IS YOUR FINANCIAL INSTITUTION A TARGET FOR CYBERCRIMINALS?

According to the Cybersecurity Systems & Services Market report, the U.S. financial institution’s cybersecurity market is the largest and fastest growing in the private sector, predicted to grow to $68 billion by 2020.

Among financial services firms, banks lost $16.8 billion to cybercriminals in 2017. Attacks on SWIFT — the leading global network for money and security transfers — alone cost $1.8 billion year-to-date. Costs of cybercrime also include:  

  • Regulatory fines,
  • Litigation,
  • Additional cybersecurity following the breach,
  • Responding to negative media coverage,
  • Identity theft protection and credit monitoring services to customers affected by a breach, and
  • Lost business due to reputational damage.

In order to combat cybercrime and stem further significant losses, JPMorgan Chase & Co., Bank of America, Citigroup and Wells Fargo spend a collective $1.5 billion on cybersecurity annually.

Learn how Maxus33 CodeXIV technology can protect your financial institution from potential costly losses. CodeXIV provides secure, reliable and non-copyable authentication and data assurance for privacy protection at a whole new level. We protect data at its roots and prevent unlicensed users from ever accessing it in the first place. They will never know what they are missing.

 

READY TO LEARN MORE ABOUT HOW WE CAN SERVE YOU AND YOUR CYBER SECURITY DATA PROTECTION NEEDS?