Finance Industry Remains Top Breached Sector

Posted by Anton Murray Consulting on . Posted in Insights


The Finance Industry for the fourth consecutive quarter is among the top three industry sectors by notifiable breaches. The Notifiable Data Breaches Quarterly report for the fourth quarter of last year, released last week revealed the finance industry at second place, sitting just behind health service. From October to November the finance sector including superannuation had 40 breaches, while healthcare had 54 and legal services 23.

Of the data breaches, 11 were due to human error, 28 were malicious or criminal attacks and just one was a system fault. The most common human fault was sending information to the wrong recipient while the most common malicious attack was a cyber incident comprising of phishing, stolen credentials, ransomware and hacking. Chief product officer of SailPoint, a software firm, Paul Trulove said he was not surprised to see the finance industry so high.

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