The financial sector has long been heavily targeted by cybercriminals. Over the years, the number of attacks that involved extortion, social engineering, and credential-stealing malware has surged rapidly. This means that financial institutions should strive to familiarize themselves with the threats and the agents behind them.

When it comes to cyberattacks, most business owners get hung up on the technical and logistical details, forgetting another important aspect: motive. Why are hackers attacking people and organizations? And whom are they targeting? By answering these questions, you’ll have a better understanding of which of your business’s resources need the most protection.

Picture yourself receiving a phone call from kidnappers saying that they have snatched your only child while demanding a ridiculous amount of money for their safety. Now imagine a similar scenario, but this attack is geared towards Microsoft Office 365 users, complete with a ransom note and an audio message informing victims that their files have already been encrypted.

Know thy enemy. When it comes to hackers, most business owners get hung up on the technical and mechanical details of a cyber attack forgetting another important aspect: motive. Why are they attacking people and organizations in the first place? And who are they targeting? By answering these questions you’ll have a better understanding of what resources need the most protection in your business.

The financial services industry has long been a heavily targeted sector by cyber criminals. The number of attacks that involved extortion, social-engineering and credential-stealing malware surged in 2015. This means that these institutions should strive to familiarize themselves with the threats and the agents behind them.