Cybersecurity Best Practices for Financial Organisations (No Jargon!)

Cybersecurity is a constantly shifting landscape. New technologies, threats, and defences emerge rapidly.

Tracking and protecting against cyber risk is complex - but it is not an area financial organisations can afford to ignore.

Financial services organisations are 300 times more likely than others to be targeted by a cyber attack.

As digital transformation expands, so does the opportunity for criminals to target businesses, systems, and customers.

Cybersecurity must be a priority for everyone - from board members to frontline staff.

Let’s explore five best practices your organisation can implement today, without the jargon.

1. Make Cybersecurity a Whole Business Concern

In a digital-first world, cybersecurity must be embedded in every part of your organisation.

It is not enough to rely solely on IT experts. Everyone plays a role in protecting your business.

Leading firms are already integrating cybersecurity into their operations by:

• Forming technology committees that oversee cyber risk across the business.
• Expanding incident protocols to involve senior leaders beyond the technical team.
• Making cybersecurity a day-to-day concern for executive leadership.
• Monitoring threats and regulation alongside internal systems reporting.

Creating clear policies across all levels helps build a framework where everyone contributes to defence.

2. Invest in People and Training

Cybersecurity is not just about firewalls and AI - people are your greatest risk.

The most advanced systems cannot prevent a breach if someone leaves their device unlocked.

Make your team part of your defence strategy:

• Train employees in how to identify threats and practise secure habits - using password managers, two-factor authentication, and logging out of devices.
• Run rehearsals so teams know what to do during an incident.
• Enforce strict policies such as ‘privileged access management’ to limit and monitor credentials.

3. Safeguard Everyday Activity

The biggest threats often arise during routine operations.

Phishing remains a top tactic - used in 46% of cyber attacks against the financial sector.

Fraudsters use fake messages to trick people into sharing information. With more remote work, reliance on email increases - and so does risk.

Switching to a secure email platform like Mailock can help defend your communications across your ecosystem.

Benefits include:

• End-to-end security for internal teams, advisers, and clients.
• Verified recipients via Unipass Identity authentication.
• Cost and carbon savings through reduced reliance on post.
• Consistent protection across business functions.

Secure tools like Mailock also show customers that you take their data seriously.

4. Educate Your Customers

As a financial organisation, you have a moral and regulatory duty to protect customers.

Yet, many cyber attacks begin outside your systems - with fraudsters impersonating your brand.

Financial services are the most impersonated sector, involved in 34% of phishing activity.

Minimise the risk by helping customers spot the warning signs:

• Explain how scammers may impersonate your brand via email, phone, or post.
• Offer simple ways to verify if a communication is legitimate.
• Share information policies so customers know how you behave and what to expect.

5. Spread Risk With Multiple Lines of Defence

No single tool will stop every attack. You need layers of defence.

Automation and human intelligence work best together:

• SIEM systems to monitor and report across your infrastructure.
• AI/ML fraud tools to spot patterns in suspicious behaviour.
• Automated resolution for basic incidents and threats.
• Specialist teams to handle complex escalations.

This joined-up approach improves coverage and reduces the impact of vulnerabilities.

Prioritising Secure Communications

Protecting customers has always been a core responsibility. Cybersecurity is just the latest evolution.

Modern security should reduce risk, cost, and disruption - especially when it comes to email.

Mailock is a secure email platform built specifically for financial services.

It uses encryption and authentication to enable secure data exchange across all communication points.

Mailock helps you:

• Reduce reliance on paper-based processes
• Build trust with clients
• Increase operational efficiency
• Meet growing compliance demands

References

Cyberattacks Hit Financial Services 300 Times More than Other Sectors, CIO Dive, 2019

Phishing Remains Top Route to Initial Access, Cybersecurity Dive, 2024

Phishers’ Favorites Top 25, Vade, 2022

Reviewed by

Sabrina McClune, 27.06.24

Sam Kendall, 18.06.25