There is no shortage of cyber-attacks against financial services businesses. New threats pop up every single day, and multiple times daily at that. What’s more, these highly regulated organizations must also contend with the ever-evolving set of government regulations the world over. In 2021 alone, we saw new U.S. regulations such as the Colorado Privacy Act (ColoPA), Virginia Consumer Data Protection Act (VCDPA), and California Privacy Rights Act (CPRA), to name a few. Similarly, many new regulations came online as well in other regions – European Union, China, South Africa, UAE, etc.
Cyber-attacks are becoming more and more sophisticated, and this trend is sure to continue.