Financial services face escalating cyber threats, making them prime targets for attackers seeking valuable data. Ransomware impacted 74% of global financial institutions in 2021–2022, with the average breach costing $5.72 million. Sensitive details like credit card numbers can be sold for quick profit, attracting even inexperienced hackers. Increasingly, attackers exploit weaknesses in cloud security architectures, with research showing 65% of cloud attacks now target financial services. These challenges highlight the urgent need for robust security strategies to protect critical assets and maintain trust in a rapidly evolving threat landscape.

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