Researchers warn of APTs, data leaks as serious threats against UK financial sector

Researchers say that geopolitical tension, ransomware, and cyberattacks using stolen credentials threaten the UK’s financial sector.

On Monday, KELA’s security team published a report examining the cybersecurity issues and attacks that surfaced in 2021 and early 2022, specifically focused on the United Kingdom’s banks and other financial services.

The UK was one of the first countries to stand with Ukraine after the invasion by Russia. This could make UK organizations a tempting target for threat actors siding with Russia — whether by state-sponsored advanced persistent threat (APT) groups or hacktivists. The National Cyber Security Centre (NCSC) previously warned businesses to shore up their cybersecurity following Russia’s assault.

APTs are often responsible for attacking the financial sector: account credentials, card numbers, and the personally identifiable information (PII) of customers are useful not only in social engineering and identity theft, but also to make fraudulent purchases or for card cloning.

APTs target organizations worldwide and those located in the UK are no exception. Over the past few years, APTs including the Chinese APT40 and APT31 have utilized vulnerabilities including ProxyLogon to compromise UK businesses.

“In general, APTs may target the financial sector to commit

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