Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

8/20/2019
10:55 AM
50%
50%

Cyberthreats Against Financial Services Up 56%

Financial institutions interacting with customers online must prepare for a broader, more sophisticated variety of threats.

Financial organizations increasingly turn to online portals, social media, and mobile apps to better engage with customers. However, the same digital platforms' low cost and low barrier to entry make it easier for cybercriminals to exploit them and target a larger pool of financial victims.

ZeroFOX's "Financial Services Digital Threat Report 2019," released today, reports a 56% year-over-year increase in digital threats targeting the financial space. Researchers scanned 2.9 billion pieces of content and found more than 8.9 million security events in a 12-month period. Brand abuse and manipulation was the most common threat, with more than 250,000 events. Ninety percent of these were name impersonations, often not easily detected due to disguising tactics.

Financial services firms are more prone to corporate social media account takeover, researchers found: Attempts occur nearly 30 times per year on average for each company. Each executive is hit with an average of four credential compromises per year, 2.3 of which stem from breached databases. Each financial services company has an average of 30 targeted execs.

Fraud made up 40% of all cyberattack activity against financial services firms, analysts report, and 75% of those scams occurred on mobile apps and social media. Of the 87,900 fraud scams detected, 37% were money-flipping schemes, 28% were customer giveaway scams, and 27% were scams related to cryptocurrency. Researchers also discovered 489 fake mobile apps.

Read more details and check out the full report here.

Check out The Edge, Dark Reading's new section for features, threat data, and in-depth perspectives. Today's top story: "5 Ways to Improve the Patching Process."

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
News
Inside the Ransomware Campaigns Targeting Exchange Servers
Kelly Sheridan, Staff Editor, Dark Reading,  4/2/2021
Commentary
Beyond MITRE ATT&CK: The Case for a New Cyber Kill Chain
Rik Turner, Principal Analyst, Infrastructure Solutions, Omdia,  3/30/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-15734
PUBLISHED: 2021-04-12
An Origin Validation Error vulnerability in Bitdefender Safepay allows an attacker to manipulate the browser's file upload capability into accessing other files in the same directory or sub-directories. This issue affects: Bitdefender Safepay versions prior to 25.0.7.29.
CVE-2020-7924
PUBLISHED: 2021-04-12
Usage of specific command line parameter in MongoDB Tools which was originally intended to just skip hostname checks, may result in MongoDB skipping all certificate validation. This may result in accepting invalid certificates.This issue affects: MongoDB Inc. MongoDB Database Tools 3.6 versions late...
CVE-2021-27486
PUBLISHED: 2021-04-12
The Fatek Automation WinProladder Versions 3.3 and prior are vulnerable to an integer underflow, which may cause an out-of-bounds write and allow an attacker to execute arbitrary code.
CVE-2021-3465
PUBLISHED: 2021-04-12
** REJECT ** DO NOT USE THIS CANDIDATE NUMBER. ConsultIDs: none. Reason: This candidate was withdrawn by its CNA. Further investigation showed that it was not a security issue. Notes: none.
CVE-2020-15942
PUBLISHED: 2021-04-12
An information disclosure vulnerability in Web Vulnerability Scan profile of Fortinet's FortiWeb version 6.2.x below 6.2.4 and version 6.3.x below 6.3.5 may allow a remote authenticated attacker to read the password used by the FortiWeb scanner to access the device defined in the scan profile.