Financial Services Data Breach Statistics
Financial services breaches cost on average $6.3 million.
Financial services recorded the highest frequency of compromises by sector at 387.
35.9% of IT and security professionals report experiencing business email compromise (BEC) resulting in financial or data loss in the past 12 months.
In North America, 24% of breached organizations reported losses of at least $100,000 in the past year.
In North America, 12% of breached organizations reported losses above $250,000 in the past year.
423 financial services organizations appeared on dedicated leak sites, marking a 27% year-over-year increase.
Mean recovery cost for identity-related incidents reached $1.64 million, with a median of $750,000, and 73% of affected organizations facing costs of $250,000 or more.
When identity breaches impact business, the primary consequences are data theft (49%), ransomware (48%), and financial theft (47%).
The median perceived cost of the most disruptive breach or attack was £0 for businesses and £0 for charities, increasing to £30 for medium and large businesses.
In 2025, data breaches accounted for 64% of security incidents affecting financial institutions.
In 2025, 90% of breaches affecting financial institutions were financially motivated.
Shadow AI accounted for 20% of AI-related breaches affecting financial institutions.
97% of financial organizations affected by AI-related breaches lack adequate access controls.
The financial sector was the second-most expensive industry for data breaches, at $5.56 million per breach.
47% report operational shutdown, 41% report data loss, 41% report reputational damage, and 40% report lost revenue as impacts of cyber attacks in the last 12 months.
Two-thirds of Americans say they would consider switching financial institutions following a major breach.
51% of banking executives report a significant email-based breach in the past year.
50% of banking executives report a mobile-related breach in the past year.
In 2025, Financial Services had 739 compromises; Healthcare had 534 compromises; Professional Services had 478 compromises; Manufacturing had 299 compromises; Education had 188 compromises (2025)
40% of insider incidents involved business-sensitive financial and strategic information.
Just 16% of MSSP-supported financial services firms require two to four weeks to contain a breach.
67% of family offices demonstrated the highest level of concern about outdated infrastructure and their ability to recover from a data breach (compared to 50% average).
25% of internal shared-resource financial services firms require two to four weeks to contain a breach.
11% of leaders at financial services firms say they are unprepared to recover effectively from a Vendor or third-party breach.
Between 2019 and 2023, financial services experienced large losses primarily from data breaches (40.9%) and ransomware (40.9%), followed by other causes (18.2%).
100% of Europe's top financial firms suffered supplier breaches.
Almost all (97%) of major U.S. banks experienced third-party breaches in 2024.
The top consequences of breaches reported were operational downtime (71%), reputational damage (45%), and financial loss (41%)
Application Security and DNS Health were the most common weaknesses, with 46.4% of fintech companies scoring lowest in application security.
28.2% of fintech companies that experienced publicly reported breaches had multiple incidents.
Fourth-party exposures accounted for an additional 11.9% of breaches on fintech companies, which is more than double the global average.
41.8% of breaches impacting top fintech companies originated from third-party vendors.
18.4% of fintech companies experienced publicly reported breaches.
Technology products and services were linked to 63.9% of third-party breaches. File transfer software and cloud platforms were the most frequent points of compromise within this category.
41.8% of breaches impacting top fintech companies originated from third-party vendors.
68% of executives across financial and professional services who expect an increase in financial crime risk cite cybersecurity threats and data breaches as the top risk factor.