This is how those affected by Targobank protect their account from the cyber attack

This is how those affected by Targobank protect their account from the cyber attack

According to a report by www.inside-digital.de, almost 6,000 Targobank customers were recently excluded from online banking after hacker attempts to gain access to their accounts were thwarted. The bank has ensured the security of its customer accounts, but this is just another example of the increasing threat of cyberattacks in the financial industry.

The hacker attacks on Targobank are not isolated, as other German banks, including Deutsche Bank, ING, Postbank and Comdirect, have similarly struggled with cyberattacks since July this year. With the increased number of cyberattacks in the banking sector, there is a need for financial institutions to take increased measures to secure their IT infrastructure to ensure the safety of their customers.

The impact on the market could be that customers may move away from banks with poorer security reputations and towards banks with a greater focus on cybersecurity. This could also impact the financial industry itself, requiring increased investment in cybersecurity and potentially increased regulation of cybersecurity standards for financial institutions. Protection against cyberattacks is becoming a key component of banks' reputation and trust in today's digital era.