Phishing is a general term for any attempt to collect personal, financial and sensitive information by posing as a trustworthy entity in an electronic communication. The information is then used to access the targeted individual's accounts and can result in identify theft and financial loss. Bank accounts and credit cards are among the most popular targets for phishers. Ransomware is a type of malicious software designed to block access to a computer system until a sum of money is paid. This is the number one cyber threat consumers and businesses are currently facing.

It is important that financial organizations, their employees and their customers are knowledgeable about these threats.