Financial services companies blocked 81% of cyber breach attempts in 2017, increased from 66% in 2016, according to Accenture. The data, based on 4,600 enterprise security practitioners representing companies with $third annual revenues, shows that financial firms are catching up to hackers. However, the fact that over 40% of breaches were not detected within a week and 9% were not detected within a month demonstrates that there is still progress to be made. As such, 83% of financial services executives said new technologies, like AI and machine learning, are vital to cybersecurity in the future.
Financial services companies blocked 81% of cyber breach attempts in 2017, increased from 66% in 2016, according to Accenture. The data, based on 4,600 enterprise security practitioners representing companies with $1bn annual revenues, shows that financial firms are catching up to hackers. However, the fact that over 40% of breaches were not detected within a week and 9% were not detected within a month demonstrates that there is still progress to be made. As such, 83% of financial services executives said new technologies, like AI and machine learning, are vital to cybersecurity in the future.