62% of observed finance domains involved in phishing attacks

Research from BforeAI shows that between January and June 2024, a staggering 62,074 registered domains with financial keywords were identified, with 38,737 (62%) linked to phishing attacks. This reveals the extent of the threat facing financial institutions.

The rise of phishing and spoofing attacks correlates with the accessibility of phishing kits and the evolving capabilities of deepfake technology, making it easier for malicious actors to impersonate legitimate financial entities.

Well-known financial entities are prime targets for attacks, as malicious actors often focus on high-profile brands. In contrast, smaller firms are generally harder to spoof due to their easier-to-identify security measures.

The ramifications of phishing and spoofing incidents can severely impact businesses, resulting in financial losses, increased strain on security measures, and a significant hit to brand reputation and customer trust.

Read at Securitymagazine