The Security attacks continue to rise and impose a threat to financial institution due to of course the online platforms banks conduct business. Attack include, phishing, malware DOS, and penetration.
According to Accenture,”Of these attacks, one third (36%) were successful, that is, at least some information was obtained through the breach. It took 59% of banks several months to detect the breaches. Besides, 48% of respondents cited internal breaches as having the greatest cyber-security impact and 52% indicated a lack of confidence in their organisation’s ability to detect a breach through internal monitoring” .
Its obvious the banks are vulnerable to attackers and need a way to tackle the challenge faced.