Platform
Banking - Insurance - Finance
Bank & finance risk management software
Protect the data and reputation of your financial infrastructures against cyber attacks
This sector is regularly targeted by hackers because of its high earnings potential and particularly sensitive stored data, including bank identifiers and personal data.
Did you know?
70 %
of financial institutions have increased their cybersecurity budget for 2023
+238%
increase in bank fraud by 2020 according to VMware Carbon Black
18,3 millions $
average cost of a cyber attack in the financial sector
Patrowl.io's advantages for banking & finance companies
Regulatory compliance (1-click report): the RGPD, NIS2 directive and other financial standards.
Protection of sensitive data: banking and personal data.
Critical infrastructure security: banking and transaction management platforms.
Continuous monitoring: real-time alerts and continuous scanning.
Risks
Some examples of cyber attacks in the financial sector.
Equifax data breach (2017):
One of the world's largest data breaches affected Equifax, where 147 million people had their personal information (social security numbers, financial data) stolen by hackers. The attack cost the company around $1.4 billion in damages and crisis management.
Cyberattack on the Central Bank of Bangladesh (2016):
Hackers infiltrated the SWIFT transfer system of the Central Bank of Bangladesh and attempted to steal $1 billion. Although the majority was recovered, $81 million went missing, revealing serious gaps in banking security.
Data breach at Capital One (2019)
A flaw in Capital One's cloud system allowed a hacker to steal the personal data of 106 million customers, including banking information and credit card numbers. The attack cost the company $190 million in fines and settlements.
Cyberattack on Travelex (2020):
Travelex, a foreign exchange company, was crippled by a ransomware attack, taking its systems offline for weeks. It had to pay $2.3 million in ransom, and the attack contributed to its bankruptcy.
Cyberattack on CNA Financial (2021):
CNA Financial, a major insurance company, fell victim to the Phoenix ransomware, which blocked its systems for several days. To restore access to its data, the company reportedly paid a ransom of $40 million, demonstrating the vulnerability of systems in the insurance sector.
To find out more :
Why are financial institutions targeted by cyber attacks?
In addition to ransomware and brand damage, financial systems are undergoing a major digital evolution:
Fintech
Blockchain
Artificial intelligence
Open banking
Mobile banking
What vulnerabilities are exposed?
Phishing and social engineering attacks
Malware
DDoS attacks
Payment system vulnerabilities
Identity theft and theft
Mobile device vulnerabilities
