Financial institutions see spike in threats linked to COVID-19

Almost three-quarters (74 percent) of banks and insurers have experienced a rise in cybercrime since the pandemic began according to a new report. The findings released today by by BAE Systems Applied Intelligence, the cyber and intelligence arm of BAE Systems, as part of The COVID Crime Index 2021 analyze the changing nature and impact of fraud, risk and cyber threats on UK and US financial institutions and consumers over the last 12 months The research, based on a survey of over 900 organizations in the financial sector, also shows IT security, cybercrime, fraud or risk department budgets had been… [Continue Reading]