Community financial institutions play a crucial role in supporting local economies, providing personal and business banking solutions tailored to their communities. However, as these institutions increasingly adopt digital banking technologies, they’ve become prime targets for cybercriminals. A recent BNY report highlights cybersecurity as one of the biggest challenges financial institutions will face over the next five years. For 27% of respondents, cybersecurity ranked as the leading long-term concern. Although cyber threats can impact organizations of all sizes, smaller financial institutions—like community banks and credit unions—often face greater risks due to limited IT budgets and resources.

Let’s explore the top cybersecurity threats financial institutions are currently facing, highlighting real-world incidents and trends that illustrate the severity of these threats.

Click Here to Read the Rest

SOURCE All Covered