Financial Breach

The only truly effective way to avoid breaches of security is through investing in the expertise and infrastructure needed to keep your organization safe

Security Breaches Are

A significant Risk
A Cross All Industries

Security breaches are a significant risk across all industries, but cybercrime costs the financial services sector more than any other industry. The high cyber risk faced by the financial services industry is a big concern because while virtually all businesses store personal information from both employees and customers, the data collected and stored by financial service firms is often more sensitive.

At Digital Forge, our team of experts is well-versed in managed security solutions for the financial services industry that prevent the detriments a financial breach can cause, including:

Compliance and Damage Costs

Cyber-attacks and financial breaches have significant costs. These costs cover an array of components that deal with detection and escalation, post-breach response, and lost business cost. A part of these costs is associated with complying with state notification laws.

Claims for Damage

Sometimes in the event of a financial breach, a client or third party can bring direct claims to cover costs associated with the breach. A financial breach can also lead to individual or class action lawsuits for compensation for damages caused by data exposure.

Reputation Damage

While most industries thrive off of customer trust, the financial services industry is especially dependent on this trust for their services. Any indication of unprofessionalism or a lack of security can quickly lead to customers meeting their needs elsewhere and an immediate and long-lasting drop in revenue.

PreventingFinancial Breaches

The only truly effective way to avoid breaches of security is through investing in the expertise and infrastructure needed to keep your organization safe.

At Digital Forge, our cyber defense covers every step, from monitoring your networks and workloads to avoid a breach to implementing fast and effective response strategies that minimize impacts in the worst-case scenarios.

While working with an experienced cyber intelligence team is the most effective way to minimize your organization’s security risks, some best practices you can implement to enhance security solutions are:

● Create strong passwords for electronic files
● Encrypt data
● Install proper antivirus programs
● Train employees on how to avoid malware and phishing scams
● Maintain backups of all important data and documents
● Keep paper copies under lock and key
● Invest in cybersecurity insurance

Financial Breach