Security News > 2023 > February > C-suite execs expect cyberattacks targeting financial data to increase this year

The participants were asked about attacks targeting the financial and accounting data of their organizations.

Looking ahead, almost half of the executives polled expect both the volume and size of cyberattacks targeting this type of data to increase in the coming year.

Since financial and accounting data is such a lucrative and tempting target for cybercriminals, a close relationship between an organization's cybersecurity group and its financial group seems in order; however, just 20% of the respondents said that the two groups in their business are working together closely and consistently.

To help organizations with financial and account data better protect this information from compromise, Daniel Soo, a Deloitte risk and financial advisory principal in cyber and strategic risk, offers the following advice.

The key is to understand how the data supports business operations to determine what is and is not an acceptable use of the data.

"In fact, we've seen leading organizations also solicit end-user inputs on data security efforts to support organizational change management, while also leveraging security technology and processes to help automate, scale and secure data as efficiently and effectively as possible."

News URL

https://www.techrepublic.com/article/execs-expect-cyberattacks/