Cyber threats to the Scandinavian financial sector

The financial sector is experiencing an increasing number of attacks, particularly ransomware and DDoS attacks, and it is alarming how few organisations have been able to prevent encryption of their data.

As a result of the war in Ukraine, for example, pro-Russian or Russian-backed hacking groups have launched DDoS attacks against many organisations in the financial industry deemed to be anti-Russia or pro-Ukraine.

The geopolitical landscape for Nordic countries currently presents increased levels of risk, as threat actors look to establish a foothold in nations bordering Ukraine and/or Russia, or use the infrastructure in those countries to conduct politically motivated attacks from "friendly" systems.

This report by Stephen Green, Threat Intelligence Lead, focuses on current strategic cyber threats to Scandinavia’s financial sector. Further operational and tactical information can be provided on request.