between March and August 2017, a proof point that hackers frequently target the financial industry.
  • Financial institutions fall victim to breaches more than companies in the telecommunications, transportation, food, manufacturing, and pharmaceutical sectors combined. 
  • The financial industry has difficulty managing third-party security risks that arise from the availability of leaked credentials and exposed passwords
  • With respect to cybersecurity health, only 25% of the 20 Highest Performing FDIC- insured banks received an 'A' grade in DNS Health

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