--- title: Cyber Security in Finance | Free Report | TSC description: Discover why financial services are the most targeted UK sector for cyber attacks, and how to strengthen defences. image: https://thesecuritycompany.com/hubfs/cyber-security-in-the-finance-industry-report.webp --- [Skip to content](https://thesecuritycompany.com/blog/cyber-security-finance-industry-report#main-content) [![TSC Logo large](https://thesecuritycompany.com/hs-fs/hubfs/TSC%20Logo%20large.png?width=95&height=78&name=TSC%20Logo%20large.png)](https://thesecuritycompany.com/) - [Human Risk Platform](https://thesecuritycompany.com/tscs-human-risk-management-platform) - [Products & Services](https://thesecuritycompany.com/productsandservices) - [Success Stories](https://thesecuritycompany.com/success-stories) - [Resources](https://thesecuritycompany.com/our-resources) - [Blog](https://thesecuritycompany.com/blog) [Book a demo](https://thesecuritycompany.com/contact-us) ![Search icon](https://5018647.fs1.hubspotusercontent-na1.net/hubfs/5018647/Design/Icons/Font%20Awesome/search.svg) [Book a demo](https://thesecuritycompany.com/contact-us) [All posts](https://thesecuritycompany.com/blog/all) July 22, 2026 # Cyber security in the UK financial industry - The threat landscape   The Security Company  ·  2 minute read ![London financial district skyline with modern office buildings, representing cyber security risks in the UK financial services industry.](https://thesecuritycompany.com/hs-fs/hubfs/cyber-security-in-the-finance-industry-report.webp?width=1920&height=1080&name=cyber-security-in-the-finance-industry-report.webp) Explore the cyber security threats facing UK financial services, from Open Banking and shadow APIs to ransomware, phishing, human error and third-party risk. ## Over a quarter of UK cyber attacks target financial services. Is your organisation ready? Financial gain has been the number one motive for cyber threat actors since 2015, so it is no surprise that criminals target the organisations that handle money. In 2022, more than a quarter of all UK cyber attacks were aimed at the financial services and insurance industry. When the Bank of England polled 65 senior executives, 74% rated a cyber attack as the greatest risk facing the sector, ahead of inflation and geopolitical instability. Open Banking reform has transformed the financial services threat landscape. The rise of third-party providers and open APIs has increased the attack surface, while shadow APIs, ransomware, Ransomware-as-a-Service, phishing, weak passwords, misconfigured web servers and unpatched devices continue to create risk. This report explains the cyber threats reshaping UK financial services and why employee awareness, secure behaviours and cyber security culture remain central to reducing human error and protecting sensitive financial data. **In this report, you'll discover:** Why financial gain has driven cybercrime against the sector since 2015 How Open Banking and PSD2 reform reshaped the financial threat landscape The hidden danger of shadow APIs and unmonitored API traffic Why over a quarter of UK cyber attacks now target financial services How ransomware and Ransomware-as-a-Service scale attacks on financial firms What senior executives see as the greatest risk facing the sector The role of third-party providers and open APIs in expanding the attack surface Why staff awareness is central to defending financial services organisations --- ### Reduce human error risk in financial services TSC helps financial services organisations strengthen security awareness and behaviour change with practical training focused on phishing, ransomware, password security, data protection, Open Banking risks, shadow APIs and the everyday human behaviours that attackers exploit. [View report](https://thesecuritycompany.com/hubfs/TSC-Cyber-security-in-the-UK-financial-industry.pdf) [Book eLearning demo](https://thesecuritycompany.com/contact-us) --- ## Financial services cyber security FAQ ### Why are financial services targeted by cybercriminals? Financial services organisations are targeted because they handle money, customer data, payment systems, personal information and sensitive financial records. Cybercriminals are financially motivated and use phishing, ransomware, credential theft and API exploitation to access valuable systems and data. ### What are the biggest cyber security risks in UK financial services? Key financial services cyber security risks include Open Banking exposure, shadow APIs, third-party provider risk, ransomware, Ransomware-as-a-Service, phishing, weak passwords, misconfigured systems, unpatched devices and accidental data disclosure. ### How can financial services organisations reduce cyber risk? Financial services organisations can reduce cyber risk by improving staff security awareness, securing APIs, monitoring third-party access, strengthening passwords and MFA, reducing phishing risk, patching devices, improving data handling and building a security culture that reduces human error. --- ## Related pages [Human Risk Platform](https://thesecuritycompany.com/tscs-human-risk-management-platform) [Products & Services](https://thesecuritycompany.com/productsandservices) ## Related posts [![Security awareness presentation showing breach statistics, representing CISO priorities, cyber risk reduction and security awareness training.](https://thesecuritycompany.com/hubfs/guide-to-first-90-days-as-CISO.webp)](https://thesecuritycompany.com/blog/90-days-as-a-new-ciso-ebook) [eBOOK](https://thesecuritycompany.com/blog/tag/ebook) ### [How to make an impact in your first 90 days as a new CISO](https://thesecuritycompany.com/blog/90-days-as-a-new-ciso-ebook) [![Profile of a person with digital data graphics overlaid, representing cyber security culture, behaviour change and organisational security awareness.](https://thesecuritycompany.com/hubfs/cyber-culture-guide-ebook.webp)](https://thesecuritycompany.com/blog/cyber-security-culture-blocks-ebook) [eBOOK](https://thesecuritycompany.com/blog/tag/ebook) ### [How to beat the cyber security culture blocks](https://thesecuritycompany.com/blog/cyber-security-culture-blocks-ebook) [![Smart home and connected device icons, representing Internet of Things security, IoT risks and connected workplace technology.](https://thesecuritycompany.com/hubfs/guide-IoT-ebook.webp)](https://thesecuritycompany.com/blog/guide-iot-security-ebook) [eBOOK](https://thesecuritycompany.com/blog/tag/ebook) ### [Your guide to the Internet of Things (IoT)](https://thesecuritycompany.com/blog/guide-iot-security-ebook) ![](https://thesecuritycompany.com/hs-fs/hubfs/bug.webp?width=80&height=80&name=bug.webp) ![](https://thesecuritycompany.com/hs-fs/hubfs/bug_white.webp?width=80&height=80&name=bug_white.webp) Go further with emerging threat intelligence, expert analysis and guidance [![TSC White Logo large](https://thesecuritycompany.com/hs-fs/hubfs/TSC%20White%20Logo%20large.webp?width=100&height=82&name=TSC%20White%20Logo%20large.webp "TSC White Logo large")](https://thesecuritycompany.com/) **©** The Security Company (International) Limited 2026 Office One, 1 Coldbath Square, London, EC1R 5HL, UK Company registration No: 03703393 VAT No: 385 8337 51 [linkedin-in icon](https://uk.linkedin.com/company/thesecurityco) [Home](https://thesecuritycompany.com) [Human Risk Platform](https://thesecuritycompany.com/tscs-human-risk-management-platform) **[Products & Services](https://thesecuritycompany.com/productsandservices)** [Contact us](https://thesecuritycompany.com/contact-us) [Privacy &](https://thesecuritycompany.com/tsc-policies)[Cookie Policies](https://thesecuritycompany.com/tsc-policies) [Terms & Conditions](https://thesecuritycompany.com/tsc-policies) **Resources** - 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