Financial sector experiences high prevalence of cyber assaults as 40% of such attacks are directed towards this sector, according to the Myra Report.
In the digital age, the importance of cybersecurity cannot be overstated, especially for critical sectors such as finance. Myra Security, a German cybersecurity company, has released its Cybersecurity Report for the first half of 2025, shedding light on the current state of cybersecurity in the financial sector.
Myra Security provides a Security-as-a-Service platform, protecting digital infrastructures for federal authorities, companies, and organizations like the Munich Security Conference. Their report reveals a landscape marked by growing volumes and sophistication of AI-enabled attacks, increased costs of breaches, and evolving attack methods.
The financial sector is the primary target of cybercriminals, with 40% of all attacks. Surprisingly, the majority of malicious requests come from the USA, with 42% of all malicious traffic in the first half of the year originating from the United States. Germany follows closely with 19%, and China is third with 12%.
One of the key trends highlighted in the report is the rise of AI-powered cyberattacks. Financial services organizations report a significant increase in AI-driven attacks, including AI-enabled phishing, deepfake, and malware attacks. Deepfake attacks are particularly concerning, with 55% of financial services firms reporting such incidents, compared to 43% across other sectors.
Data breaches and ransomware remain critical issues, with the average cost of a data breach in financial services ranging from approximately $5.9 million to over $9 million. Attacks targeting APIs and web applications in financial services have increased by 65%, and malicious bot requests surged by up to 69%.
To address these challenges, Myra Security emphasizes the need for advanced, adaptive defenses like zero-trust models and proactive governance. The company ensures the availability of digital services by defending against DDoS attacks, botnets, and database attacks.
The call for digital sovereignty in Europe is growing, with 84.4% of IT decision-makers demanding the exclusive or preferential use of European software solutions for critical infrastructures. However, the practical implementation of this demand falls short of expectations, as less than 25% of companies use European cloud services.
For more insights into the status of digital sovereignty in Germany, see the new Myra study "State of Digital Sovereignty 2025". To access the full Cybersecurity Report H1 2025, visit https://www.myrasecurity.com/en/downloads/whitepaper-co/cybersecurity-report-h1-2025/. Myra Security can also be found online at www.myrasecurity.com or on LinkedIn.
It's important to note that the information on countries of origin does not allow for reliable conclusions about the actual location or identity of the attackers. Techniques such as IP spoofing, reflection attacks, and the use of globally distributed botnets can hide the true origin of the actors.
In conclusion, the Myra Security's Cybersecurity Report H1 2025 underscores the urgency for financial institutions to strengthen their cybersecurity measures in the face of increasingly sophisticated and costly attacks.
Financial institutions should prioritize advanced, adaptive defenses such as zero-trust models and proactive governance, as revealed by Myra Security's Cybersecurity Report H1 2025, to combat the rising trend of AI-powered cyberattacks and protect themselves from costly data breaches and ransomware attacks. Despite the growing call for digital sovereignty in Europe, the practical implementation of this demand falls short, with fewer than 25% of companies using European cloud services.
