Financial institutions reporting significantly increased threat levels from COVID-related cybercrime. 74 percent of banks and insurers have experienced a rise in cybercrime since the pandemic began. 42 percent of FIs reveal remote working model has made them less secure. A fifth of consumers have been targeted at least once in the past year. Financial losses and budget cuts are making it harder for FIs to protect customers and IT security teams feel further pressure from decreased budgets and team redundancies. The average cost of financial losses is $720,000 and rising.
Source: https://www.helpnetsecurity.com/2021/05/04/pandemic-related-threats/