You know banks and related financial institutions are primary targets for cyberattacks and other security threats. In fact, notorious 20th-century bank robber Willie Sutton famously said he robbed banks “because that’s where the money is.”
Times really haven’t changed much since then. Even as IT security is tightened, attackers are finding more innovative ways to target financial institutions — which is why it’s imperative to upgrade IT security systems and application security programs regularly.
The banking, financial services and insurance (BFSI) sector is impacted by various regulations that protect such organizations and their customers from potential cyberthreats.
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