Regulatory Compliance: Act Now
techradar.pro, Wednesday, August 27th, 2025
Regulatory frameworks like DORA can be an opportunity to strengthen integrity
Financial services firms are no strangers to cyberattacks, often facing some of the most expensive consequences. In 2024, the average cost of a data breach in the financial industry worldwide was $6.08 million, while the global average cost of a data breach across all studied industries was $4.88 million.
The growth of Ransomware-as-a-Service (RaaS) has amplified this threat. Today's attackers often operate within organized networks that leverage AI-driven technologies for target selection, breach execution, and extortion. This is a particular challenge for financial services, already a key target by cybercriminals thanks to the sector's lucrative assets and sensitive data.