Reuters logo
Data Dive: Keeping hackers out of the bank vault
October 12, 2016 / 7:05 PM / a year ago

Data Dive: Keeping hackers out of the bank vault

While political backrooms and Hollywood gossip fuel social media buzz around high-profile hacks, cyber security threats are more acute in one far more serious corner of society: the world’s financial system.

Members of the G7 on Tuesday announced a new effort to combat financial crime and intentions to move towards a more systematic sharing of information related to hacks - specifically details on new methods of attack and how vulnerabilities are exploited.


About 35 percent of all the so-called spear-phishing email in 2015 was directed at financial, insurance, and real estate firms – the most of any industry, according to a report by cybersecurity firm Symantec.

And in a report last month, Security Scorecard found 75 percent of the top 20 U.S. commercial banks (by revenue) are infected with malware.

Among other high-profile financial hacks, a massive breach of the SWIFT bank messaging system, which resulted in an $81 million theft of the Bangladesh Bank’s money from the New York Federal Reserve, increased awareness of how truly vulnerable the global financial system is to malicious actors. 

According to a CIGI-IPSOS survey of more than 24,000 internet users, 85 percent of those polled think their government should work closely with other governments and organizations to address cyber security threats.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below