Financial sector faces surge in cyber threats

New research shows institutions in the financial sector experience up to 300 times more cyberattacks than other sectors, with large banks reporting 45 percent of their employees susceptible to phishing attacks. The study from KnowBe4 reveals almost all (97 percent) of major US banks experienced third-party breaches in 2024, while targeted intrusions against financial institutions increased by 109 percent year-on-year. A worrying finding is that tests in large financial institutions found that nearly 45 percent of employees were likely to click on a malicious link or download an infected file, creating entry points for threat actors. Those actors are now… [Continue Reading]