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Bank heists take on new twist with attackers hijacking digital infrastructure
- Tuesday | 20th April, 2021
The new goal of attackers is to hijack a financial institution’s digital infrastructure and leverage that infrastructure against a bank’s constituents. In the fourth annual Modern Bank Heists Report, we interviewed 126 CISOs, representing some of the world’s largest financial institutions, regarding their experiences with cybercrime campaigns. This stark reality can be attributed to the organized nature of cybercrime cartels and the dramatic increase in sophisticated cyberattacks. Cybercrime cartels understand the interdependencies of the sector and recognize that they can hijack the financial institution’s digital transformation to attack their customers. 38%* of financial institutions experienced an increase in island hopping, escalating a heist to a hostage situation.
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