137% Increase in Vendor Email Compromise Attacks Against Financial Services Industry Says Abnormal Security

Abnormal Security has released a new report revealing a significant spike in email compromise attacks against the financial services sector and how to defend financial services organizations against sophisticated email-based attacks. 

Abnormal Security’s findings reveal that Vendor Email Compromise (VEC) attacks against financial services increased by 137% in 2023. The new research also demonstrates that the financial services industry experienced a 71% increase in Business Email Compromise (BEC) attacks. 

According to Abnormal data, the financial services industry receives approximately 200 advanced attacks per 1,000 mailboxes weekly—making it one of the most attacked industries tracked. Peaks in attacks occurred in January, with 258 weekly, in September, with 282, and in mid-December, with 272.

You can read the report here.

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