In recent years, there has been a significant uptick in the frequency and sophistication of attacks on the financial and banking industry. The following statistics illustrate the current breadth and depth of cyber attacks by various types of threat actors on financial entities: Financial insti...
This chapter focuses on attack strategies that can be (and have been) used against financial IT infrastructures. The first section presents an overview and a classification of the different kinds of frauds and attacks carried out against financial institutions and their IT infrastructures. We then ...
Investigation from CyberInt’s Research Lab has connected a single gang to a range of attacks against retailers and financial institutions around (...)
The risk of a bank failure from a major cyberattack is not far-fetched. Almost all financial institutions have experienced a cyberattack in one form or another, and the number of attacks is only increasing. Financial firms are 300 times more likely than other institutions to experience them, ...
We further surveyed financial institutions to better understand what cyber risks were top of mind. The biggest risks they reported that their organizations face include cyberattacks, AI, talent management, third-party and supply chain management, and data securit...
GENEVA, March 27 (Xinhua) -- Cyber attacks are now the most serious threat facing the Swiss financial system, the CEO of the country's Financial Market Supervisory Authority (FINMA) said Tuesday. "The risks connected with these attacks are growing with the pace of global digitalization," chief...
"The attacks hit financial institutions, banks, in order to stop electronic banking and force people to withdraw money from their accounts," he said. Since 2014, Ukraine has come under several major cyber attacks targeting the country's energy system, as well as economic, financial, defense, ...
As a result of these forces, Public Finance organizations are being targeted, disrupting revenue collection streams and revenue distribution capabilities while eroding citizens’ trust in their public service institutions. These cyberattacks are happening across the planet in Europe, Asia, Australia, Afric...
The financial services industry remains a prime target for cyber-crime. According to an article byThe Telegraph, in 2016, consumers of financial services lost an estimated £8bn due to cyber-attacks. Now, with the GDPR in full swing, financial institutions are under even more pressure to tig...
To protect themselves and the financial structure,banks and financial institutionsare having to increase their investment in cybersecurity. Many companies rely on traditional cyber security measures to prevent attacks, but it is not enough to evolve faster than the threats they face. New malware versi...