Financial institutions (FIs), such as banks and insurance providers, are reporting significantly increased threat levels from COVID-related cybercrime, according to a research by BAE Systems Applied Intelligence.

A huge jump in new pandemic-related threats, alongside a rise in challenges caused by enforced work from home guidance, is leaving open and insecure gaps in FIs’ networks. The findings analyze the changing nature and impact of fraud, risk and cyber threats on UK and US FIs and consumers over the last 12 months.

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