The 2023 Trustwave Financial Services Sector Threat Landscape highlights how financial organizations remain prime targets due to the lure of monetary gain, sensitive customer data, and regulatory complexity. Data breaches in this sector cost an average of $5.9 million, well above other industries. Major threats include phishing, business email compromise, ransomware from groups like Clop, LockBit, and BlackCat, and third-party supply chain attacks such as MOVEit. Infostealers, RATs, and advanced ransomware tactics dominate the malware landscape. The report stresses mitigations like phishing simulations, MFA, patch management, vendor risk assessments, continuous threat hunting, and dark web monitoring to counter evolving attack flows.

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