30-second summary:
A recent report by a risk consulting firm highlights the increasing threat of ransomware attacks and data breaches in the financial industry. The report found that ransomware gangs are specifically targeting financial institutions and successfully gaining access to sensitive information. The growing sophistication of these attacks presents a major concern for the industry, as the potential financial and reputational damage from data breaches is significant. The report emphasizes the need for robust cybersecurity measures and proactive defense strategies to mitigate the risk of future attacks. It also suggests that financial institutions should prioritize investment in cybersecurity to safeguard their operations and customers’ data.
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fortune.com
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