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We will review the possible cyber security measures: strategies and DLT as a possible solution against cyber threats. The impact of COVID-19 and large-scale attacks are huge topics thus, we will only analyze their direct impact on the financial institutions. We will examine the increase of cyber-attack vectors financial institutions are facing, the methods of attack most used by cybercriminals. Due to this last the impact of cyber-attacks against the financial institutions can have very severe effects. Financial institutions are the backbone of the economy.

Given their role in the economy the financial institutions are necessary to ensure liquidity, to guarantee the money supply in the economy, provide loans, savings and deposits, but also to ensure payments and settlements are made. In this paper we are presenting the impact of cyber-attacks on the financial institutions and highlighting the potential impact of these attacks on the global economy.

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