Financial sector sees surge in AI-driven cyberattacks

A report by TrendAI titled ‘Modern Bank Heists in 2026’ reveals a significant rise in AI-driven cyberattacks targeting the financial services sector. Approximately 89% of surveyed financial service providers reported an annual increase in attacks utilizing artificial intelligence to automate phishing, fraud, ransomware, and intrusion attempts.

Key findings include a 55% increase in attacks via APIs and instances where 46% of organizations faced attempts to steal non-public market information or investment strategies. The report also highlights ‘counter incident response’ tactics, where 67% of respondents noted that attackers actively work to thwart security teams by deleting log files or disabling security software during an ongoing investigation.

Despite these escalating threats, 54% of surveyed financial institutions stated they have not received additional budget for cybersecurity. TrendAI recommends that institutions adopt AI-driven detection methods and strengthen the role of the Chief Information Security Officer (CISO) to improve organizational cyber resilience.