Cybersecurity concerns surround online consumer. Source: Shutterstock.

Ninety-six percent of all cyberattacks on financial institutions during the first six months of 2020 were sophisticated attacks – those that are high-quality enough to resemble human behavior, according to a new report from NuData Security, a Mastercard company. This reflected the highest percentage of sophisticated attacks out of all industries analyzed and an increase from 90% during the same time period in 2019.

Unlike basic cyberattacks, which focus on high volume rather than quality and do not attempt to emulate human behavior, sophisticated cyberattacks often include human intervention, such as the solving of a CAPTCHA, and allow fraudsters to bypass common security layers such as bot detection tools, NuData explained. The industry with the second-highest percentage of sophisticated attacks from January to June 2020 was travel at 67%, an increase from 48% one year earlier.

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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