Insights into new technologies, their security implications and the organizational changes for success ahead
In this paper, we share key findings from the 2024 Thales Data Threat Report (DTR) focused on financial services organizations, examining the differences between financial services survey respondents and overall global responses across all industry verticals. Unsurprisingly, many of the financial services DTR survey results were similar to overall responses, but we do note some key differences.
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Companies that had a good handle on their compliance processes and passed all of their audits were less likely to suffer from a breach. We’ll start to see more compliance and security functions coming together. This would be a huge positive step to strengthen cyber defenses and build protection around the data itself.
Key Findings
Data Breach Trends and Threats
Data breach attacks remain common
39% experiencing a breach (10% lower than the general survey figure), but planning in the event of an attack is still poor.
Risks to Emerging Technologies
The generative AI boom is underway:
27% plan to integrate GenAI into products/services in the next 12 months.
Compliance and Sovereignty Concerns
Operational complexity remains a security concern
49% have five or more key management systems.
Increasing DevOps Challenges
Over half (61%) cited secrets management as a top DevOps challenge.
Identity Complexities and Compromise
18% of all external access to FinServ organizational IT resources comes from customers
Risks to Emerging Technologies
Prototyping post-quantum cryptography (PQC)
is the primary approach to address the future compromise of classical encryption techniques. “Harvest now, decrypt later” attacks (72%) are the leading interest.
Financial Services Edition
2024 Thales Data Threat Report
Read more about Navigating New Threats and Overcoming Old Challenges in this Industry
2024 Thales Data Threat Report
Read more about Navigating New Threats and Overcoming Old Challenges
