BDO Cyber Threat Insights Report - April 2020

With the rapid worldwide spread of the novel coronavirus (COVID-19) during the past few months, more people are working remotely or exercising ‘social distancing’ than before. As a result of an increase in online virtual interactions, cyber crimes conducted by nation-state cyber attack groups, organised criminal cyber attack groups and hacktivists have rapidly increased in both the number and the level of sophistication of socially engineered cyber attacks.

While financial services organisations tend to have more resources to combat cybercrime than other industries, cyber attack groups have considerable motivation to target these organisations due to the potential for high payouts. Ultimately, all financial services organisations are vulnerable to cyber-attacks, which could result in significant cyber fraud and/or significant data breaches.

In BDO’s latest threat report, we explore what these threats mean for the financial services industry, specifically:

• Prominent cyber threats and key cyber attacks on the global financial services industry
• Protecting the industry through threat-based cyber security.

Download the report to learn more.