Financial Sector Under Siege: 50 Cyber Attacks Annually – Cybersecurity Investment Needed

Financial institutions are ramping up their cybersecurity investments in response to increased threats, according to a report by Fastly. Data revealed that financial organisations suffered an average of 50 known attacks last year, more than any other sector, prompting 80% to increase their security budget. Despite this, 44% believe they overspent on cybersecurity tools, and only 54% fully utilised the tools they bought. The report also identified a dearth of skilled security professionals.