Page 127 - Cyber Defense eMagazine January 2023

The Biggest Cyber Threats For The Financial Industry In

2023

Ben Herzberg, Chief Scientist of Satori

According to external market data, the
financial sector was the most attacked in 2022
by DDoS attacks, while the number of all
attacks has been constantly growing. A data
breach in the financial services industry
typically costs around $5.85 million, and ten
percent of all attacks are financial breaches.

Certain financial institutions still need help to
keep up with the cloud migration, and the
growing number of cyber laws is not helping
with these problems. On the other hand,
phishing attacks continue to dominate the
financial services industry, and companies are
struggling to deal with new attacks focusing on
social media.

Cyber Defense eMagazine – January 2023 Edition 127
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