In July 2020, Kroll observed a 22% increase in attacks targeting the financial services sector based on its incident response case intakes. Business email compromise (BEC), fraud and ransomware were the top three threats impacting the industry, and Kroll has seen the number of incidents steadily rise amidst the COVID-19 crisis.
From a network topography perspective, this year’s shift from predominantly physical to remote access brought unexpected operational challenges. Businesses, including financial institutions, had to quickly educate workers on secure home internet connections as well as ramp up stable virtual private network (VPN) access and collaboration tools, while IT teams were also tasked with monitoring a multitude of diverse endpoints.
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