Banking Threats

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accounting and law firm threat

Ransomware gangs target law and accountancy firms

In what is bad news for law and accounting firms, the professional and technical services sector has now overtaken the manufacturing sector as the prime target for ransomware attacks of Q3 2024. According to cybersecurity company Nuspire: “These firms handle highly sensitive client data, such as financial records, legal documents, and business strategies, making them prime targets for ransomware operators.” Nuspire predicts that, with ransom demands averaging around $2.5 million a hit for law firms, ransomware operators will continue to target this sector as long as the potential rewards outweigh the effort. The situation is particularly dire for smaller practices, which may lack the resources to protect against today’s increasingly ruthless and sophisticated cyber-attacks.

Cyber Intelligence exclusive with Andy Sheldon of Deduce

Banks swamped by fake account scams

In an exclusive interview with Cyber Intelligence, Andy Sheldon, North American VP of US-based ID fraud specialist Deduce reveals how banks are now struggling to combat armies of fake account holders currently being generated by artificial intelligence (AI).

physical bank security

Exclusive: Banks face a growing physical security threat

Banks, traditionally the main target for cybercriminal groups, are now being attacked not only by new online hacking techniques but also by a growing range of physical hacking tools and techniques. While financial institutions have high levels of cybersecurity and strong physical security, they currently face a growing threat from combined physical and digital assaults. “Physical security and cybersecurity convergence in the business environment. A favorite weapon in the hacker arsenal is the Flipper Zero, an inexpensive pocketable device that enables you to hack into nearby smartphones and IT systems,” says Tim Grieveson, Senior Vice President of Global Cyber Risk, BitSight.

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