Moody’s finds cyber incident increase drives financial sector investments in boosting resilience

Banks around the world are consistently increasing their investments in cybersecurity defenses fueled largely by a rising number of cyber attacks on the financial sector, according to a recent report from Moody’s Ratings.

“Financial institutions are prime targets, as key institutions that safeguard client wealth, facilitate transactions through payment networks and manage vast amounts of personal information. Consequently, they are at the forefront of enhancing cyber strategies and investing in defenses, processes and talent,” Moody’s says in a March...