Banks, credit unions, insurance companies,
Only 36% of Global Financial Organizations are Confident about their Security Posture
Even though the financial industry has been a target for attackers for a long time, it is still struggling to protect against various IT risks, according to the Netwrix IT Risks Survey.
Irvine, CA, August 1, 2017
Netwrix Corporation, provider of a visibility platform for user behavior analysis and risk mitigation in hybrid environments, today announced the release of its 2017 IT Risks in Finance infographics. Part of the recently published Netwrix 2017 IT Risks Report, these infographics are based on feedback provided by IT specialists working for financial organizations around the globe.
The 2017 IT Risks in Finance infographics provide insight into the IT challenges, security practices and plans common for financial organizations today. The IT risks are divided into three areas: security, compliance and operations.
The survey’s key findings for financial organizations are:
- 67% of financial organizations do not use any software for information security governance or risk management.
- 36% of financial organizations do not have a separate cybersecurity function.
- 91% of financial organizations focus their security initiatives on protection of databases.
- The biggest threat to system availability and security is employees, according to 55% of financial organizations, followed by third parties with legitimate access to internal systems (27%).
- 27% of financial organizations had security incidents caused by human error in 2016, and 18% of financial organizations dealt with malware in 2016.
- Only 36% of financial organizations claim to be well prepared to beat IT risks.
- Lack of time is the main obstacle to more efficient handling of IT risks (55%), followed by lack of budget (45%) and complexity of IT infrastructures (45%).
- 82% of financial organizations are going to focus their investments on protection against data breaches, and 73% will focus on protection against cyber-sabotage.
"Financial organizations may have flaws in their IT risks mitigation strategy, but they still have achieved impressive results compared to other industries we’ve surveyed. However, only one third of financial organizations have consistent and mature practices, which enable them to act proactively towards any new and existing threats," said Michael Fimin, CEO and co-founder of Netwrix. "Financial organizations still need, and this need is well acknowledged, to fortify the security by better protecting data against breaches and fraud and by mitigating human factor. These two areas are going to be a major investment focus in the near future."
To download the 2017 IT Risks in Finance infographics, please visit: netwrix.com/go/itrisksinfinance2017.
About Netwrix Corporation
Netwrix Corporation was the first vendor to introduce a visibility and governance platform for hybrid cloud security. More than 160,000 IT departments worldwide rely on Netwrix to detect insider threats on premises and in the cloud, pass compliance audits with less effort and expense, and increase productivity of IT security and operations teams. Founded in 2006, Netwrix has earned more than 100 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S. For more information, visit www.netwrix.com
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