TRENDING
FINANCIAL SERVICES REMAINS MOST ATTACKED APAC INDUSTRY
Thirty-six percent growth in Web application and API attacks against APAC financial institutions as they expand and accelerate digital innovation .
Akamai Technologies has released its latest State of the Internet report – The High Stakes of Innovation : Attack Trends in Financial Services .
The report highlighted that the financial services sector in APAC continues to be one of the most attacked industries in the world , experiencing a growth of web application and API attacks by 36 percent from Q2 2022 to Q2 2023 – amounting to over 3.7 billion attacks .
Financial institutions must focus on securing new digital offerings , continuously educating customers on cyber hygiene best practices and investing in frictionless security measures for users .
The report also found that Local File Inclusion ( LFI ) remains the top attack vector and that 92.3 % of attacks against APAC ’ s finance sector were targeted at banks , posing a huge threat to both financial institutions and their customers .
Financial services organizations in APAC were also found to be using more third-party scripts as they develop more channels and better customer experiences – with 40 % of the scripts being third party in nature .
These data points show that organizations , especially banks and consumer-centric institutions , are at severe risk as they expand their digital footprint to reach more customers and gain a competitive edge .
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