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The State of Ransomware in Financial Services 2026
177 IT and cybersecurity leaders from financial services organizations report on a year that upended the sector’s ransomware trends.
The sixth annual edition of this report examines how the root causes and consequences of ransomware attacks on financial services organizations, including banking, general financial services, and insurance providers, have shifted over the years.
This year’s report also shines new light on previously unexplored areas, including where attacks start in the environment, the defensive role of multi-factor authentication (MFA) and firewalls, and the connection between identity attacks and ransomware.
Report
The pressure is mounting for the IT and security practitioners who defend financial services organizations. Drawing on the real-world experiences of 177 financial services organizations hit by ransomware in the past year, the report explores:
- Why, and how, financial services gets hit: The technical and operational root causes behind attacks.
- Double extortion on the rise: Find out how much further data theft is creeping into financial services ransomware attacks.
- The long road back: See how financial services compares to other sectors on ransomware recovery costs and timelines.
- Ransom demands down, negotiations up: See how much negotiating power the sector had during incidents this year.
- The human toll: Anxiety, pressure, and workload are higher for IT and security teams in financial services than in any other sector.