“The financial services industry is a significant target of cyber security threats ...given the seriousness of the issue and the risk to all regulated entities, certain regulatory minimum standards are warranted.” - The New York Department of Financial Services, 23 NYCRR 500 The average financial services organization experiences 65% more cyber attacks than the average organization across all industries. It’s no surprise that the financial services industry wears a target on its back. After all, finance offers the most direct route to a highly sought after resource: money. And as phishing and other security attacks become more sophisticated, the number of attacks continues to rise. According to a recent report by IBM X Force, financial services saw a 29% increase in cyber attacks from 2015 to 2016, with 1,310 attacks in 2015 and 1,684 in 2016. But in March 2017, the New York Department of Financial Services (DFS) said enough.