Cybercrimes such as phishing and malware attacks are on the rise, and thus securing business communication channels, such as email and video collaboration, has never been more important. Are we at a tipping point, where email is eliminated as a business communication channel altogether? Until then, however, financial services organizations must provide employees with adequate training about how to identify such common attacks such as phishing, business email compromise schemes, and ransomware, to name a few, and thwart future attacks. When it comes to current employee training, many cybersecurity topics, such as malware and mobile device security, are not included. One of the biggest omissions is anti-phishing training. In this report, Javelin provides recommendations for how financial services firms can shore up their training in ways that effectively influence employees’ cybersecurity behaviors.

Key questions discussed in this report:

  • What are the gaps in cybersecurity training?
  • Why do financial services firms need to invest in better device security?
  • What alternative communications channels can organizations start implementing that will reduce the reliance on email as an external business communications channel?

The data in this report was primarily collected from a random sample of 507 cybersecurity professionals conducted in May 2021.