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Cloud-Based Threats Cost Financial Services Companies an Estimated $4 2 Million

  Infoblox Inc., the leader in Secure Cloud-Managed Network Services, today unveils new research into how the COVID-19 shutdowns challenged the financial services industry s core infrastructure. More than one year into the pandemic, banks, insurers, and other financial institutions report costly consequences to falling short of protecting their massive data troves from cloud-based attacks and network disruptions. Based on more than 800 responses from IT professionals working in the financial services industry in North America, Latin America, Europe and the Asia-Pacific region, the report highlights: Data breaches are an increasingly significant cost burden for the industry: Worldwide, financial firms that experienced a data breach reported estimated average losses of roughly $4.2 million per attack, with U.S. organizations hit hardest at $4.7 million in estimated losses.

Cloud-Based Threats Cost Financial Services Companies An Estimated $4 2M

Cloud-Based Threats Cost Financial Services Companies An Estimated $4.2M Respondents cite cloud vulnerabilities, IoT attacks, and data manipulation as most worrisome future threats Infoblox Inc., the leader in Secure Cloud-Managed Network Services, today unveils new research into how the COVID-19 shutdowns challenged the financial services industry s core infrastructure. More than one year into the pandemic, banks, insurers, and other financial institutions report costly consequences to falling short of protecting their massive data troves from cloud-based attacks and network disruptions. Based on more than 800 responses from IT professionals working in the financial services industry in North America, Latin America, Europe and the Asia/Pacific region, the survey highlights:

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