Regardless of the industry you are in, customers put a large amount of trust in you every day. They expect you to protect their financial information. In the digital age, it takes more than having a safe to keep criminals away from your customers’ data.
How Cybercriminals Can Compromise Your Financial Data
Cybercriminals are always adapting to find weak spots in your security and exploit them. These include direct attacks that involve finding weak and missing encryption or misconfigured systems in your security. That being said, one of the most common tactics, phishing is delivered in a more subtle form. Phishing is where an attacker impersonates a legitimate institution that attempts to trick employees into giving away sensitive credentials like a username or password.
How Can AI Help Against Financial Data Threats
Cybercrime is a 24/7 threat and there are no limits to when these criminals may strike. This is why you need a watchdog that is always vigilant and never takes a break. Artificial Intelligence-focused security is always running and identifying weaknesses in a cybersecurity system. For example, AI-focused systems can identify potential phishing emails and once detected can remove them before even reaching the mailbox. AI can also predict potential threats to a firewall. Once identified the system can limit access until it determines they are legitimate.
AI-focused security can help supplement traditional cyber security systems and help safeguard financial data. If you are interested in learning a few more ways way it can help protect against financial data threats, take a look at the accompanying resource below.
Infographic created by DFIN