Malicious Cyber-Actors in the Financial Services Industry

Observers around the world were shocked when news broke about a major bank heist in Bangladesh. This was no ordinary robbery though – this time, the thieves stole tens of millions of dollars by exploiting a flaw in the SWIFT network—an internationally recognized code for banks. The cyber-oriented nature of the theft highlighted the growing threat to the financial services industry from malicious cyber-actors.

As financial institutions have moved more of their products and services online, the criminals who prey upon them have also shifted into this new domain as well. All of the many and varied types of financial crime – theft, money laundering, embezzlement, and more – now have cyber-components.

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