Data breaches have become a common fact of life over the past few years with regular news reports about incidents at big retailers, banks and other well-known companies.
Most people only hear about the largest breaches; however, companies across all industries and sizes continue to face persistent threats to their data from hackers and malware.
There has been a sharp increase in hacking and malware attacks on financial institutions in the first six months of 2016, particularly those aimed at small banks and credit unions, according to a recent report from Beazley Breach Response (BBR) Services on data breaches in the first half of 2016. In 2015, hacking and malware attacks accounted for 27 percent of financial institution breaches handled by Beazley; in the first half of this year, that rose to 43 percent.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
