<ul><li>Ransomware attacks on financial institutions have become a rising threat with multi-layered consequences.</li><li>Hackers are utilizing double extortion techniques, where they encrypt sensitive data and demand payment for its decryption, while also threatening to release or sell the data if the ransom is not paid.</li><li>The use of Distributed Denial-of-Service (DDoS) attacks is increasing in conjunction with ransomware attacks, causing disruptions and pressuring institutions to pay the ransom more quickly.</li><li>The consequences of these attacks extend beyond immediate financial damage, including incident response, regulatory compliance violations, and the challenge of disaster recovery.</li></ul>

Ransomware Attacks on Financial Institutions: A Rising Threat with Multi-Layered Consequences

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