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COVID-19 Rattles Banks and Insurers as Security Budgets Are Slashed
Financial institutions in the US and UK cut security budgets by a quarter last year and saw cybercrime and fraud activity rise by about the same amount during the pandemic, according to new research from BAE Systems Applied Intelligence. The British cybersecurity and risk management firm engaged Atomik Research to poll nearly 1000 banks and insurers and 2000 consumers in the US and UK back in March, in order to better understand the impact of…
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