External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The state of cybersecurity in financial services 2 hours ago Financial services are at the heart of our global economy and it’s safe to say cybercrime is a major risk for the banking system. Cybersecurity has become a vital investment for the financial sector. In 2019, Jamie Dimon, CEO of J.P. Morgan Chase & Co stated that, “Cyberattacks may very well be the biggest threat to the U.S. financial system.” This is probably why J.P. Morgan Chase spends nearly $600 million each year to strengthen its cyber defenses and in the face of “a constant stream of attacks.”