Financial information can be abused in lots of different ways. Hackers can use this to perform different heinous activities like performing fake transactions and even identity theft. Besides that, with the rise of new ransomware attacks it has now become possible for cyber villains to create software that can lockdown an entire bank and effectively cripple it. In some cases they do not only steal your information but they destroy it as well, including all backups of it. In the U.S. laws already exist to implement security measures to prevent this and the European Union plans to create a new law called the GDPR (General Data Protection Regulation), which will force financial institutions to keep your data safe and out of the hands of hackers.