Cyber attacks on Czech bank clients surge by nearly 18,000 in 2024

The number of cyber attacks targeting clients of Czech banks rose significantly in 2024, reaching 87,407 cases, an increase of 17,722 incidents compared to the previous year. The total financial damage caused by these attacks climbed slightly to CZK 1.39 billion, although the average loss per victim decreased by CZK 3,500 to CZK 15,952. These findings were presented by the Czech Banking Association (ČBA) at a press conference, where it was also revealed that banks successfully prevented losses totaling CZK 7.95 billion through enhanced security measures.

According to Dušan Baran, Executive Director of the ČBA, these figures reflect the effectiveness of banks’ security protocols and their investment in advanced technologies, including artificial intelligence (AI), which is playing an increasingly crucial role in detecting and preventing fraudulent transactions.

While cyberattacks on bank clients surged, the overall number of cybercrime cases recorded by police declined by 6%, with 18,495 cases reported in 2024, averaging 51 incidents per day. Ondřej Pence from the Czech Police Prevention Department emphasized that public awareness remains a key deterrent to cybercrime. He highlighted the importance of information-sharing within families, which helps protect individuals from falling victim to fraud.

AI was also the focus of the #nePINdej! campaign, an educational initiative by the ČBA aimed at enhancing digital security awareness. Between September and December 2024, 176,921 people participated in the CyberTest, marking a 12% increase in engagement compared to the previous year. The average test score remained at 73%, with the highest success rate (80%) recorded among individuals aged 26 to 55. The most vulnerable group continues to be young people aged 12 to 17, who scored an average of 68%, highlighting their increased risk of cyber threats.

A recent ČBA and Ipsos survey found that younger users are less cautious when opening email attachments and check their bank accounts less frequently, making them a primary target for cybercriminals. In response, the Czech Banking Association launched CyberGame, a nationwide cybersecurity competition aimed at students in 7th to 9th grades of elementary schools and multi-year grammar schools. More than 10,000 students from 410 classes across the country participated.

Zdeňka Hildová, Director of ČBA Educa, explained that the competition was designed to help young people recognize online risks in a fun and interactive way. With cybercriminals increasingly targeting younger users, initiatives like CyberGame aim to equip students with the knowledge and skills to stay safe online while fostering greater awareness of digital security threats.

Source: ČBA Educa, Ipsos and CTK