Priya PatelContrast Security has released its Modern Bank Heists report, which highlights the increasing sophistication of cyberattacks on the financial sector. The report reveals the top attack vectors and cyber trends faced by financial institutions (FIs) and the evolving cybersecurity strategies they are using to fight back. Some key findings include:
– 74% of FIs detected campaigns to steal nonpublic market information.
– 77% experienced attacks against their application programming interfaces (APIs).
– 58% saw an increase in application attacks, with attacks such as Class Loader manipulation and untrusted deserialization becoming more common.
– 48% were victimized by destructive attacks launched punitively to destroy data.
– 45% believe they were victimized in stealthy attacks they weren’t able to detect.
The report warns FIs that security must be a top priority due to the evolving tactics employed by cybercrime cartels. Financial sector insiders have revealed specific trends in cyberattacks, e-fraud, and cyber defense. The report also provides guidance and specific defensive countermeasures to protect against cyberattacks and cyberespionage. To read the full report, visit the Contrast Security website.
