6 ways the banking industry could improve on cybersecurity

The threat of a hack is among banks’ biggest fears.

Image source: Article

Image source: Article

And those threats are becoming more frequent, and more sophisticated, according to a report released Thursday by the U.S. Government Accountability Office. “Depository institutions are estimated to have incurred hundreds of millions of dollars in losses from breaches in the systems of their corporate customers that allowed criminals to illegally transfer funds from the customer’s bank accounts, and from frauds perpetrated against their automated teller machines.”

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