Cyberthreats to financial organizations in 2021

Cyberthreats to financial organizations in 2021

It is hard to believe that a year has gone since our last article on financial attacks and our predictions for 2020. It has been a tough one, but first things first. Let us review the forecasts we made at the end of 2019 and see how accurate we were. Then we will go through the key events of 2020 relating to financial attacks. Finally, we need to make a forecast of financial attacks in 2021. So let us begin.


Analysis of forecasts for 2020


Attacks against Libra and TON/Gram: There is no short answer here; it is complicated. After all, Libra is yet to be released, therefore the prospects of attacks are still uncertain, and there is no room for cyberattacks either. The Gram project has simply been canceled.
Reselling bank access: Yes. Unfortunately, this is true. There is a whole market with plenty of offers to provide remote access to various banks around the globe. Usually, attackers exploit one or more vulnerabilities and then resell access to financially motivated threat actors including targeted ransomware operators.
Ransomware attacks against banks: Yes. That is another sad reality these days. Various targeted ransomware groups have attacked banks all around the world, for example, in Costa Rica, Chile and Seychelles. These three cases have been covered by the media. The Maze group is responsible for the attack in Costa Rica, while REvil (Sodinokibi) is behind the attack in Chile. Victims who pay up do not show up on the list of breached organizations. Nobody can be certain how many more banks have been hit by targeted ransomware attacks.
The return of custom tooling: Yes. As we predicted last year, some cybercriminals would invest in new trojans and exploits ..

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