Organizations operating in the finance industry are under increasing pressure from multiple directions: cybersecurity, operational resilience, and incident disclosure.
From a cybersecurity standpoint, banks and other financial institutions are investing heavily into network security, endpoint protection, and identity controls.
And yet, one critical risk remains dangerously underestimated: file-based malware.
Malicious PDFs, Microsoft Office files, and compressed archives are now among the most common initial access vectors for ransomware, data exfiltration, and advanced persistent threats.
For regulated financial institutions, failing to address file-borne threats is not just a security gap; it is a direct compliance and regulatory risk.
File-Based Malware Is an Expensive Risk for Financial Institutions
Employees and customers expect files they use in their day-to-day activities to be safe, rarely second guessing a document.
It’s a false feeling of safety which turns documents into an ideal vehicle for stealthy attacks.
In fact, 70% of breaches in the financial and insurance sectors were delivered via phishing and malicious attachments in 2024 alone and the frequency shows no signs of slowing.
We know that 65% of financial services organizations were hit by ransomware in 2024.
Out of these 65%, the financial services industry accounted for 432 incidents, totaling approximately $365.6 million in reported ransomware payments between 2022 and 2024 alone.
Common File-Based Malware Types
Financial institutions encounter these file-based threats daily:
| File Type | Attack Vector | Risk Level |
|---|---|---|
| PDF Files | Embedded JavaScript executing malicious code | Critical |
| Office Documents | Weaponized macros downloading ransomware payloads | Critical |
| ZIP/RAR Archives | Concealed executable files evading email filters | High |
| HTML/ISO Files | Container formats bypassing endpoint defenses | High |
| Image Files | Steganography hiding malware in pixels | Medium |
These techniques allow malware to evade traditional detection while blending seamlessly into normal business operations.
High-Volume File Processing Creates Multiple Entry Points
Financial institutions handle an exceptionally high volume of files every day, largely driven by strict regulatory and operational requirements.
Starting from customer onboarding to ongoing account management, sensitive documents are uploaded, shared, and processed across multiple channels:
- KYC and AML documentation uploaded during account opening and ongoing monitoring
- Loan and mortgage applications with supporting financial statements and tax documents
- Claims processing files containing medical records, invoices, and supporting evidence
- Secure customer portal uploads for account maintenance and service requests
- Email attachments from third parties and counterparties including vendors, partners, and regulators
- Wire transfer documentation and payment authorization forms
- Regulatory filings and reports exchanged with oversight agencies
Each of these file uploads represents a potential entry point for malware and zero-day threats.
When files move through cloud-based workflows or automated processing systems without thorough inspection, malicious content can slip through unnoticed.
Consequently, undetected malware introduces security, compliance, and operational risk into environments that rely heavily on trust and speed.
Why Traditional Security Controls Are Not Enough
Legacy antivirus and single-engine scanning solutions rely heavily on signatures and known indicators of compromise, making them ineffective against the sophisticated file-based threats targeting financial institutions today.
1. Signature-Based Detection Fails Against Modern Malware
Traditional antivirus compares files against databases of known malware signatures. This approach misses:
- Zero-day exploits for which no signatures exist
- Polymorphic malware that modifies its code signature with each iteration
- Custom malware developed specifically to target your institution
- Encrypted payloads that hide malicious code inside legitimate file structures
Financial institutions have been repeatedly compromised by zero-day vulnerabilities in common business applications: PDF readers, Microsoft Office, file compression utilities; before security vendors could develop signatures.
2. Single-Point Security Creates Dangerous Gaps
- Relying on a single security vendor or detection method creates vulnerabilities:
- Different antivirus engines excel at detecting different malware families
- No single vendor catches all threats; detection rates for individual engines rarely exceed 70-80%
- Attackers test malware against popular security solutions before deployment
- Cloud-based file workflows often bypass on-premises security entirely
3. Speed and Scale Challenges
- Modern business requires rapid file processing:
- Traditional deep analysis takes minutes per file, creating unacceptable delays
- High-volume file processing (thousands per day) overwhelms manual review
- Real-time collaboration requires instant file access across cloud platforms
- Customer-facing portals demand immediate upload processing
Financial institutions need security solutions that provide robust protection without sacrificing operational efficiency; a balance traditional tools cannot achieve.
The Growing Malware Challenge in Financial Services
Financial institutions remain high-value targets due to the volume of sensitive financial and personal data they store and process.
Unlike many cyberattacks that can be contained in a single system, file-based malware spreads through the very workflows that define modern banking operations.
In financial environments, malware incidents extend far beyond operational disruption. They often lead directly to regulatory violations and compliance failures, including:
- Breaches of GDPR, PCI DSS, and regional financial data privacy regulations
- Unauthorized access to customer or transaction data
- Data leakage or manipulation resulting from undetected malicious files
File uploads and downloads - whether customer-facing or internal - remain a blind spot in many security architectures.
Embedded threats can evade traditional endpoint tools yet still introduce serious compliance risks when malware leads to data exposure, tampering, or loss of integrity.
Compliance and Regulatory Risk
File-based malware introduces compliance challenges that go well beyond technical security controls.
Sensitive Data Protection
Regulations such as GDPR, PCI DSS, GLBA, SOX, and ISO 27001 require strict safeguards to ensure the confidentiality and integrity of customer data. Malware hidden in documents can bypass controls and enable unauthorized access or exfiltration.
Audit and Traceability Gaps
Malware infections can corrupt logs, evade monitoring, or obscure incident timelines; weakening audit trails that regulators depend on accountability and reporting.
Third-Party and Vendor Risk
Banks frequently exchange files with partners, vendors, and service providers. Without comprehensive file inspection, malicious documents can enter trusted environments, amplifying both security exposure and regulatory liability.
MetaDefender Cloud™: Strengthening File Security and Compliance
OPSWAT’s MetaDefender Cloud™ is a cloud-based malware analysis and threat prevention platform designed to address the unique security and compliance challenges faced by financial institutions.
It enables organizations to inspect, sanitize, and approve files at every critical entry point - including customer portals, partner exchanges, and internal workflows; without disrupting business operations.
Multiscanning with 20+ Anti-Malware Engines
Rather than relying on a single antivirus engine that might miss sophisticated threats, MetaDefender Cloud employs the Metascan™ Multiscanning technology.
It analyzes files using over 20 industry-leading anti-malware engines simultaneously.
Deep CDR™ - Proactive Protection Against Unknown Threats
Deep CDR proactively protects against unknown threats by removing potentially malicious elements and reconstructing files into safe, fully usable versions, without disrupting business workflows.
It is especially effective for high-risk file types such as Office documents, PDFs, archives, and images commonly used in financial operations.
By sanitizing files at the point of entry, financial institutions can safely handle the volume of documents required for daily operations without exposing systems to file-borne threats.
MetaDefender Aether™
MetaDefender Aether performs dynamic sandbox analysis to detect sophisticated malware that evades static scanning.
Suspicious files are executed in isolated environments to observe real behavior, uncovering advanced threats such as multi-stage malware and APTs.
Sandbox analysis is critical for detecting advanced persistent threats that use multi-stage infection techniques specifically designed to evade traditional security controls.
Proactive DLP™
MetaDefender Cloud includes Proactive DLP to detect and block sensitive or regulated data such as PII, PCI data, and PH; before files are shared or stored.
This helps organizations reduce compliance risk while maintaining secure file workflows.
Predictive Alin AI
Predictive Alin AI is OPSWAT’s next-generation static AI engine designed to assess files prior to execution by analyzing file structure and characteristics to identify potentially malicious content.
Optimized for high-volume, enterprise content flows, Predictive Alin AI delivers rapid, pre-execution risk assessment and works alongside multiscanning, Deep CDR™, and sandbox analysis (MetaDefender Aether) as part of MetaDefender Cloud’s layered file security approach.
Why This Matters for Compliance
Together, these technologies enable organizations to detect known and zero-day threats, sanitize files, and prevent sensitive data exposure.
The proactive, layered security controls powered by MetaDefender Cloud support compliance with regulations such as PCI DSS, GDPR, HIPAA, ISO 27001, and NIST.
Cloud-Based Scalability and Integration
Modern financial institutions require security solutions that scale with business demands without extensive on-premises infrastructure or operational overhead.
MetaDefender Cloud delivers on these demands, through:
1. Flexible Deployment Options
- Cloud-native architecture providing high availability and global reach
- Regional deployment options supporting data residency requirements
- Hybrid support for institutions with mixed cloud and on-premises environments
- Performance at scale: 90% of files are processed under 8 seconds
2. Seamless Integration
MetaDefender Cloud is built on an API-first architecture, allowing organizations to integrate advanced file security into existing applications and security workflows.
- REST APIs for integrating file analysis, sanitization, and reputation checks into custom applications
- Comprehensive API documentation and code examples to support development and integration
- Integration with cloud storage, collaboration, and file transfer platforms via APIs
- SIEM/SOC compatibility through rich metadata, logs, and verdicts for centralized monitoring and incident response
3. Common Integration Points
MetaDefender Cloud is commonly deployed at file entry point and exchange points where malware and sensitive data can enter an organization:
- Customer-facing web portals and applications
- Cloud storage platforms (e.g., SharePoint, Box, Google Drive) via API integration
- Email security gateways for attachment inspection
- Secure file transfer and document exchange systems
- Document management and workflow automation platforms
- Line-of-business applications where files are uploaded or shared
Real-Time Threat Intelligence
MetaDefender Cloud incorporates threat intelligence and reputation services to enhance file security and contextual risk assessment.
- Global malware intelligence derived from multiscanning engines and OPSWAT research
- IP, URL, and domain reputation services to identify malicious or suspicious infrastructure
- File metadata and threat context to support security investigations and compliance reporting
These intelligence capabilities help organizations make informed security decisions without relying solely on signature-based detection.
File-Level Protection Day-to-Day Financial Operations
To effectively reduce compliance and security risks, file-level protection must be embedded directly into daily operations.
Financial institutions should start by scanning files at every entry point, including customer uploads, partner transfers, and internal communications.
Automating policy enforcement through proactive DLP and data classification helps prevent sensitive information from leaking before an incident occurs.
Finally, integrating file-level threat intelligence and metadata into SIEM and SOC platforms strengthens incident response, audit readiness, and regulatory reporting.
We have moved past the time where financial institutions had the option to opt out of investing in advanced file security.
Today, the only question remaining is how quickly they can implement solutions that close this critical compliance gap before the next breach triggers regulatory action.
With advanced file inspection, sanitization, and malware analysis technologies like those provided by MetaDefender Cloud, organizations can reduce regulatory exposure, prevent costly breaches, and maintain compliance with evolving global standards.
FAQs
What is file-based malware and why is it dangerous for financial institutions?
File-based malware hides malicious code inside trusted documents like PDFs, Office files, and archives. In financial services, these files are widely exchanged in customer onboarding, lending, and compliance workflows, making them a major attack vector and compliance risk.
Why can’t traditional antivirus tools stop file-based malware?
Traditional antivirus relies mainly on known signatures, which cannot reliably detect zero-day threats, polymorphic malware, or malicious content embedded in legitimate file formats. OPSWAT addresses this gap through layered, multi-technology file inspection.
How does MetaDefender Cloud protect against file-based threats?
MetaDefender Cloud combines multiscanning with 20+ anti-malware engines, Deep CDR™ file sanitization, Predictive AI (ALIN), sandbox analysis(Aether), and Proactive DLP to detect, remove, and prevent known and unknown threats before files reach users or systems.
How does MetaDefender Cloud support regulatory compliance?
By preventing malware infections, sanitizing files, detecting sensitive data, and generating audit-ready security metadata, MetaDefender Cloud helps organizations support compliance with regulations such as PCI DSS, GDPR, HIPAA, ISO 27001, and NIST.
Can MetaDefender Cloud integrate with existing financial systems?
Yes. MetaDefender Cloud is API-first and integrates into customer portals, cloud storage platforms, email gateways, document management systems, and SIEM/SOC workflows; enabling secure file processing without disrupting existing workflows.
