The 2024 Trustwave Financial Services Risk Radar Report shows the sector remains a prime target due to valuable data and money flows, with breaches averaging $6.08M. Key risks include phishing, ransomware, insider threats, and emerging technologies like cryptocurrency and deepfakes. Nearly half of initial access comes from phishing, 73% of credential thefts involve brute force, and AlphV and LockBit dominate ransomware attacks, with 65% hitting US firms. Insider threats, both negligent and malicious, remain the costliest breaches. Regulatory pressures such as DORA add complexity, while franchise models create uneven security. Proactive defenses, monitoring, audits, and training are critical to resilience.

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