Carbon Black : 160% increase in destructive attacks against financial institutions since 2018

Carbon Black published its second annual finance-focused report, “Modern Bank Heists: The Bank Robbery Shifts to Cyberspace.” The report surveyed CISOs at the world’s largest financial institutions and found that 67% have witnessed an increase in cyberattacks over the past 12 months.

The report also uncovered alarming cybersecurity trends and findings such as:
  • Over the past year, there was an increase in wire transfer fraud (47%) and home equity loan fraud (31%)
  • 79% of financial institutions said cybercriminals have become more sophisticated
  • Of the emerging Techniques, Tactics and Procedures (TTPs) used by cybercriminals over the past year, financial institutions are being hit with:
    • Destructive attacks (26%), with an intention of destroying data - this was a 160% increase over 2018
    • Island hopping (32%), through supply chain vendors and partners
    • Watering hole attacks (21%), where sites are hijacked and visitors’ are misled to malicious pages