Report says financial firms may be ‘overconfident’ about cyber

Cyber thief

Financial firms may be overconfident in their abilities to fend off a cyber attack, according to a report released by consulting firm Accenture earlier this month.

In its annual Security Research Study, Accenture notes the number of successful security breaches decreased from 36% in 2017 to 15% in 2018.

Meanwhile, the proportion of banking executives who are “confident” or “extremely confident” in their firm’s ability to fend off an attack is 80% across all “technologies and capabilities”.

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