Cloud - Based Ransomware Attack on US Financial Institutions: An In - depth Analysis of Tactics and Counter Measures

Oladipupo M. Dopamu

Abstract: This study examines the evolving landscape of ransomware threats targeting cloud - based systems in US financial institutions. Through a comprehensive analysis of recent attack patterns, defense mechanisms, and case studies, we identify vulnerabilities and assess the effectiveness of current cybersecurity measures. Our findings reveal a significant increase in sophisticated ransomware attacks exploiting cloud - specific vulnerabilities. The research underscores the need for financial institutions to adopt advanced, layered security strategies, incorporating Al and blockchain technologies, to mitigate these risks effectively. This paper contributes to the cybersecurity field by offering insights into ransomware tactics and proposing innovative defense solutions tailored to the cloud computing environment.

Keywords: Cloud Security, Ransomware Attacks, Financial Institutions, Cybersecurity Measures, Attack Mitigation Strategies