The rise of the pandemic has sparked a widespread risk of cyberattacks in the finance industry. Since March 2020, The Financial Industry Regulatory Authority (FINRA) has released nine cyberthreat notices, which is significantly high compared to previous years. While other industries like healthcare have been heavily targeted this past year, cyberattacks on financial services are the most lucrative for hackers. As employees began to work from home last year, cybercriminals launched various phishing schemes to gain information from employees. These phishing attacks appeared to be extremely believable and by just one employee clicking on a malicious link, a whole network could be exposed.

In order to avoid these phishing schemes, financial services can take some steps in order to secure their employees and networks. For example, companies should educate employees on the impact of phishing scams and train them on how to identify suspicious emails through drills. Finally, staying up to date on FINRA notices can protect a financial organization from hackers.

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