Exploring Bank Cybersecurity Risk
According to a recent McAfee Corp. report, the global cost of cybercrime topped USD 1 trillion in 2020, up almost 50% from 2018. The proliferation of reported and unreported attacks continues to increase at an alarming rate for several reasons including the potential for a financial payout, increased availability of tools to commit cybercrime, limited criminal enforcement to date, and a growing digital footprint. Attacks are becoming more sophisticated, not least due to the involvement of well-funded organized crime groups and nation-state actors.
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