Financial Institutions Under Siege: Cyber-Attacks Escalate with Data Destruction and Insider Threats!
Over half of global financial institutions faced cyber-attacks last year, with data destroyed to cover tracks. The Modern Bank Heists Report 2025 from Contrast Security reveals this sneaky trend. While many institutions detect attacks, a whopping 46 impactful ones sneak past defenses monthly. Financial firms need to step up their cyber game!
Hot Take:
Looks like cybercriminals have taken a page out of the magician’s playbook: distract, destroy, and disappear! Financial institutions might need a magic wand to keep up with these digital Houdinis.
Key Points:
- 54% of global financial institutions experienced destructive cyber-attacks in the past year.
- Destructive malware is used by attackers to cover their tracks, not just to cause chaos.
- Cloud environments and APIs are the most common attack vectors.
- Zero-day threats are the top concern for app and API security.
- Financial institutions face increasing threats like customer account takeovers and “island hopping” attacks.
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