Today in Banking

This year alone, organizations have seen more cyberattacks than ever before. In fact, large-scale data breaches increased by 273%. Organizations can expect these numbers to continue rising, as we saw during the COVID-19 pandemic. In a July CNBC article, Al Pascual, chief operating officer of Breach Clarity, a fraud prevention and detection technology firm, said that criminals knew the day and time deposits would be made and subsequently overwhelmed financial institutions with account takeover accounts. In fact, account takeover attempts increased by 80%. Barracuda Networks reported earlier in the year that COVID-19-themed spear phishing emails skyrocketed 667% between March 1 and March 23.

Read the full article here.