IMF’s Cyber Events and Digital Fraud in Financial Sector report finds cyber incidents account for 10% of global cases, while cyber-enabled fraud has nearly tripled and remains widely underreported

The paper examines global trends in cyber events and digital fraud affecting the financial sector using multi-source data, including cyber incident databases, official fraud statistics, and industry surveys. It finds a sharp rise in both cyberattacks and fraud over the past decade, driven by rapid digitalisation of financial services, increased system interconnectivity, and growing reliance on digital payments. Cyber incidents are shown to be highly concentrated in advanced economies and financial hubs, with banks and securities markets among the most targeted subsectors….