The financial services sector faces escalating cyber threats from increasingly sophisticated ransomware operations and extortion tactics. Despite high investment in security, organizations remain vulnerable due to rapid exploitation of zero-day vulnerabilities and weaknesses in supply chains. In 2023 alone, the sector was the fourth most targeted, with high-profile incidents involving Lockbit, Clop, and ALPHV. Threat actors frequently gain access via phishing, credential harvesting, and malware delivery through compromised websites or MSPs. With growing geopolitical tensions and AI-enhanced attacks, the sector must prioritize resilience and real-time threat monitoring.

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