Stop cybercriminals stealing your money!

The financial sector is a lucrative target for cybercriminals, and keeping safe is an ongoing challenge. A cyber-attack can take many forms, including:

• Financial data hacks. A data hack happens when criminals break into an organisation’s systems to steal information. Cybercriminals are getting away with billions of pounds worth of records each year. We have seen instances where financial losses only started to occur three to six months later. This is often because data stolen is used in batches over time.
• Financial phishing attacks. Phishing fraudsters contact you using emails, texts, and other forms of communication. They disguise themselves as someone you trust. Their goal is to trick you into giving them your personal information (e.g. usernames, passwords, credit card details, etc.) and steal from you. Unfortunately, in some cases, where someone has become a victim of a phishing scam, their bank is not responsible for their losses.
• Bank and credit card takeover fraud. A form of identity theft, account takeover fraud (ATO) happens when a criminal gains access to an individual’s account and steals from them.
• Push payment scams. Push payment happens when a cybercriminal deceives an individual into sending them money.
• Cryptocurrency fraud. Like traditional money, cryptocurrencies can be used to buy goods and services, and they can be traded for profit. So it is no surprise that the cryptocurrency market is being targeted by criminals. With the equivalent of millions of pounds being stolen from cryptocurrency holdings each year, this is a very lucrative market.
• Ransomware attack. A ransomware attack happens when criminals infect an organisation’s systems and prevent or limit access unless a ransom is paid. Ransom may also be requested to stop the criminals from releasing sensitive data into the public domain.