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Cyber Attacks on Financial Institutions are the Modern-Day Bank Robbery
The financial sector has long been a target of cyber thieves. But despite their robust security postures, they continue to be the focus of some of the most innovative attack campaigns. Cybercriminals are laser focused on crafting attacks that will yield the most amount of revenue for the least amount of work. So, organizations whose business revolves around money makes a lot of sense as a potential target, right? Banks, lenders, mortgage brokers, and other organizations are a constant target because of the lure of easy big money. According to the 2nd annual report, Modern Bank Heists: The Bank Robbery Shifts to Cyberspace, from security vendors Carbon Black and Optiv, cybercriminals are hitting financial institutions hard: 67% of organizations saw an increase in cyberattacks over the past 12 months. Attacks focused on destroying data rather than financial gain have increased 160% over 2018.
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