Ransomware claims in 2024 declined by 31% compared to 2023.

System infiltration accounted for 7% of cyber claims. This excludes extortion and data breach events.

51% of employees are using approved third-party GenAI tools.

86% of organizations continue to face the challenge of a shortage of skilled cybersecurity professionals. More than half of these organizations report having more than ten positions to fill.

Only 48% believe their teams fully grasp how malicious actors are using AI to execute sophisticated attacks.

The percentage of DDoS attacks in the 1-5Gbps range fell from 19.4% of all attacks in 2019 to just 12.4% in 2024.

Despite the 20% decrease from 2023, UK cyber claims in 2024 remained approximately one-third higher than the totals recorded for 2020, 2021, and 2022.

Ransomware claims in 2024 declined by 31% compared to 2023.

43% of organizations use AI to anticipate and prevent attacks.

89% of banks prioritise explainability and transparency in their AI systems.

Two-thirds of banks have integrated AI within the past two years.

AI is used for scam detection by 50% of financial institutions.

Among organizations using AI in the SOC, 55% say AI frees up analyst bandwidth.

92% of the financial institutions surveyed indicate that fraudsters use generative AI.

Forty-three percent (43%) of financial professionals report increased efficiency within fraud teams due to AI

59% cite a lack of internal expertise to validate AI vendor claims, which is also up from last year.

56% of financial professionals cite social engineering as a significant tactic powered by AI.

Among organizations using AI in the SOC, 50% cite better real-time threat detection.

90% of financial institutions are combating emerging fraud with AI-powered solutions.

Among organizations using AI in the SOC, 57% report faster alert resolution.