The Evolving Advanced Cyber Threat 
to Financial Markets

A report by SWIFT and BAE Systems

The cyber threat to the financial sector from Advanced Persistent Threat attack groups is evolving daily. Where will the next potential attack occur? And what can be done about it?
The Evolving Advanced Cyber Threat to Financial Markets
Following the publishing of the paper in 2017, 'The Evolving Cyber Threat to the Banking Community', this latest report considers the evolving threat to financial markets from APT groups, examining what they might attack, and why.

APT groups are well resourced teams who will patiently and rationally review and assess financial markets to determine where they should target next. The financial community needs to urgently understand its greatest cyber exposures in order to counter this threat. 
BAE Systems and SWIFT seek to raise awareness and help the wider financial services community understand the risks and therefore be in a stronger position to defend itself. We believe this report is essential reading for Financial Institutions.

We have analysed and compared the relative vulnerabilities of four Financial Markets to attack from APT groups:
  • Foreign Exchange
  • Banking and Payments
  • Trade Finance
  • Securities
We assess the vulnerabilities of infrastructures of these markets and the participants within them, and we provide a summary set of recommendations for threat mitigation in each of the key areas of risk within these four markets.