Cybercrime and online threats have been constantly getting smarter and more effective to a point where the cybersecurity industry are barely keeping up with the latest malware and threats. Because of this, more and more companies experience attacks which result in downtime and possible backlash from investors. The same can be said about fintech companies who are just starting their business. To avoid further cybersecurity issues, here are the top cybersecurity problems fintech companies face.
One of the biggest problems when it comes to cybersecurity is the lack of resources IT departments receive. These resources include manpower, equipment, and capabilities. IT departments should have dedicated people who can handle cyber threats and not just help out whenever a printer stops working or a computer freezes
One of the biggest problems when it comes to cybersecurity is the lack of resources IT departments receive. These resources include manpower, equipment, and capabilities. IT departments should have dedicated people who can handle cyber threats and not just help out whenever a printer stops working or a computer freezes
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User awareness is another common problem. People in fintech companies are priority people for cybercriminals as breaching their network can definitely reel in a big opportunity to blackmail them into paying huge sums or steal crucial data they can sell underground. Employees, regardless if they handle private data or not, should be made aware of any or possible cyber attacks and how cybercriminals operate.
Lastly, there are a lot of systems that are not updated due to the fact that updating computers take time and resources. If management chooses to delay updates, they are simply making themselves vulnerable to attacks that can easily be avoided.
Lastly, there are a lot of systems that are not updated due to the fact that updating computers take time and resources. If management chooses to delay updates, they are simply making themselves vulnerable to attacks that can easily be avoided.
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