65% Financial Firms Hit by Ransomware in 2024 Despite Heavy Security Spending

Financial organizations faced ransomware attacks at 65% rate in 2024, highest across all industries. Average recovery costs excluding ransom hit $2.73 million per incident. Phishing drove 90% initial access despite SIEM, EDR deployments. Picus Security Blue Report confirmed prevention gaps at 62-69% efficacy. Banks, insurers, fintech firms store payment data, credentials, transaction flows. Underground markets listed 14.5M stolen credit […] The post 65% Financial Firms Hit by Ransomware in 2024 Despite Heavy Security Spending appeared first on VPN Central.