Due to the close integration of digital technology and confidential information such as personal data, account transactions, payment account details, and login credentials, the banking, financial services, and insurance (BFSI) industry is particularly vulnerable to cyber-attacks. As a result, there is a higher likelihood of BFSI sectors being targeted by cybercriminals.
Why the absence of security awareness training is a threat to the BFSI industry?
The BFSI industry deals with highly sensitive information, such as financial data, personal information, and confidential records, which makes it a prime target for cybercriminals. With the ever-evolving tactics of cyber attackers, the BFSI industry needs to provide comprehensive cyber security awareness training to its workforce. Employees and other industry personnel must be aware of the latest threats and best practices to prevent cyber attacks. The BFSI industry can reduce the likelihood of data breaches, financial losses, and reputational damage by equipping employees with the necessary skills and knowledge to identify and mitigate cyber risks.