The financial sector is home to the most coveted category of sensitive data amongst cybercriminals - customer financial information. As such, cybercriminals are continuously pounding against the industry’s cyber defenses, often finding their way through. The good news is financial institutions could minimize their data breach risks with the right attack surface management product. To learn which key features to look for in an ideal ASM product optimized for the financial sector, read on.

The Fintech industry deals with financial and personal data of customers on a massive scale. From credit card transactions to identity verification details, companies collect and process huge amounts of sensitive data, making them an attractive target for cybercriminals. To ensure the highest standards of data protection and risk management, constant monitoring and analysis of security data is crucial.

Financial data is a desired target for cybercriminals. Hackers frequently attack financial institutions such as banks, loan services, investment and credit unions, and brokerage firms. Security incidents in the financial sector are extremely expensive (surpassed only by the healthcare industry), with the average total cost of a data breach reaching $4.35 million in 2022.

ChatGPT use is increasing exponentially in the enterprise, where users are submitting sensitive information to the chat bot, including proprietary source code, passwords and keys, intellectual property, and regulated data. In response, organizations have put controls in place to limit the use of ChatGPT. Financial services leads the pack, with nearly one in four organizations implementing controls around ChatGPT.

Using an external platform trusted by potential victims is proving to be a vital tool in the cybercriminal’s arsenal. New data shows the state of the threat and who’s at risk. The average business experienced around 81 social media attacks each month in Q1 of this year, according to new data from PhishLabs, increasing 12% over Q4, 2022 and 5% over Q1 of 2022.

12 of the most prominent banks gathered at Tel Aviv Stock Exchange (TASE) on May 31st, 2023, to participate in Project Eden, a highly-anticipated PoC of the first digital government bond issued by the Israeli Ministry of Finance. International and domestic banks – Barclays, BNP Paribas, Deutsche Bank, Goldman Sachs, J.P.

Cybersecurity is practice of protecting information technology (IT) infrastructure assets such as computers, networks, mobile devices, servers, hardware, software, and data (personal & financial) against attacks, breaches and unauthorised access. Due to bloom of technology, most of all businesses rely on IT services, making cybersecurity a critical part of IT infrastructure in any business.

Cybersecurity has risen to become a major concern for nearly every industry. With the constant stream of news about the escalating numbers of breaches, it is understandable that governments have taken a more active role by passing cybersecurity and privacy legislation. Some of the industries are not top of mind to many people. For example, few people are aware of all of the industries that make up the 16 sectors of critical infrastructure.