Financial Services Phishing Statistics

51% of IAM leaders and stakeholders cite the inability to support legacy apps and infrastructure as an obstacle to universal phishing-resistant MFA.

Only 28% of the MFA used for workforce authentication in financial services is phishing-resistant.

79% of IAM leaders and stakeholders cite technical or architectural complexity as an obstacle to universal phishing-resistant MFA.

53% of IAM leaders and stakeholders cite cost and budget constraints as an obstacle to universal phishing-resistant MFA.

94% of IAM leaders and stakeholders at financial services firms report that phishing attacks increased over the past year.

The average transfer fraud event costs roughly ten times more than the average email compromise in manufacturing claims.

Billing account update requests have a 26.5% compromise rate.

Routine invoice inquiries have a compromise rate of less than 1%.

Across the META region, Internet and Financial services accounted for over 80% of phishing activity.

In 2025, phishing activity in the META region targeted internet services (52.49%), financial institutions (28.50%), and the logistics sector (11.20%).

Financial services (68.45%) was the top industry targeted by phishing attacks globally in 2025.

Financial services (82.74%) was the top industry targeted by phishing attacks in Europe in 2025.

IT (38.24%) was the top industry targeted by phishing attacks in North America in 2025, followed by Financial Services (29.66%) and Internet Services (22.5%).

Financial services (97.36%) was the top industry targeted by phishing attacks in LATAM in 2025.

Financial services (94.24%) was the top industry targeted by phishing attacks in Central Asia in 2025.

Fifty percent of affected consumers cite immediate financial fraud as their primary fear, and 54 percent of consumers report an increase in targeted phishing attempts after a breach (2025)

Nearly a third of leaders at financial services firms admit they are not fully confident employees could recognize an AI-driven phishing or social engineering threat.

33% of leaders at financial services firms say they are unprepared to recover effectively from a Phishing or smishing campaign.

Initially, large financial institutions show 44.7% Phish-prone™ Percentage (PPP) rates, meaning nearly 45% of employees were susceptible to phishing attacks or likely to click on a malicious link or download an infected file.

Comprehensive security awareness training can reduce phishing susceptibility to below 5%.

59% of financial professionals cite SMS and phishing scams powered by AI to deceive victims.

89% of financial organisations expressed concern about AI-powered phishing attacks.