Aon reveals cyber attack/data breach as top risk for financial institutions

Cyber attacks and data breaches are the top risks facing the global financial industry, according to a survey by insurance broker Aon. Regulatory, legislative changes and economic slowdowns also pose significant risks. While 60% of financial institutions have plans to deal with these threats, only 20% have quantified these risks, and 28% have a risk management plan. The industry has seen a 26% loss of income from these risks. The inability to attract and retain top talent is also a growing concern.