July 14, 2021

The Financial Stability Board (FSB) said in a recent report that working from home has led to an escalation of cybercrime.

Activities such as phishing, malware and ransomware attacks increased from less than 5,000 per week in February 2020 to more than 200,000 per week at the end of April 2021.

The FSB is responsible for coordinating financial rules for the G20 group of nations.

As offices begin to open up, security should remain a top priority.

The FSB said: “Financial institutions have generally been resilient but they may need to consider adjustments to cyber risk management processes, cyber incident reporting, response and recovery activities, as well as management of critical third-party service providers, for example cloud services.”

For more information, read the original story in Reuters.