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TLDR:
IBM’s recent report highlights the finance and insurance industry as the second-most attacked sector in 2023, with a significant focus on the Middle East, Africa, and Latin America. Cybercriminals are increasingly exploiting user identities to compromise enterprises worldwide. Despite a slight decline in cyber attacks on finance and insurance, malware remains the most common threat, with ransomware being the most common type. Phishing and the use of valid accounts are the most common initial infection vectors. IBM X-Force’s Threat Intelligence Index for 2024 provides valuable insights into the cyber challenges facing financial institutions.
A new report from IBM highlights the challenges facing finance and insurance institutions as cyber attacks continue to target the industry globally. IBM X-Force conducted research that found finance and insurance to be the second-most attacked sector in 2023, with a particular focus on the Middle East, Africa, and Latin America.
The annual Threat Intelligence Index produced by IBM X-Force reveals an emerging global identity crisis, with cybercriminals increasingly exploiting user identities to compromise enterprises worldwide. Despite a slight decline in cyber attacks on finance and insurance, malware remains the most common threat, with ransomware being the most common type. Phishing and the use of valid accounts are the most common initial infection vectors.
