Cyberattacks against the financial services industry are becoming increasingly sophisticated and frequent these days.

With large financial gains and information such as personally identifiable information available to even modest attackers, it's no wonder financial firms are increasingly targeted by cyber-thieves. According to Verizon's 2016 Data Breach Investigations Report, 89% of breaches last year were motivated by greed or espionage.

And the findings for financial services hold true. As confirmed in CyberEdge's 2016 Cyberthreat Defense Report, 45% of financial firms experienced up to five breaches in the past year.

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