Financial services sector is facing data risks from personal apps

Netskope's report highlights severe data security risks stemming from personal app usage within the financial sector, where 92% of employees regularly use such apps. Alarmingly, 13% upload sensitive personal data, leading to 74% of policy violations involving regulated information. Although 83% of organizations enforce controls against these uploads and 70% employ data loss prevention strategies, the risk persists. Moreover, the rise of generative AI—with 95% of firms using it, averaging 10 apps each—poses additional challenges, especially as 90% block specific generative AI tools. Social engineering remains a critical threat, with malware downloads being a common tactic.

Netskope's report underscores significant data security risks in the financial sector from personal app usage and generative AI, emphasizing the urgency of enhanced data protection measures.

Read at Securitymagazine