For years, banks have viewed cybersecurity as a necessary but costly defensive measure, an expenditure required to prevent fraud, breaches and regulatory fines. However, the world has changed. Cyber threats are not only increasing in frequency and sophistication but they are destroying financial performance, customer trust and competitive advantage.
With cybercrime surpassing $9.5 trillion in 2024, according to a recent report from CrowdStrike, financial institutions and critical infrastructures face an unprecedented level of state-sponsored and criminal cyberattacks.
This exponentially increasing cyber threat landscape has serious consequences for banks.
In a world of machine-to-machine cyberattacks, organisations must embrace intelligence-led cybersecurity to outmanoeuvre adversaries
Ruth Wandhöfer
Cyberattacks on banks can lead to significant financial losses, whether that is through phishing, smishing, ransomware attacks, DDoS attacks, trojans or other malware.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
