Whenever cybercriminals successfully target financial services (FinServ), we’re reminded all too well that money makes the world go round.
A fruitful attack can lock customers out of their bank accounts, expose sensitive data and fuel theft, fraud and a worrying distrust in financial institutions. The stakes are clearly high, and unfortunately attacks are still soaring. Between 2021 and 2024, the number of financial organizations worldwide reporting a ransomware attack doubled from 34% to 65%. Don’t think cyber insurance providers haven’t noticed. Premiums skyrocketed by an average of 30% in 2023, and businesses in high-risk sectors like FinServ saw premiums 50% higher than the market average.
Read more…
Source: Symantec
Sign up for our Newsletter
The latest news and insights delivered right to your inbox.
Related:
- Latest Spam Campaigns from TA505 Now Using New Malware Tools Gelup and FlowerPippi
July 4, 2019
Since our last research on TA505, we have observed new activity from the group that involves campaigns targeting different countries over the last few weeks. We found them targeting countries in the Middle East such as United Arab Emirates and Saudi Arabia, as well as other countries such as India, Japan, Argentina, the Philippines, and South Korea. This ...
- Making Intelligence Actionable: Cybersecurity Preparedness in the Credit Union Industry
July 3, 2019
As the threat landscape continues to evolve, organizations need to be increasingly proactive in their approach to cybersecurity. One industry that’s taken proactive measures toward cybersecurity preparedness is the credit union industry. Over the last couple of years, the National Credit Union Administration (NCUA) developed a tool called the Automated Cybersecurity Examination Tool (ACET) to help credit unions ...
- Phishing, ransomware are top cyberattacks on financial services firms
July 1, 2019
Phishing and ransomware attacks are the most reported types of cyberattacks on financial services firms, but in most cases the causes of outages were far more mundane. Financial services firms reported 819 cyber incidents to their watchdog, the Financial Conduct Authority (FCA), last year, a huge rise on the 69 incidents reported the year before. Retail banks were responsible ...
- New Dridex Variant Slips By Anti-Virus Detection
June 28, 2019
A never-before-seen Dridex variant has been spotted in phishing emails using anti-virus detection evasion tactics. Researchers have spotted a variant of the Dridex banking trojan with new obfuscation capabilities that help it skirt anti-virus detection. While Dridex has been around since 2011, researchers told Threatpost Friday that they recently spotted phishing emails distributing a never-before-seen variant of the ...
- Riltok mobile Trojan: A banker with global reach
June 25, 2019
Riltok is one of numerous families of mobile banking Trojans with standard (for such malware) functions and distribution methods. Originally intended to target the Russian audience, the banker was later adapted, with minimal modifications, for the European “market.” The bulk of its victims (more than 90%) reside in Russia, with France in second place (4%). ...
- Houdini malware targets victims with keylogger, online bank account theft tools
June 17, 2019
A new variant of the Houdini malware has been detected in campaigns against financial institutions and their customers. Last week, cybersecurity researchers from Cofense said in a blog post that the new strain of Houdini — also known as HWorm — was released by its author on June 2, 2019. Dubbed WSH Remote Access Tool (RAT), it took the ...