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One of the top findings from the 2018 Thales Data Threat Report, FinancialServices Edition was that data breaches in U.S. financialservices organizations are increasing at an alarming rate. Each and every environment and instance requires a data security plan and implementation tuned to the environment.
FinancialServices Organizations Need to Adapt their Security Practices to the Shifting Environment. Companies and organizations, whether in the public or in the private sector, are re-establishing their business in the era of information and data revolution. Weak security practices lead to data breaches.
Data breaches caused by weak security measures and procedures result in severe monetary losses, erosion of clients’ trust, and irreversible reputation damage to organizations in the healthcare, financialservices, technology, and retail industries, as well as government and public sector entities.
The 57 percent rate statistic is the highest of all verticals we measured in this year’s report (others include the healthcare industry, the retail industry, and the financialservices industry) or any region surveyed.
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