BotNet News

Cyberthreat News delivers the latest news from the world of data safety and technology protection, including updates on security trends, breaches, and emerging threats.

The Global Financial System: a Targeted Environment

The global financial system is increasingly relying on digital infrastructure, and the risk of attack is growing. As innovation, competition and the COVID-19 pandemic fuel the digital revolution, the world’s financial institutions are transforming rapidly — driving more and more business to go online.

In a time of transformation, cybersecurity is essential to maintain trust and enable growth.

Digital Financial Services: a Softer Target

One of the biggest risks to the global financial system is the growing number of cyberattacks on softer targets, such as mobile money networks and banking services. While the attacks may not result in catastrophic losses, they can derail progress toward digital financial inclusion and undermine confidence in critical services.

Maritime and Railway Sectors: A Threat to Operation

The global transportation sector faces significant threats from state-sponsored hackers, including ransomware, malware, and phishing attacks. These attacks often disrupt passenger services and ticketing systems.

Hacktivists are also on the rise, posing a threat to European airports and railways. These threats include malware, phishing and DDoS attacks directed towards railway companies.

Russia and the West: A High Probability of Cyberattacks

As Russian economic sanctions bite, President Biden warned Monday that “evolving intelligence” suggests Moscow is exploring options for potential cyberattacks against U.S. critical infrastructure, including the financial system, electric grid and water treatment plants.