New data from Netskope reveals growing malware threat in the financial services industry

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New data from Netskope reveals growing malware threat in the financial services industry
New data from Netskope reveals growing malware threat in the financial services industry

63% of malware downloads come from cloud apps in the financial services sector, with OneDrive leading the pack due to its overall popularity in financial services.

September 25, 2023: Netskope Threat Labs has published its latest research report, shedding light on the cyber threats facing businesses in the financial services industry.

The purpose of this report series is to provide strategicactionable intelligence for CISOs and security teams on active threats against users in specific industry segments. This month’s report focuses on the increasing adoption of cloud apps in the financial services industry and the worrying abuse of these channels through malware and ransomware attacks.

Key findings from the report include:

·         Increased cloud app adoption: While the average user in the financial services sector interacts with 25 different apps per month, Microsoft OneDrive is the most popular app by a large margin, with 54% using it on any given day, 22% uploading data to, and 23% downloading data from, OneDrive daily.

·         Cloud app abuse: 63% of malware downloads come from cloud apps in the financial services sector, with OneDrive leading the pack due to its overall popularity in financial services. Only the telecommunications sector has a higher percentage of cloud malware downloads.

·         Trojan takeover: Attacks on financial services organisations primarily target users with Trojans to trick them into downloading other malware payloads. FormBook, Valyria, and Razy were among the top Trojans seen by the researchers, while other common malware families included the infostealers AgentTesla and Redline and the Hive ransomware.

The report is based on anonymized usage data collected by the Netskope Security Cloud platform from a subset of Netskope’s over 2,500 customers, including more than 30 of the Fortune 100. Customers are only included in the research with prior authorization.

Please see here for the full report.

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