Financial Services Industry

Protect customer trust, ensure regulatory compliance, and secure critical financial operations.

Financial institutions face unprecedented cyber risk as the industry’s second-most-targeted sector. High-value sensitive data, strict regulatory requirements, and sophisticated threat actors combine to create vulnerabilities cybercriminals actively exploit.

300x
More likely to be targeted than other industries
65%
Of financial institutions experienced a ransomware attack in 2024
$4.2M
Average ransom demand against financial institutions
Top Financial Services Cyber Threats

Criminals are in it for the money, and that puts you in their crosshairs.

68% of phishing attacks are specifically focused on financial organizations. The rapid digital transformation of banking services, combined with complex regulatory frameworks, has made institutions prime targets for BEC, ransomware, and insider threats.

Business email compromise & wire fraud

Attackers impersonate executives, vendors, and customers to authorize fraudulent transfers.

Ransomware with double extortion

Average ransom demands reach $4.2M, often paired with threats to leak customer data if payment isn’t made.

Insider threats & privileged access abuse

Employees with legitimate access can bypass traditional controls — and now trigger personal executive liability under FTC Safeguards.

Getting Started

Four steps to an effective, compliant program.

Building effective financial services cybersecurity doesn’t require becoming a security expert. Start with proven strategies designed for institutions facing complex regulatory requirements and sophisticated threat actors.

01

Cyber Hygiene

Establish MFA and the fundamentals that quickly reduce your exposure.

02

Gap Analysis

Assess regulatory requirements against your existing security controls.

03

GRC Mapping

Use a governance, risk, and compliance solution to identify what’s actually in scope.

04

Close the Gaps

Prioritize remediation and adopt a cyber risk management framework built to last.

What’s at Stake

Non-compliance and successful breaches both carry a steep price.

$100K
Maximum fine per FTC Safeguards violation
38%
Customer churn rate following a breach
7.5%
Average stock price drop following a breach
Get in Touch

Take the first step.

Protect your institution with a complimentary Financial Services Security Assessment. We'll identify vulnerabilities specific to your operations and provide a customized roadmap that keeps you compliant.

Sources: Investopedia, IMF, Invenio IT, the PCI Security Standards Council, and the FTC industry research on financial services cyber risk, ransomware, and regulatory penalties.