# 5 Modern Strategies to Elevate Phishing Tests in Finance

Source: https://keepnetlabs.com/blog/5-modern-strategies-to-elevate-phishing-tests-in-the-finance-sector
Published: 2025-04-23
Updated: 2026-10-16
Author: Ozan Ucar, Founder and CEO of Keepnet
Category: Phishing Simulation

> Discover 5 modern strategies that go beyond basic phishing tests to strengthen financial institutions’ cyber defenses. Ideal for CISOs, IT heads, and security leaders.

**Phishing attacks** have become a significant concern for organizations worldwide, especially in the finance sector, which holds sensitive data and faces strict regulations. In 2024, research indicated that **94**% of organizations experienced phishing attacks, highlighting the widespread nature of this threat ([Egress report](https://www.egress.com/blog/security-and-email-security/must-know-phishing-statistics-for-2025)). For financial institutions, the stakes are even higher, with **13**% of all phishing attacks in the third quarter of 2024 targeting this sector, according to the Anti-Phishing Working Group ([Docs report](https://docs.apwg.org/reports/apwg_trends_report_q3_2024.pdf)). 

The rise of [AI-driven spear-phishing](https://keepnetlabs.com/blog/what-is-an-ai-powered-phishing-attack-definition-examples-and-defense) and [deepfake](https://keepnetlabs.com/blog/what-is-deepfake-phishing) tactics further complicates the landscape, necessitating innovative strategies beyond basic phishing tests.

In this blog, we’ll discuss **5 unconventional methods to boost your phishing simulation** campaigns in the finance sector. 

***Editor's Note: This article was updated on March 12, 2026***.

## The 5 most Effective Methods to Improve Phishing Simulation Campaigns in the financial industry

As **AI spear-phishing** and **deepfake tactics** advance, financial institutions must go beyond basic phishing tests to protect sensitive data.  Here are **5 modern strategies to elevate phishing simulations and enhance cybersecurity resilience** in the finance sector:

### Method 1. Craft Hyper-Targeted Phishing Scenarios Mimicking Real Financial Workflows

Attackers frequently exploit finance-specific processes such as wire transfers, invoice approvals, and audit procedures.

**Implementation**:

- [Develop phishing simulations](https://keepnetlabs.com/blog/how-to-run-phishing-simulations-a-step-by-step-guide) mirroring internal finance tools, such as fake SWIFT requests or payroll system login pages.
- Utilize industry-specific jargon and partner bank branding to enhance authenticity. It is important to maintain a consistent brand identity by utilizing a versatile logo maker that aligns with the financial industry standards.

**Example**: A simulated "audit request" from regulatory bodies requesting sensitive customer data.

**Outcome**: Scenarios closely align with daily tasks, revealing genuine gaps in employees' adherence to security protocols.

### Method 2. Embed Regulatory Compliance into Test Metrics

In finance, compliance with regulations like [**GDPR**](https://keepnetlabs.com/blog/gdpr-awareness-training) or **PCI-DSS** isn't optional; it's a legal obligation.

**Implementation**:

- Go beyond measuring click rates; track adherence to established reporting protocols after a phishing incident.
- Align **phishing test scenarios** with audit requirements, tracking response documentation, and timeliness.

**Example**: Marking a test as failed if employees forward suspicious emails through unsecured channels rather than secure reporting portals.

**Outcome**: Demonstrates thorough compliance management to auditors, reducing legal and reputational risks.

Visit our page to [access free phishing tests](https://keepnetlabs.com/products/phishing-simulator). 

### Method 3. Deploy Multi-Channel Phishing Simulations (Beyond Email)

Financial sector employees frequently encounter phishing threats via [SMS (smishing)](https://keepnetlabs.com/blog/10-real-life-smishing-examples-to-strengthen-cybersecurity-awareness), [voice calls (vishing)](https://keepnetlabs.com/blog/vishing-statistics-unmasking-the-voice-phishing-threat), and [social media scams](https://keepnetlabs.com/blog/5-social-media-scams-you-need-to-watch-out-for). 

**Implementation**:

- Conduct realistic phishing simulations of fraudulent account verification calls or urgent SMS-based fraud alerts.
- Include deepfake audio tests impersonating company executives.

**Example**: Sending fake "fraud alert" text messages linking to cloned banking portals to test employee responses.

**Outcome**: Enhances preparedness against the broad spectrum of phishing threats increasingly prevalent in finance.

Check out our guide to [learn about the top phishing simulations and how you can start your campaigns using them](https://keepnetlabs.com/products/phishing-simulator). 

### Method 4. Leverage Behavioral Analytics to Personalize Training

Standard training programs often fail to address specific individual or departmental vulnerabilities.

**Implementation**:

- Utilize AI-driven analytics to pinpoint high-risk individuals or departments, such as treasury or customer support teams.
- Deploy personalized, micro-training modules based on user-specific behaviors observed during phishing tests.

**Example**: Employees who repeatedly click phishing links receive targeted interactive video training emphasizing red flags.

**Outcome**: Achieve a **40**%+ reduction in repeat phishing mistakes by delivering tailored, data-informed learning.

Check out this article to [learn how to enhance your security awareness training with adaptive, AI-driven, and personalized security awareness software](https://keepnetlabs.com/blog/keepnet-s-adaptive-security-awareness-training-software-ai-driven-personalized-and-effective). 

### Method 5. Bridge Phishing Tests with Incident Response (IR) Process

Rapid response is critical when phishing attacks breach initial defenses.

**Implementation**:

- Integrate IR protocols directly into phishing simulations, including immediate account lockdowns and forensic reviews.
- Conduct comprehensive "phish-to-breach" simulations to evaluate end-to-end response capabilities.

**Example**: Assessing how quickly IT teams isolate and secure compromised devices following a mock CEO fraud scenario.

**Outcome**: Significantly improves coordination and response speed among employees, IT departments, and legal teams. 

Check out our guide to learn how you can enhance security awareness in the finance sector beyond phishing tests.

## How Keepnet Can Help Financial Institutions Boost Phishing Tests

[Keepnet's platform for human risk management and secure behaviour management](https://keepnetlabs.com/)equips banks, insurers, and other financial organizations with everything they need to run sophisticated, targeted phishing simulations that drive measurable risk reduction, without cobbling together multiple tools.

### Top Multi‑Channel Phishing Simulations

[Keepnet Phishing Simulations](https://keepnetlabs.com/products/phishing-simulator) offers an integrated platform for launching and managing diverse phishing tests, including email, SMS, voice, QR code, and MFA-based simulations. The platform provides finance-specific templates that mimic real-world attack scenarios, such as fraudulent wire transfer requests, deepfake executive voicemails, and urgent "fraud alert" SMS messages. These simulations effectively test and train treasury and related departments against the latest phishing tactics.

### Adaptive Security Awareness Training

[Keepnet Security Awareness Software](https://keepnetlabs.com/products/security-awareness-training) uses behavioral analytics to identify employees' risk levels in real time and deliver personalized micro-learning modules. For example, employees who click on a fake audit notice receive an interactive training, while back-office staff are given gamified quizzes on identifying spoofed payment requests. This targeted approach has been shown to reduce repeat failures by an average of **40**% within 3 months.

## Frequently Asked Questions

### Why do financial institutions need different phishing tests?

Because the workflows attackers imitate are specific: payment approvals, wire confirmations, regulator correspondence and vendor invoices. A generic delivery notice scenario does not test the process where money actually moves.

### How do you make phishing scenarios realistic for finance teams?

Model them on the organisation's own workflows, including approval chains and supplier communication, and time them to periods when those messages normally arrive, such as month end.

### Should compliance requirements appear in test metrics?

Yes, provided they do not become the goal. Regulators want evidence that testing happens and that failures produce action, and that evidence is a by-product of measuring susceptibility and reporting properly.

### Why test channels beyond email in finance?

Because payment fraud arrives by phone. Phone centric simulations fail at roughly 40% higher rates than email based ones (Verizon, 2026 Data Breach Investigations Report, 2026, p. 50), and business email compromise losses reached 3.05 billion dollars in 2025 (FBI Internet Crime Complaint Center, 2025 Internet Crime Report).

### How should results connect to incident response?

A simulation should end in the same place a real report does. If the reporting route works during a test, it works during an incident, and if it does not, the test has found something more valuable than a click rate.

### What metrics matter most for a financial institution?

Susceptibility by channel and by department, reporting rate, time to report, and repeat exposure among people who approve payments. Those four describe exposure where the money is.