The global financial sector is under an unprecedented siege, as cyber incidents targeting banks and financial platforms more than doubled over the last year, surging from 864 cases in 2024 to 1,858 in 2025.
According to Check Point’s 2025 Financial Threat Landscape Report, which detailed a dramatic shift in the digital battlefield, moving from purely profit-driven crimes to highly organized, ideologically motivated disruptions and sophisticated “Cybercrime-as-a-Service” (CaaS) models.
The surge is defined by three aggressive trends that have strained the defensive capabilities of even the most mature institutions:
- DDoS Attacks (Up 105%): Distributed Denial of Service attacks became a geopolitical tool. Instead of stealing money, “hacktivists” aimed to deny citizens access to banking portals and payment interfaces. Israel, the United States, and the UAE were the primary targets, reflecting a strategic focus on nations that symbolize global financial influence.
- Data Breaches & Leaks (Up 73%): Stealthy intrusion campaigns exposed systemic weaknesses in cloud security and identity governance. While the U.S. remains the top target, India and Indonesia have emerged as hotspots due to their rapidly expanding digital transaction volumes.
- Ransomware (451 Cases): The Ransomware-as-a-Service (RaaS) ecosystem has matured. Groups like Qilin and Akira no longer just encrypt data; they now employ “multi-extortion” tactics, including public shaming and the direct harassment of senior executives to force payments.
While the heaviest volume of attacks hit the U.S. and emerging Asian markets, experts warn that Africa’s financial sector is at a critical crossroads.
Hendrik de Bruin, Head of Security Consulting for Africa at Check Point Software Technologies, noted that while African banks are often leaders in digital deployment, they are being outpaced by attackers.
“This report highlights that despite their maturity, financial institutions remain heavily impacted. Offensive security capabilities are evolving faster than organisations can deploy appropriate defences. We will continue to see an increase in both the sophistication and volume of attacks as more adversaries leverage Artificial Intelligence,” de Bruin stated.
The report concludes that traditional “on-demand” security is no longer sufficient. To survive 2026, financial institutions are being urged to adopt Continuous Threat Exposure Management (CTEM). This proactive approach focuses on identifying and prioritizing risks such as stolen credentials and misconfigured cloud buckets before they can be exploited.
As the industry enters this new era of risk, the message is clear: the future of financial stability rests on identity-first security and an “always-on” defensive posture.