Subj : Finance sector facing huge amount of cyberattacks that could leav
To   : All
From : TechnologyDaily
Date : Thu Mar 14 2024 11:45:06

Finance sector facing huge amount of cyberattacks that could leave it on its 
knees

Date:
Thu, 14 Mar 2024 11:37:15 +0000

Description:
BlackBerry warns the finance sector is facing "death by a thousand cuts" as 
hackers deploy novel malware at increasing rates.

FULL STORY
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The financial sector is being attacked left and right, as hackers pluck their 
sensitive data away like a pack of hyenas, new research from BlackBerry has 
claimed. 

The company's Global Threat Intelligence Report says there were roughly a 
million attacks against firms in the global financial sector logged over just 
120 days last year. 

BlackBerry describes the current cybersecurity situation as death by a 
million cuts, in which hackers mostly use commodity malware . This, 
BlackBerry suggests, means that there are numerous threat actors, operating 
independently, but still targeting more or less the same organizations. Novel 
malware on the rise 

Cumulatively, attacks on critical infrastructure accounted for almost 
two-thirds (62%) of all industry-related attacks between September and 
December last year. Critical infrastructure includes the financial sector, 
but also government, healthcare, and communications. 

The number of new malware samples is constantly on the rise, the researchers 
further announced. For the analyzed quarter, the team spotted a 27% increase 
in novel malware, from 2.9 variants per minute between June and September, to 
3.7 between September and December. 

Were consistently seeing increased volumes of attack in highly lucrative 
industries using novel malware, said Ismael Valenzuela, Vice President of 
Threat 

Research and Intelligence at BlackBerry. Novel malware typically indicates 
specific motivations from threat actors towards particular attack targets 
with intent to evade defenses, which are often based on static signatures. 
Weve reached a pivotal point where traditional detection methods alone are 
not enough to combat this increasingly complex problem. AI is already being 
weaponized by malicious entities, so it must equally be the dominant tool for 
detection and defense. 

While the majority of attacks are focused on critical infrastructure 
organizations, that doesnt mean that commercial enterprises can relax. A 
third of all threats targeted retail, manufacturing, automotive, and 
professional services organizations, and more than half of those (53%) 
included information-stealing malware. More from TechRadar Pro Financial 
service industries suffer more cyberattacks than any other Here's a list of 
the best firewalls around today These are the best endpoint security tools 
right now



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Link to news story:
https://www.techradar.com/pro/security/finance-sector-facing-huge-amount-of-cy
berattacks-that-could-leave-it-on-its-knees


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