While ransomware continues to make the headlines, particularly in the wake of WannaCry, research has revealed that financial threats are 2.5 times more prevalent
Although crypto ransomware is becoming a common choice for cyber criminals, there is still a significant amount of malware targeting financial organisations and their customers, Symantec has warned.
In 2016, attacks saw several such institutions lose millions to cyber criminals and nation state-supported attackers such as the Lazarus group, Symantec research has revealed.
Attacks against financial institutions are on the rise, with the emergence of a handful of sophisticated cyber crime groups going after financial institutions themselves rather than customers last year.
Researchers found that 38% of all financial threat detections were against corporations rather than consumers. Even though such attacks are harder to carry out and take longer to prepare, they yield a much higher profit, the report said.
