Banks fearing more cyber attacks and their cost

Bank boards of directors are worried most about cyber security attacks. That’s the key finding in a survey by Bank Director magazine. More than 80 percent of respondents said that this risk is a top concern. Last year, the same question had a 51 percent response. Almost eight out of 10 banks increased cyber security budgets this year – and the average hike was in the 10 percent neighborhood, according to the 2015 Risk Practices Survey. With all the money being invested into just cyber risk…