Financial Services Get F in Risk Assessment

Tenable Network Security released its annual 2017 Global Cybersecurity Assurance Report Card, which provides specific data on how the financial services sector is performing when it comes to risk assessment and security assurance. This year, Tenable’s report found that the  financial services sector fell from a B- to a C- in overall performance. Driving the sharp decline was the single-largest risk assessment drop of the year — finetch was down 20 points to a score of 59% (F).
Financial Services took the second-biggest hit of any industry with an overall score of 72% (C-), which was good enough to be tied with Manufacturing for second place, but down nine points from 2016 when Financial Services was tied for first place with Telecom. Driving the sharp decline was the single-largest Risk Assessment drop of the year — down 20 points to 59% (F). 2017 Grade: C- / 2016 Grade: B-

The industry’s score is lower this year most likely due to security breaches at US Bank, FDIC, and global ones such as the SWIFT attacks on Bangladesh Bank. When it comes to technology adoption, it’s clear that financial organizations do not feel comfortable with the security risks containers pose, but the move to them will continue to grow.

Breaches continue to be an industry issue and hackers will continue to get smarter.

Following is a breakdowon by country and industry sector:

2017 Overall Cybersecurity Assurance Report Cards by Country

1.     India: B (84 percent)

2.     United States: C+ (78 percent)

3.     Canada: C (75 percent)

4.     France: C (74 percent)

5.     Australia: C- (71 percent)

6.     United Kingdom: D (66 percent)

7.     Singapore: D (64 percent)

8.     Germany: D- (62 percent)

9.     Japan: F (48 percent)

2017 Overall Cybersecurity Assurance Report Cards by Industry

1.     Retail: C (76 percent)

2.     Financial Services: C- (72 percent)

3.     Manufacturing: C- (72 percent)

4.     Telecom & Technology: C- (70 percent)

5.     Health Care: D (65 percent)

6.     Education: D (64 percent)

7.     Government: D (63 percent)