Hackers go for the gold. This means that banking information makes for the number one target. These cyberattacks lead to the theft of large sums of money, undermine the economic stability of individuals and organizations, as well as destroy the reputation of banks and other financial institutions.
Unlike those who attend Hogwarts, magicians rely mainly on subtle sleight of hand to convince others that they managed to make coins disappear into thin air. The same concept applies to ransomware. How can it complete its mission in a suit labeled with the word “Villain”? Nowadays, ransomware fashions various disguises that render it undetectable.
Picture yourself receiving a phone call from kidnappers saying that they have snatched your only child while demanding a ridiculous amount of money for their safety. Now imagine a similar scenario, but this attack is geared towards Microsoft Office 365 users, complete with a ransom note and an audio message informing victims that their files have already been encrypted.
The time to increase cyber situational awareness and establish better security strategies has never been more opportune. Since 2015, the number of attacks on the financial services sector has increased and shows no signs of letting up. Whether it be extortion or credential-stealing malware, different tactics are utilized to target desired areas.