Financial Services

Financial Services sector continues to attract most Cybercrime

As data breaches target all sectors of society, cyber-attacks on financial institutions continue to garner especially close scrutiny due to the potential damages suffered by both the institution itself as well as its customers.

While companies that populate this sector typically are advanced in their security and compliance postures compared to other verticals, they still face significant risks from a range of threat adversaries, including financially motivated hackers, state-sponsored intruders, hacktivists and malicious or unsuspecting insiders.  

A recent survey from PricewaterhouseCoopers found that cybercrime is the second largest cause of economic crime (after asset misappropriation) facing financial services companies. The study also learned that cybercrime was responsible for 39 percent of the economic crime incidents facing finance companies, more than double the percentage for other industries.



Last year (2015) when corporate hacks doubled, the finance sector was cybercrime’s biggest victim, with banks, investment funds and exchanges including bitcoin most likely to be targeted by cyber-attacks.




Financial data is very appealing to criminals as it can be quickly monetised especially in an array of regional underground criminal marketplaces. These venues offer platforms to sell stolen merchandise to customers that in some cases have been vetted. Given that cybercrime is projected to cost the global economy an astounding $445 billion, the ability to quickly acquire and turnover stolen data can maximise profits substantially.

Security & Infrastructure Monitoring as a Managed Service

Comtact offers a flexible security portfolio for financial services companies wishing to protect their infrastructure, networks, data and users against today’s advanced threats.  Benefit from:

  • Fight Fraud – cybercriminals are constantly shifting their tactics. Comtact’s data security safeguards sensitive information to mitigate cyber-attacks and fraud
  • Meet Compliance – our solutions are created with compliance in mind, and directly can map back to all of your requirements
  • Prevent Insider Threat – mitigate the risk of errant insiders or malicious employees walking out with sensitive data. Comtact can monitor networks and systems for signs of anomalies and ensure that sensitive data stays put

Given the prevalence of threats and that most IT departments within the UK are 8×5, represents a major problem in forming a real-time response.  This is where Comtact’s 24×7×365 Security Operation Centre (SOC) services can assist.  Comtact’s Full Spectrum Managed Security portfolio provides comprehensive security solutions that help our clients assess and proactively manage risk. Delivered from our UK SOC in Northampton that resides in our Tier 3 Data Centre for maximum security and resilience, our services are designed to function as a complete outsource of internal SOC functions that our clients may have, or to bolster response in particularly critical points of risk.  Through working with us our clients can strengthen their security posture, lower their total cost of ownership, reduce operational complexity and deliver measurable reduction in business risk.


Talk to one of our security specialists about managed cyber security today

Call us now on 03452 75 75 75