- Polish financial institutions are among the most vulnerable in the Central European region to hacker attacks. On average, there are 1,728 attacks per single organization per week.
- Over the last 20 years, the financial sector has lost 12 billion dollars due to over 20,000 incidents of cyberattacks.
- Financial institutions in the EU must prepare for an arms race with cybercriminals. The cyber war of banks with hackers is becoming a real threat, where the aim of the attacks is to cause frustration and uncertainty among customers and authorities.
The data from Check Point Threat Intelligence reveal that there are more attacks on Polish institutions than in the Czech Republic (1,211), Austria (993), or Hungary (780). The number of attacks also surpasses the global average (1,689).
On the eve of the International Banking Day 2024, which falls on 4th December, experts from Check Point Software appeal to banks to adopt advanced security strategies to counter evolving cyber threats, highlighting the crucial role of trust in the banking sector.
These cybernetic criminals often target the financial sector, trying to steal money or disrupt economic activity, especially due to the huge volumes of financial transactions and sensitive data that banks manage daily.
However, more and more often, the threat comes from “hacktivists” – criminals affiliated with Russia, attacking institutions of countries supporting Ukraine. Wojciech Głażewski, a representative of Check Point, stresses that the hackers’ intention is to cause political pressure and disrupt the functioning of key banks in the financial system.
In Poland, the financial sector is among the top three most threatened sectors of the economy. According to the report from Check Point Threat Intelligence, there are over 1,700 attacks on Polish financial institutions every week.
Despite the rising numbers of attacks, Sławomir Soszyński, Vice President of ING Bank Śląski, assures that hardly any of the attacks on the Polish banking sector are successful.
As technology advances, the potential threats are expected to rise. Such scenarios are becoming more probable as finance intertwines more and more with technology and hackers become increasingly sophisticated.
To prevent such incidents or even worse scenarios, the EU is introducing new regulations to compel financial companies to know their technology service providers better.
In response to rising threats, the EU is introducing the Digital Operational Resilience Act (DORA), starting January 2025, to better secure the financial sector. “DORA is not a miracle solution that will eliminate such failures, but it will ensure that our financial services are sufficiently resilient and prepared to avoid or minimize their effects,” says Billy Kelleher, a Member of the European Parliament.
Experts agree – the cyber war of banks and hackers is becoming a real threat, with the aim of causing frustration and uncertainty among customers and the authorities of selected countries. This increasing dependence on ICT infrastructure, providers and their supply chains emphasizes the need for security and resilience of ICT systems in supporting the financial sector.
Banks and the entire financial system, playing a vital role in the process of financial intermediation in the economy, are among the institutions most exposed to such attacks.
Source: https://managerplus.pl/polskie-banki-na-celowniku-cyberprzestepcow-najwiecej-atakow-w-europie-centralnej-54196
