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2024 Thales Global Data ThreatReport: Trends in Financial Services madhav Tue, 10/15/2024 - 05:17 Financial services (FinServ) firms are key players in the global economy. To dive deeper into the report findings, download the Thales 2024 Data ThreatReport: FinServ Edition.
Around this time each year, Thales eSecurity releases our annual Data ThreatReport (DTR). Now in its sixth year, the report is squarely focused on digitaltransformation and what that means for organizations and their data security. Please visit our website to learn more about our 2019 Data ThreatReport.
As in previous years, digitaltransformation remained a key theme at the event as well as discussions around artificial intelligence (AI) and IoT technologies impacting the workforce. No matter which opinion you agree with, digitaltransformation and new technologies will impact the workforce.
With more and more organizations embracing digitaltransformation and accelerating their pace to digitize every piece of information, they become increasingly vulnerable to sophisticated cyber-attacks and data breaches. With the global spend on digitaltransformation slated to reach a whopping $2.3
Digitaltransformation is changing the face of the modern data-driven enterprise. The 2019 Thales Data ThreatReport-Global Edition found that 97% of organizations surveyed are implementing digitaltransformation with 37% reporting aggressive transformation.
The traditional focus on security has been on breach prevention and threat detection but these can only go so far. For organisations going through digitaltransformation there needs to be a layered approach to security – complimenting these traditional strategies with data protection.In contracts). contracts).
Encrypt "non-public" data both at rest and in motion or use effective alternative compensating controls for information at rest if approved by the CISO in writing. Additionally, the senior governing body must possess the expertise to oversee the company's cybersecurity program.
According to 2024 Thales Global Data ThreatReport: Financial Services , FinServ organizations face greater security challenges in securing cloud infrastructure and focus on locking down secrets in development operations. Visit our financial services page for information on managing secrets. What is secrets management?
However, in an attempt to be “better” many organizations have leaned heavily on emerging technologies such as cloud, blockchain and IoT – aka digitaltransformation. However, as digitaltransformation proves “better” for many aspects, it isn’t proving to be better for security.
Whether you prioritize cybersecurity or not, cybercriminals will always prioritize (their own) profit, as the attacks described in our 2021 ThreatReport prove. It’s worth noting that there are a few: •Cybersecurity breaches may originate from the vendor, putting the host company’s information at risk. DigitalTransformation.
In just the past few years (and hundreds of high-profile breaches and £Trillions of economic damage later), cyber threats became impossible for the boardroom to ignore. The digitaltransformation conundrum. If your business is undertaking any kind of digitaltransformation, have you thought about the sensitive data at risk?
This flux creates a prime opportunity for cybercriminals to target sensitive customer information, including credit card data, personal information, and intellectual property. According to a recent study , the average cost of a retail data breach in 2024 will reach $3.48 million, representing an 18% increase compared to 2023.
As one of our recent blogs discussed, we are entering a new era of business – one that will see wholesale digitaltransformation drive a digital-first approach by businesses globally. To find out more about Europe’s evolving data threats, download the 2019 Thales Data ThreatReport – Europe Edition today.
The State of Data Security in 2024 However, not only individuals must protect their digital assets; organizations do, too. A host of threats continue to put enterprise data at risk. Encrypting data at rest and in transit ensures that sensitive information remains secure even if stolen by cybercriminals.
Competition is one of many challenges retailers face and while that’s nothing new, the data-driven approach online and brick-and-mortar merchants use today is evolving quickly with transformative technology capabilities. According to the 2019 Thales Data ThreatReport – Retail Edition , nearly two thirds (62%) of U.S.
Digitaltransformation is changing the way we live and work, both in India and around the globe. DigitalTransformation is Well Underway. Banking, financial services, media, insurance, and e-commerce companies have the lead in transformational initiatives in India.
Gigabytes of sensitive data were exfiltrated, including customer payment card information (PCI), employee social security numbers (PII), and confidential financial documents. Its operations, reputation, and digital sovereignty had all been compromised. The activity appeared legitimate to monitoring systems. No alarms were triggered.
Now though, businesses everywhere are undergoing various forms of digitaltransformation as they look for ways to better interact with their end customers, whether consumer or corporate. This data is not necessarily secure, however, a fact that represents the single greatest threat to an organisation’s digitaltransformation efforts.
Healthcare’s IT evolution has brought numerous security challenges including regulations, the use of digitallytransformative technologies that have created huge amounts of data to store and protect, and the extraordinary value of electronic personal health information (ePHI) to cybercriminals. Which brings me to my next point.
As digitaltransformation takes hold, the retail industry is under siege from cyber criminals and nation states attempting to steal consumers’ personal information, credit card data and banking information. Lines are now blurred between physical and digital experiences. And criminals are moving online.
Competition and strong demand for digitallytransformative technologies thrusts IT and data security professionals into a race to meet the demands of today ? Insider threats are real. Take potential threats very seriously.
As the retail industry follows suit with today’s digitaltransformation, customer expectations are at an all-time high. Connected customers become walking databases of personal information with the potential of having their every move tracked by hackers. But do these connected experiences actually live up to the hype?
healthcare organizations are nearly universal in the adoption of digitaltransformation technologies (cloud, SaaS applications, big data, IoT, digital payments, containers, and blockchain). This year’s Thales Data ThreatReport-Healthcare Edition shows that cloud usage in the U.S. 12 at 2:00 p.m.
Unfortunately, this year, companies are essentially “taking it to the hoop” when it comes to digitaltransformation initiatives. Our 2019 Data ThreatReport-Global Edition , revealed that 97% of survey respondents reported their organization was already underway with some level of digitaltransformation.
At the start of the year, Thales released the findings of its latest annual global Data ThreatReport which found that, as businesses everywhere undergo a form of digitaltransformation, the risk of data breaches has reached an all-time high.
The information was made widely accessible, often available from almost any corner of the world, as companies’ embraced globalization. Initially the new digital way of life was good. Data Sources: Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2025 , Statistica. Things got done fast!
As seen in the recent Marriott breach, customers’ sensitive credit card information was encrypted, but their stored password numbers were not – posing a risk for potential identify theft. But the onus isn’t just on travelers. This should serve as a wake-up call. This is no longer a ‘nice to have’ – it’s business as usual.
Encrypt "non-public" data both at rest and in motion or use effective alternative compensating controls for information at rest if approved by the CISO in writing. Additionally, the senior governing body must possess the expertise to oversee the company's cybersecurity program.
AI offers a wealth of capabilities that can help to improve: Data protection : AI can be used to discover, classify and encrypt sensitive information, as well as monitor access to data stores and flag immediately if they have been breached. That’s just the tip of the iceberg.
When companies attempt digitaltransformations, the rush to implement new technology sometimes overshadows full consideration of risk. For example, in our annual Data ThreatReport we found that 97% of respondents are storing sensitive data in digitallytransformative environments, but only 30% are deploying encryption.
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. businesses are taking advantage of digital technologies like cloud, mobile, and IoT to digitallytransform their operations. Labelled Industry 4.0, Data security.
This year, we’ve written about what the future holds in terms digitaltransformations and new and exciting technologies. In our recently launched 2019 Thales Data ThreatReport- Global Edition , 60% of organizations say they have been breached at some point in their history, with 30% experiencing a breach within the past year alone.
The Verizon 2023 Data Breach Investigations Report reveals that system intrusion, phishing, and web app attacks are the predominant patterns that enable criminals to steal personal and financial information, including credit card data. In case of a lost phone, promptly informing these services can prevent unauthorized access.
Cloud Encryption: What Your Cloud Provider Covers -- and What’s Still on You madhav Wed, 07/02/2025 - 05:58 The Thales 2025 Data ThreatReport revealed that cloud assets such as SaaS applications, cloud-based storage, and cloud infrastructure management were the greatest targets for attack.
According to 2024 Thales Global Data ThreatReport: Financial Services , FinServ organizations face greater security challenges in securing cloud infrastructure and focus on locking down secrets in development operations. Visit our financial services page for information on managing secrets. What is secrets management?
Nearly half (47%) of the respondents of the 2023 Thales Data ThreatReportreported that cyberattacks are increasing in volume and severity. Meanwhile, organizations continue to invest in digitaltransformation by utilizing the efficiencies and elasticity offered by cloud service providers.
The digital skills gap comes at a cost. trillion cumulative GDP growth.The skills gap is slowing digitaltransformation and in cybersecurity it’s increasing risks. Digital leaders need to solve this issue fast and technology has a valuable part to play in this. Cass Business School has reported on this too.
The State of Data Security in 2024 However, not only individuals must protect their digital assets; organizations do, too. A host of threats continue to put enterprise data at risk. Encrypting data at rest and in transit ensures that sensitive information remains secure even if stolen by cybercriminals.
And, as we’ve all seen, the failure to manage digital risks can have a negative impact on the reputation, operations and market value of affected enterprises. The Threat Level Is Rising. Theft of information on markets and mergers and acquisitions. Securing Your DigitalTransformation. Ransomware.
To highlight the discrepancy between perspectives, Forbes has reported that 87% of business leaders believed that people highly trusted their company – but when asked, only 30% of people trusted these same companies.
This flux creates a prime opportunity for cybercriminals to target sensitive customer information. As if things were not difficult enough, data collection in more states and countries is becoming stricter, with increased consumer protection laws leaving retailers applying tighter data privacy to their digital platforms.
As organizations adopt new security tools such as CASB and container security, both of which generate valuable detection data, and as digitaltransformation introduces even more technology, security operations will only become more complex, exacerbating these issues. With these ongoing challenges, chaos will continue in SOC operations.
Recognize and Report Phishing According to the Thales 2024 Data ThreatReport , phishing is the second fastest-growing attack. With the average person having to keep track of roughly 100 distinct credentials, it’s no wonder that nearly one-third of the internet uses a password manager to wrangle (and “remember”) them all.
This flux creates a prime opportunity for cybercriminals to target sensitive customer information. As if things were not difficult enough, data collection in more states and countries is becoming stricter, with increased consumer protection laws leaving retailers applying tighter data privacy to their digital platforms.
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