Page 5 - Cybersecurity Career Guide, 4th Edition

Safeguarding Our Money
No need for masks, weapons, or demand notes. Bank robbers today can often get inside financial institutions undetected. In fact, big banks experience cyberattacks nearly every day, according to JPMor- gan Chase Bank. The bandits use sophisticated malware to get deep into the banks’ computer systems, allowing them access to private customer data to potentially take out loans in a customer’s name
or commit other kinds of identity theft. For example, in a 2022 heist at Flagstar Bank, which operates 150 branches across 28 states, the names and Social Security details of over 1.5 million customers were stolen. In response to the increase in cyberattacks — which bear an average cost of $5.72 million per data breach — financial institu- tions are dramatically increasing their security budgets. For example, Bank of America’s CEO Brian Moynihan said it is now spending over $1 billion yearly on cybersecurity. What’s more, 92 percent of ATMs are vulnerable to hacks, according to a report by Positive Technolo- gies. Cybersecurity for banks is definitely a growth industry.
ENTRY-LEVEL SALARY RANGE FOR THE CYBERSECURITY INDUSTRY:
$85,000 - $106,000
Protecting the Electrical Infrastructure
Having weathered countless cyberattacks, including the breaches that targeted SolarWinds and Microsoft Exchange software in early 2021, the country’s electrical infrastructure is increasingly at risk, says Energy Secretary Jennifer Granholm. “The U.S. faces a well-documented and increasing cyber threat from malicious actors seeking to disrupt the electricity Ameri- cans rely on to power our homes and businesses,” said the secretary in a statement announcing a 100-day initiative
to strengthen the cybersecurity of critical infrastructure. “It’s
up to both government and industry to prevent possible harms.”
ISTOCKPHOTO.COM (4) DATA SOURCE: CYBER SEEK CYBERSECURITY CAREER GUIDE 5