FS-ISAC Report Finds Global Cyber Threats Accelerate as Cybercriminals and Nation-State Actors Converge and Collaborate
PR94921
RESTON, Va., Mar. 11, 2022 /PRNewswire=KYODO JBN/--
-- Third-party risk, zero-day vulnerability exploits, and ransomware will
remain at the forefront of the cyber threats facing financial institutions
in 2022
FS-ISAC (
https://c212.net/c/link/?t=0&l=en&o=3467853-1&h=76173043&u=https%3A%2F%2Fwww.fsisac.com%2F&a=FS-ISAC
), the only global cyber intelligence sharing community solely focused
on financial services, today announced the findings of its annual Global
Intelligence Office report, Navigating Cyber 2022 (
). The report found that the rapid digitization of the financial services
sector has led to an increase in global cyber threats in 2021, specifically the
acceleration of high-profile cyber-attacks targeting third-party suppliers and
critical zero-day vulnerabilities. This led FS-ISAC to increase its Regional
Cyber Threat Levels an unprecedented three times in 2021.
Looking ahead to 2022, FS-ISAC expects the trifecta of third-party risk, the
growth in zero-day vulnerabilities as an attack vector, and the ability of
ransomware groups to adapt despite increased scrutiny by law enforcement to
complicate an already challenging cyber threat environment.
"As the threat landscape continues to evolve at a rapid pace, cross-border
intelligence sharing is critical to help defend financial institutions against
cyber threats," said Steven Silberstein, CEO of FS-ISAC. "As the global
fincyber utility, FS-ISAC enables industry-wide cross-border sharing to pool
resources, expertise, and capabilities to better manage cyber risks that the
global financial industry faces on a daily basis."
The report outlined top threats to the industry in 2022 and beyond, including:
-- Third-Party Attacks: Several high-profile third-party incidents have
impacted the security and availability of products and services used
by many financial firms, resulting in significant resources expended.
-- Zero-Day Vulnerability Exploits: In addition to rapid digitization,
zero-day exploits are growing due to the diversification of the kill
chain. Criminals increasingly specialize in different stages of
cybercrime, making it easy to simply buy (or sell) access to
vulnerabilities without needing to know how to find them.
-- Ransomware: Ransomware groups operating in safe-haven countries often
shut down temporarily to avoid international law enforcement, only to
open months later under new names with few repercussions.
Member financial firms reported high levels of phishing and business email
compromise, which is the entry point for most attacks, as well as the
persistence of notorious malware strains often used to drop ransomware.
"The macro-level cyber landscape translates into increased cyber threat
activity on a daily basis, as cybercriminals are endlessly inventive in how
they gain access and leverage to extort victims," said Teresa Walsh, Global
Head of Intelligence at FS-ISAC. "Phishing schemes continue to be one of the
most popular tactics threat actors use to access networks. In fact, twenty-four
percent of FS-ISAC member-reported incidents are phishing campaigns targeting
employees."
Methodology
The Navigating Cyber 2022 report is sourced from FS-ISAC's thousands of member
financial firms in more than 65 countries and further augmented by analysis by
the Global Intelligence Office. Multiple streams of intelligence were leveraged
for the curation of the round-up, which examined data from January 2021 to
January 2022. The publicly accessible version of the report can be found here (
). The full report is only available to member financial institutions.
About FS-ISAC
The Financial Services Information Sharing and Analysis Center (FS-ISAC) is the
only global cyber intelligence sharing community solely focused on financial
services. Serving financial institutions and in turn their customers, the
organization leverages its intelligence platform, resiliency resources, and a
trusted peer-to-peer network of experts to anticipate, mitigate, and respond to
cyber threats. Members represent over $35 trillion in assets under management
in more than 65 countries. To learn more, visit: fsisac.com (
).
Contacts for Media:
media@fsisac.com
SOURCE: FS-ISAC
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