CyberNews Briefs

Financial industry spending millions to deal with breaches in 2019

82% of organizations suffered a DNS attack last year, and many companies were hit multiple times, with the average number of attacks per company falling just short of 9.5, a new report by EfficientIP shows. Because the average cost per attack exceed $1.3 million, companies can expect to lose over $13 million per year as the result of DNS attacks alone.

The most targeted sector was financial services, with 88% of companies suffering an attack last year. DNS-based phishing scams targeted almost half of financial services  firms. EfficientIP CEO David Williamson stated that because “financial services organizations have always been the gatekeepers of customers’ money, providing vital services people expect to be able to use all day and night,” their networks “are a predictable, prime target for DNS attacks.”

Read more: Financial industry spending millions to deal with breaches in 2019

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