The first six months of 2018 saw triple the number of data breaches compared to the same period in 2016, according to research by Bitglass, a cloud access security broker.
Bitglass collected data from the Identity Theft Resource Center and the Privacy Rights Clearinghouse to produce its Financial Breach Report 2018. The report reveals insights about the 2018 financial breaches.
The report indicates the majority of breaches were due to hacking and malware. Research also found that the top three 2018 financial services breaches exposed more records than the sum of all breaches in Bitglass’s 2016 report. Noteworthy threats to financial firms in 2018 include cloud cryptojacking, ransomware-as-a-service platforms and modular banking trojans.