The financial industry has been facing a surge in ransomware attacks over the past few years, said cybersecurity provider SOCRadar in a threat analysis post published on July 12, 2023. This trend started in the first half of 2021, when Trend Micro saw a staggering 1318% increase in ransomware attacks targeting banks and financial institutions compared to the same period in 2020.

Source: Infosecurity Magazine – Information Security & IT Security