Financial services cybersecurity: Why Zero Trust is critical

The report outlines escalating cyber risk to financial services—documenting high ransomware prevalence (roughly 65% of firms in 2024), large-scale supply-chain and third-party breaches (e.g., MOVEit affecting thousands and millions of records), prolific criminal actors such as RansomHub, and notable breaches including Insight Partners and Fidelity—then argues that Zero Trust architectures and specific controls (allowlisting, EDR/XDR, microsegmentation, continuous monitoring) are essential to reduce exposure, meet regulatory obligations, and protect reputation and valuation.