Cybersecurity Trends in the Financial Sector

Cybersecurity Trends in the Financial Sector

A Kaspersky study highlights emerging risks, including quantum-safe ransomware and increased attacks on mobile devices.

Advancements in quantum computing, artificial intelligence (AI), and machine learning are expected to amplify cyber threats, particularly from ransomware and infostealers, according to Kaspersky’s latest report on the financial sector. While traditional malware attacks on computers may decline, the study predicts a significant rise in attacks targeting mobile devices in the coming year.

Kaspersky forecasts that ransomware techniques will undergo a transformation in 2025. Beyond merely encrypting data, attackers may start manipulating databases or injecting false information—a method known as “data poisoning.” Such tactics could undermine the credibility of a company’s entire dataset. Additionally, ransomware groups may leverage advancements in quantum computing to create “quantum-safe” ransomware that employs post-quantum cryptography. These advanced encryption techniques could make it virtually impossible for victims to decrypt their data without paying a ransom.

The study also warns of the rising accessibility of ransomware-as-a-service platforms. With ransomware packages available for as little as $40, even inexperienced attackers will have the tools to launch sophisticated cyberattacks, potentially leading to a surge in ransomware incidents.

Cybercriminals are also expected to intensify their exploitation of stolen data. Popular infostealers like Lumma, Vidar, and Redline will likely adapt to law enforcement pressures by deploying new techniques. Moreover, new malicious actors are expected to enter the scene, further weaponizing stolen information for various purposes.

Further Predictions

Central Banks and Open Banking Under Fire:  Attacks on central banks’ instant payment systems and open banking initiatives are anticipated to rise. These attacks could grant cybercriminals access to sensitive financial data, posing severe risks to the financial ecosystem.

Supply Chain Attacks on Open-Source Projects: The ‘XZ Backdoor Incident’ has highlighted vulnerabilities within the open-source community. In its aftermath, an increase in both newly discovered attack attempts and previously implemented backdoors is expected.

AI and Machine Learning in Cyber Defense: Artificial intelligence will play a growing role in cyber defense strategies. AI-driven tools will enhance anomaly detection, shorten analysis times with predictive capabilities, and automate reactive measures, strengthening the fight against emerging threats.

Emerging Blockchain-Based Threats: The rising demand for secure and private blockchain and peer-to-peer networks is likely to give birth to new blockchain protocols. Unfortunately, these could be exploited to spread malware or serve other malicious purposes, introducing new challenges to cybersecurity professionals.

 

 

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