Stay ahead of cyber threats in the financial sector
The financial sector pays the steepest bill: $5.56 million per breach on average in 2025, according to IBM Cost of a Data Breach 2025. DORA has applied since January 17, 2025. Perimeter protection stops working the moment a file leaves the network. CyberGrant encrypts data at creation: the protection travels with the file wherever it goes, inside and outside the banking infrastructure.
Why is financial services the most targeted sector for cyberattacks?
Financial services has ranked among the most expensive sectors for breaches for over 12 consecutive years. Banks, fintech firms and insurance companies hold the data combination attackers value most, distribute it across an extended supply chain, and operate under a regulatory environment that turns every incident into a multi-impact event. For an overview of the current threat landscape, read How zero trust file-centric security protects banking data.
The main cyber threats for banks and fintech
Credentials, credit files and KYC data have high immediate economic value. For a closer look at how a real breach unfolds, read How zero trust file-centric security protects banking data.
Stolen credentials or phishing establish a foothold. Lateral movement then reaches critical systems before the attack is detected, often over weeks.
They personalize phishing and social engineering at scale. Internally, employees upload confidential documents to ChatGPT or Copilot without understanding the risk: that is Shadow AI. AIGrant solves it by keeping AI on-premise, inside the banking perimeter.
It encrypts critical systems and any backups reachable from the network. Without data access, operations halt. The ransom is the visible cost; downtime, mandatory breach notifications and regulatory fines are the bigger ones.
Vendors, outsourcers and partners access banking systems and data with security standards that are often lower than the institution's own. DORA requires this risk to be managed through documented contracts, audits and exit plans.
DORA: encryption, audit trails, ICT resilience and third-party risk management from January 17, 2025. NIS2: operational measures due by October 2026. GDPR Article 32: encryption and traceability as adequate measures. For file-sharing evaluation criteria under NIS2, see EU Directive 2022/2555.
How do CyberGrant’s solutions protect data in banks?
- Post-quantum encryption on contracts and financial documents
- Automatic tagging to block downloads and screenshots
- Access revocation even after sharing
- Transparent encryption of files and folders on company devices
- USB, clipboard and exfiltration blocking
- Defense against ransomware and phishing
- Private on-premise AI, zero data exposed in cloud
- Responses based only on data the user can access
- Automatic classification with full audit log
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- Access revocation after sending
- Scheduled expiration on messages and attachments
- Additional password-based encryption
- Attack Surface Discovery, Vulnerability Assessment and Penetration Testing
- Attack simulation for the ICT resilience tests required by DORA
- Executive Summary and Technical Report for auditors and the board
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FAQ about cybersecurity in financial services
Financial services is the second most expensive sector for breaches, at $5.56M per incident in 2025 (IBM Cost of a Data Breach 2025). Banks, fintech firms and insurance companies hold the combination of credentials, credit files, KYC data and contracts that give attackers the highest immediate payoff. A wide third-party supply chain multiplies the attack surface. Every breach triggers regulatory sanctions (GDPR, DORA, NIS2), operational disruption and reputational damage that is hard to recover from.
EU Regulation 2022/2554 (DORA), in force since January 17, 2025, requires financial institutions to ensure the confidentiality, integrity and availability of critical data across the full ICT lifecycle. Articles 6 and 8 explicitly include AI systems in the ICT risk scope. In practice: encryption at rest and in transit, verifiable access audit trails, documented third-party risk management, periodic resilience testing and protections proportionate to future risk, including the quantum computing threat. For the Bank of Italy's operational guidance, see its December 2024 communication.
stops working the moment a file reaches its destination. File-centric DLP encrypts the document at creation: protection stays with the file regardless of where it goes or how it was transmitted. A bank using FileGrant can revoke access to a document that has already been sent, verify who opened it and from where, and block screenshots and downloads. The file is unusable even if exfiltrated from the network.
FileGrant encrypts every document with AES-256 and CRYSTALS-Kyber post-quantum encryption (NIST FIPS 203, August 2024). Permissions can be revoked retroactively, even on files already delivered. RemoteGrant blocks transfers to unauthorized processes, including copy-paste to public generative AI tools, and secures workstation access from any endpoint. AIGrant keeps AI inside the banking perimeter: employees query sensitive data without exposing it to cloud systems. Every action is logged in an immutable audit trail available for DORA and NIS2 audits.
Quantum-safe encryption uses algorithms designed to resist attacks from quantum computers. CRYSTALS-Kyber, standardized by NIST as FIPS 203 (ML-KEM) in August 2024, is the post-quantum standard CyberGrant has adopted. The immediate risk for banks is harvest now, decrypt later: attackers collect today's encrypted data to decrypt it once quantum computers become commercially viable. For long-lived credit files, multi-year contracts and strategic plans, that vulnerability window is already open. DORA requires protections proportionate to future risk; CRYSTALS-Kyber addresses that requirement.
AIGrant is an on-premise RAG (Retrieval-Augmented Generation) system that lets bank employees query business documents with an AI assistant, without any data leaving the bank's infrastructure. It blocks the primary Shadow AI vector: employees sending confidential documents to ChatGPT, Microsoft Copilot or similar cloud services. Document classification runs entirely within the bank's environment, in line with DORA Articles 6 and 8 on AI within the ICT risk perimeter.
DORA (EU Regulation 2022/2554), from January 17, 2025: encryption, audit trails, ICT resilience and third-party risk management. NIS2 (EU Directive 2022/2555), in force in Italy since October 16, 2024: security measures for essential and important entities, with operational implementation due by October 2026. GDPR (EU Regulation 2016/679): encryption and traceability as adequate measures under Article 32, RBAC, post-sharing revocation for the right to erasure under Article 17. PSD2 and Bank of Italy / ECB regulations on ICT internal controls.
Key Takeaways
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Financial services is the second most expensive sector for breaches, at $5.56M per incident in 2025 (IBM Cost of a Data Breach 2025).
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DORA (EU Reg. 2022/2554), in force since January 17, 2025, requires encryption, audit trails and ICT risk management, including AI systems under Articles 6 and 8. For the Bank of Italy’s operational guidance, see its December 2024 communication.
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Traditional DLP secures the network perimeter and stops working the moment a file is delivered. Read How zero trust file-centric security protects banking data for an analysis of how the threat landscape is evolving. FileGrant protects data after delivery, with post-sharing revocation and screenshot blocking.
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Quantum-safe encryption CRYSTALS-Kyber (NIST FIPS 203, August 2024) addresses the harvest-now-decrypt-later threat: financial data encrypted today with classical algorithms can be decrypted in the future by quantum computers.
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AIGrant keeps AI inside the banking perimeter: employees query business data without exposing documents to public cloud services, in line with DORA Articles 6–8.