The financial sector has been a prime target for cybercriminals due to the high-value data and assets it manages. Over the past 27 years, cyberattacks on banks and their customers have evolved in sophistication, scale, and impact. Below is a detailed examination of this evolution, categorized by key time periods. The evolution highlights the characteristic that this report will focus on, and that is proactivity vs reactivity. Banks have become adept at reacting to new threats, usually following experience with an attack or intelligence from communal discussion groups between banks. This reflects in internal approaches, which is largely based on … Continue reading Evolution and Nature of Cyber Attacks on Banks (1998–2025)