More than 60% of global financial institutions with at least $5 billion in assets have been hit by a variety of cyberattacks in the past year, according to a new poll Contrast Security. Incidents included attempts to destroy data held by institutions, usually to erase evidence following a counterincident response by the victim, and “watering hole” attacks in which cybercriminals hijack and set traps on a site. web or mobile application used by electronic finance customers. Sixty-four percent of institutions also reported an increase in attacks that exploit vulnerabilities in applications.
In terms of fraud trends, half of those surveyed said they had detected campaigns to steal non-public information. Almost as many reported an increase in wire fraud. Forty percent had been targeted by ransomware. At the same time, more than half of those surveyed said they were more concerned about the cyber threat posed by Russia as geopolitical tensions rise.
