Never have global financial institutions
faced such adversaries. The cybercriminal gangs now wield tools that
used to be the province of nation-states, and the nation-states now
engage in activities that once were owned by cybercrime. Scams
and schemes including account
takeover, denial of service and ransomware...
According to Sophos, the average cost of rectifying a ransomware attack in the financial services industry was US$2.10 million, considering ransom paid, downtime, people time, device cost, network cost, lost opportunity, and other factors.
Download this article to learn more about how the ransomware risk for...
Since existing security products are not adaptable to the way applications are being developed and pushed today, continuous security testing proves an ideal solution that helps in staying ready for any threat that is coming your way.
Download this datasheet to learn:
Why you should continuously test and tune your...
BAS is focused on validating the effectiveness of security controls. Due to its automated architecture, it also provides continuous visibility and quick mitigation insights unlike the traditional assessment methods.
Traditional assessments value is limited by:
The duration of testing
Starting out with MITRE ATT&CK can initially seem daunting. Containing over 180 techniques and 375 sub-techniques and distinct ways that attackers perform malicious activities.
In this blog, we offer advice to help you:
Become proactive in your approach
Respond to evolving attacker behaviors
According to a report by Boston Consulting Group, financial institutions are 300 times as likely to be targeted by a cyberattack than other companies.
In this blog you will learn about the most common metrics used to assess the effectiveness of security controls:
Volume of alerts
% of false positives
Understanding the challenges that increase cyber risks faced by the financial industry is crucial to be resilient against cyber threats.
In this blog you will learn how the below challenges can be addressed in a holistic approach:
Continuous Digital Transformation and Innovation
Complicated Legislations and...
From the billions pumped into unemployment and other economic relief programs during the pandemic to competitive marketing campaigns designed to increase customer acquisition, fraudsters have never had a better incentive to commit new account fraud. This session will highlight the problems financial institutions are...
VMware's Tom Kellermann is out with Modern Bank Heists 5.0, his latest look at the attackers and attacks targeting financial services. Subtitled "The Escalation," this report looks at the increase in destructive attacks, ransomware and hits on cryptocurrency exchanges. Kellermann shares insights.
Security control validation (SCV) is the foremost use case of Breach and Attack Simulation to help organizations answer the essential security questions needed to become threat-centric:
Test and measure the performance of security controls individually
Obtain actionable insight to maximize...
In our latest report, we detail seven primary cyber threats that organizations across the financial services sector will face in 2022. Some of them, such as ransomware, are not new but nevertheless remain a serious threat. Others, such as decentralized finance (DeFi) and cryptocurrencies, are newer, so to speak, and...
In order to keep pace with the card fraud threat landscape, financial institution CISOs must continually refresh their awareness and understanding of card fraud tactics, techniques, and procedures (TTPs). Even for the novice cybercriminal, there are few barriers to entry and near-infinite resources in illicit forums...
When it comes to advanced threat response, 42% of financial institutions say their current abilities are average. Only 35% say automation currently plays a strong role. Josh Zelonis of Palo Alto Networks and Sid Srivastava of Accenture analyze the State of Security Automation in Financial Services.
Online attackers are increasingly targeting the financial services sector. John Fokker, head of cyber investigations at Trellix, says his firm has charted a 22% quarterly increase in ransomware attacks on financial services, and APT detections have risen by 37%. Here's how the industry must respond.
The toll of a ransomware attack goes far beyond the price of the actual ransom. Ajay Bhatia of Veritas and Jose Thomas of Microsoft share the potential costs and gaps enterprises face when it comes to being able to detect, defend and recover from ransomware attacks.