Financial institutions will be affected by data breaches in other industries this year, a new study has indicated.
Some 38 per cent of respondents in research from software company FICO claimed that large retailers were at the biggest risk for a data breach in 2016, whereas 35 per cent believed telecommunications companies would be in the most danger.
As well as this, small businesses (25 per cent) and healthcare (22 per cent) were chosen as the industries least likely to be in danger, whereas hospitality, travel and insurance were viewed as medium data breach risks for the coming year.
The significant growth of mobile consumers in the Asia-Pacific region is also expected to be a primary threat as the number of vulnerabilities on the platform increases. Some 72 per cent of respondents believed there would be a major increase in threats from mobile commerce and mobile-first consumers in 2015, whereas 22 per cent anticipate a modest increase.
Raed Taji, head of global fraud consulting for FICO in Asia Pacific, said: "Rapid internet and mobile penetration have seen many industries grow their online capabilities to include payments, online applications and account management services, yet many organisations only have basic security in place.
"These businesses are soft targets compared to the banks because they lack the resources or historical security focus needed to protect critical systems and customer data."
With mobile technology becoming increasingly important in the market, it is vital that businesses spend more resources on protecting their information from cyber criminals, or they could suffer reputational damage and financial penalties.
Many large companies have faced cyber attacks in recent years, including Sony, which saw several films leaked in 2014 after an attack from hackers.