The financial sector is the backbone of the global economy, but its stability is under constant attack. Today’s cybercriminals are armed with AI-powered tools that make their attacks faster, smarter, and harder to detect—and when financial institutions are breached, the consequences ripple across global markets, erode customer trust, and put billions at risk.
Inside the Report
KnowBe4’s new report, Financial Sector Threats: The Shifting Landscape, takes a deep dive into how cyberattacks are evolving—and why the financial sector is increasingly in the crosshairs:
- Escalating Attack Volumes: Financial firms are attacked up to 300x more often than other industries. Ransomware alone spiked 900% in a matter of months during COVID-19 and has only grown more sophisticated.
- Credential Gold Rush: Stolen credit card numbers are losing value compared to valid corporate credentials. Attackers prefer to “live off the land,” blending into legitimate systems with minimal detection.
- AI Supercharged Threats: Tools like FraudGPT and deepfake generators are fueling more scalable, believable, and dangerous phishing and impersonation campaigns.
- The New Extortion Economy: From double to quadruple extortion, threat actors are monetizing stolen data in ways that go far beyond encryption.
- Third-Party Weak Links: Nearly every major bank has reported breaches tied to vendors or fourth-party suppliers—multiplying the points of entry attackers can exploit.
Why It Matters
No sector faces higher stakes. From ransomware to data destruction, to the underground sale of credentials, financial institutions are now on the front lines of a global cyber battlefield. And while advanced tools and monitoring help, one truth remains constant: nearly every attack begins with a human making a choice—clicking a link, downloading a file, or trusting the wrong request.
Managing human risk is no longer optional. Uncover the trends, tactics and strategies financial institutions need to know to stay ahead of today’s social engineering threats.
Download the Report
