Page 5 - Cybersecurity Career Guide for North Dakota

Safeguarding Our Money
No need for masks, weapons, or demand notes. Bank robbers today can often get inside financial institutions undetected. According to JPMorgan Chase Bank, big banks experience cyber attacks nearly every day. The bandits use sophisticated malware to get deep into the banks' computer systems, allowing them access to private customer data to try and take out loans in a customer's name or commit other kinds of identity theft. For example, a 2022 heist
at Flagstar Bank — 150 branches across 28 states — netted the bad guys the names and Social Security details of over 1.5 million customers. In response to the increase in cyber attacks — aver- aging $5.72 million per data breach — financial institutions are dramatically increasing their security budgets. For instance, Bank of America’s CEO Brian Moynihan said his company is now spend- ing over $1 billion a year on cybersecurity. According to a report by Positive Technologies, 92 percent of ATMs are vulnerable to hacks. Cybersecurity for banks is definitely a growth industry.
ENTRY-LEVEL SALARY RANGE FOR THE CYBERSECURITY INDUSTRY:
$89,000 – $98,000
SOURCE: CYBER SEEK
Protecting Our 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.”
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