Financial services businesses see spike in vendor email compromise

A new report from Abnormal Security shows that vendor email compromise (VEC) attacks against financial services organizations increased by 137 percent in 2023. This is an industry that handles a wide array of sensitive personal and financial information of the type hackers love to get their hands on. This makes organizations within the financial services sector particularly susceptible to cyberattacks, including socially-engineered email attacks. According to the findings, the financial services industry receives approximately 200 advanced attacks per 1,000 mailboxes weekly, making it one of the most attacked industries tracked. Peaks in attacks occurred in January, with 258 weekly, in… [Continue Reading]