Cybercrime's Threat to Financial Institutions During COVID-19

This systematic review investigates the impact of the COVID-19 pandemic on cybersecurity by examining the rise of cyberattacks targeting financial institutions. By analyzing over 60 sources including academic research, government reports, and security company data, the review reveals a nearly two-fold increase in cybercrimes targeting financial institutions during the pandemic compared to pre-pandemic levels. Phishing attacks are identified as the most prevalent form of cybercrime within this context. The review delves further by analyzing the differences between phishing and other cyberattacks during COVID-19. Based on the results and observations presented in this paper, the analysis will contribute to enriching strategies to address the growing threat of cybercrime in the financial sector.