The digitalization of financial services has established itself as an unavoidable reality, redefining processes, business models, and the relationship between institutions and consumers. However, this advancement has also brought new challenges: with greater interconnectivity and dependence on digital systems, the surface exposure to cyber threats has significantly increased, making cybersecurity a strategic priority.
The current scenario is marked by the accelerated growth of virtual attack attempts. According to data from Check Point Research, Brazil recorded 356 billion attack attempts in 2024 – a 95% increase in the third quarter compared to the same period the previous year. The weekly average of attacks per organization reached 2,766, the highest rate since the beginning of the historical series in 2021. Latin America also stood out negatively, with a 53% increase in threats.
In the financial sector, this environment becomes even more sensitive, as the increasing automation of credit, the use of APIs, and the integration of digital platforms expand vulnerability points. Threats such as account takeover, data leaks, and API exploitation are among the most recurrent and sophisticated threats faced by institutions.
This reality demands more than cutting-edge technology, requiring a complete redesign of security practices, involving everything from product design to organizational governance, as well as ongoing training of teams, process reviews, and the adoption of a security and data protection-focused culture.
Increase in threats and low maturity in the sector
Despite the complexity of attacks, many financial institutions still demonstrate low maturity in their cybersecurity practices. Protection often limits itself to the data of end customers, leaving internal and strategic data of the institution exposed. The absence of robust protocols throughout the entire cycle of digital solution development amplifies this operational vulnerability.
At the same time, ransomware remains one of the main threats. More than 1,200 incidents have been made public in 2024, with the majority concentrated in North America (57%), followed by Europe (24%), Asia-Pacific (13%), and Latin America (4%). Sectors such as manufacturing, healthcare, and retail remain among the most affected, but the financial sector also stands out due to the high potential impact of attacks.
Integration of security into development and business
The most effective response to current threats lies in integrating security in the early stages of projects. Incorporating cybersecurity into the development backlog (with specific reviews at each sprint) is an example of proactively mitigating risks. This preventive approach is crucial to reducing failures, avoiding losses, and preserving customer trust.
However, it is not enough to invest only in technology. Cybersecurity needs to be rooted in the organization's culture and people's behavior. In many cases, the most vulnerable link in the protection chain is not in the systems, but in the users. It is the people who practically ensure the integrity of data and the effectiveness of security policies. Without a strong culture of awareness and digital responsibility, even the best technological solutions become insufficient.
Even with regulatory advances, such as the General Data Protection Law (LGPD), there are still significant gaps in the practical application of the rules. Regulation, while necessary, must be accompanied by a cultural change that involves all levels of the organization and reinforces institutional resilience in the face of digital threats.
Paths to a more secure financial ecosystem
Strengthening the financial ecosystem requires coordinated actions among technology, governance, and training. Digital security has ceased to be an exclusively technical issue and has become one of the pillars of sustainability for institutions. The expectation for 2025 is that technologies such as blockchain will help anticipate and bring more security, reducing threats and enhancing protection mechanisms.
With the consolidation of good cybersecurity practices, it is expected that the financial sector will evolve to a new level of reliability and resilience, where digital advancement is accompanied by the necessary solidity in the pillars of information security.
The article Cybersecurity solidifies as a priority in the financial market was first seen on BeInCrypto Brazil.