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Europe’s Banks at Risk for Security Breaches

Aarti Maharaj | March 4, 2015

In light of recent reports of poorly handled cyber-security breaches, many European companies, banks in particular, are looking for ways to assess and implement new strategies to thwart a potential cyber attack and restore public trust.

A recent European Commission cyber-security survey points out that in today’s digital landscape, banks remain the most vulnerable and these institutions need to invest more resources in cyber security protections. The EC’s annual Eurobarometer Cyber Security Survey reveals that roughly 85 percent of participants fear that their personal information can be easily compromised and believe that the risk of cyber crimes are increasing across the European Union. Sixty-three percent of respondents claim that online banking fraud remains a top concern.

Against this backdrop, when compared to other neighboring countries, Britain lags behind in cyber-security risk...

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