This research aims to shed light on cyber threats targeting the UK’s financial sector. Due to the trend of transporting banking and financial services online, the sector is putting itself at cyber risk. Being the most likely sector to hold personal data of customers, the question of financial sector’s state of cyber security is of utmost importance.

In this report, KELA provides insights into ransomware victims, recaps activity of ransomware groups in 2021 — both in terms of their attacks and presence on cybercrime forums — and shares exclusive findings about collaboration of ransomware actors with other cybercriminals.

On February 27, 2022, as a response to the Conti ransomware gang’s support of the Russian invasion of Ukraine, a suspected Ukrainian researcher leaked internal conversations of its members. KELA analyzed the leaks to understand the group’s evolution and TTPs, as well as organizational structure. Get the report to learn more!