Page 128 - Cyber Defense eMagazine January 2023

We can safely say that companies in this sector have many security concerns. If they don’t approach
these issues seriously, they can damage and even destroy their businesses. Here are some of the biggest
threats the financial industry should pay attention to.

What are the biggest cyber threats for the financial industry in 2023

When the financial system is disrupted, it affects the whole economy. We are seeing emerging trends
likely to take shape in 2023 and become serious challenges. Whether new or not, companies must battle
those threats and deal with them to remain operational.

Source: Pexels

1. Uncontrolled customer data

Companies use various technologies to gather and access large volumes of customer data. This data
often contains sensitive information like customer PII and PHI. Sadly, it’s often used irresponsibly, leaked,
and accessed by unauthorized third parties.

Cyber Defense eMagazine – January 2023 Edition 128
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