The financial industry must take extra steps to protect its customers’ sensitive data out of legal obligation and respect for their privacy. With careful security measures, they can ensure clients feel secure, entrusting them with this vital information. Despite the state-of-the-art defences companies employ, the threat of a data breach still looms ominously over sensitive information. Fortunately, there are effective strategies to lessen this risk and keep our most valued assets safe. News of costly data breaches is all too common in the financial sector. From Capital One to other institutions, malicious actors have exploited security loopholes and put sensitive information at risk – something that casts a wary eye on how protected our digital assets are. These companies must remain vigilant in providing adequate measures to secure their customers’ data from exploitation. Finance Companies as the Leading Recipient of Data Breach The leading cause of data breaches in the financial sector is an eye-opener; it isn’t those dreaded hackers declaring war online while wearing creepy masks. The truth is that more than half of the occurrences are attributed to internal activities – hidden in the daily mundane activities of employees and everyone else who has access to the IT…

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