Phishing scams, malware attacks, and social engineering are becoming costly threats to businesses. The 2013 Ponemon Institute/Symantec Cost of Data Breach Study found that the U.S. has highest total cost per data breach at $5.4 million. However Reuters published that many U.S. firms keep quiet about cyber attacks. The problem is pervasive, and the biggest way to prevent an attack on your business is through training.
The name is ominous, but the threat of a cyber-attack is more real than ever before. This week, more than 50 banks plus the Department of Homeland Security, FBI, and SEC, will participate in the exercise Quantum Dawn 2. This is a simulation designed to show financial organizations how to respond in the event of hacking or cyber attacks. The Securities Industry and Financial Markets Association (SIFMA) is organizing the event to take place today, July 18.