Cyber Threats Are Evolving: Is Your Financial Services Firm Ready?

The financial services industry has long been a prime target for cybercriminals, and with the rise of AI-driven cyberattacks and increasingly sophisticated ransomware tactics, the risks have never been higher. In 2023, financial services organizations faced 25% of all reported ransomware attacks, highlighting the critical need for advanced cybersecurity solutions to protect sensitive financial data¹.

As cyber threats evolve, is your financial services firm prepared to stay ahead?

The Growing Cyber Threats in Financial Services

AI-Powered Phishing and Ransomware-as-a-Service (RaaS)

The financial services industry is facing a surge in AI-powered phishing attacks, where cybercriminals leverage AI to craft convincing, fraudulently personalized emails. These attacks are becoming increasingly difficult for employees to recognize and avoid. Additionally, Ransomware-as-a-Service (RaaS) has opened the door for less sophisticated attackers to purchase pre-configured ransomware, posing risks even to smaller financial institutions.

With such advanced threats on the rise, relying on outdated security measures can leave your business vulnerable.

How Active Secure 365 Protects Financial Services Firms

Active Secure 365 by BDO Digital provides a robust, all-encompassing cybersecurity solution tailored specifically to meet the evolving needs of financial services firms. Here’s how it helps:

• Continuous Threat Monitoring and Response: Active Secure 365 offers 24/7 threat monitoring, so you’re protected around the clock from new and emerging cyber threats.
• Enhanced Endpoint Security: The solution integrates Extended Detection and Response (XDR) to help secure endpoints such as workstations, mobile devices, and email platforms—areas highly susceptible to attacks.
• Proactive Security Validation: With Active Secure 365, security controls are continuously tested, assuring that any vulnerabilities caused by misconfigurations are caught and corrected before cybercriminals can exploit them.

The Cost of Falling Behind on Cybersecurity

Cybercriminals constantly evolve their tactics, and financial services firms, managing sensitive customer data, remain high-value targets. Insider threats—whether accidental or malicious—are another growing concern, making it essential for financial institutions to strengthen internal defenses.

With Active Secure 365, you can protect sensitive financial data, reduce the risk of breaches, and ensure regulatory compliance with frameworks such as the Gramm-Leach-Bliley Act (GLBA).

Additionally, a Microsoft Cloud Cost Control & Security Posture Health Check can help you reduce costs and improve cloud security by identifying underused resources and optimizing cloud investments.

The Importance of a Proactive Cybersecurity Strategy

As financial services organizations adopt AI and cloud technologies to drive innovation, they face increased exposure to cyber risks. A comprehensive cybersecurity solution like Active Secure 365 doesn’t just protect against current threats—it also future-proofs your business against emerging risks.

With Active Secure 365, financial services firms benefit from both real-time threat detection and long-term cost optimization, helping make sure their cybersecurity investment is both effective and affordable.

Get Started Today

Prepare your business for the future of cybersecurity by scheduling a Free Attack Simulation to see how well your systems stand up to real-world cyber threats.

References

¹ 25% of ransomware attacks targeting financial services: IBM Security X-Force Threat Intelligence Report, 2023