Half of financial companies would rather mitigate than prevent

According to a survey conducted by Kaspersky Lab and B2B International, 48% of financial organizations said they take measures to protect their clients from online fraud, aiming at mitigating the consequences rather than preventing incidents entirely. Moreover, 29% of companies believe it is cheaper and more effective to address cases of fraud as they occur, rather than to attempt to prevent them.

According to the responses given by the surveyed bank representatives and payment service operators, whenever a cyber-fraud incident involving a client’s account occurs, only 41 % of organizations necessarily take measures to prevent such an incident from re-occurring in the future. 36 % of companies conduct an analysis of the vulnerability exploited in the attack, and 38% compensate the losses. The most popular policy among companies is to try to find out who was behind the attack: two thirds (66 %) of financial organizations do this.