Whether your core business is retail or investment banking, trading, insurance, brokerage or card services, Trend Micro solutions can help you understand the issues, and deliver solutions to strengthen risk management, protect e-finance operations, and defend against targeted attacks.
Today’s open network technologies allow for faster, more flexible operations, but also create a fertile environment for cybercriminals. Over the past decade, threats have advanced in complexity, diversity and overall volume to become powerful weapons that can wreak havoc for financial institutions.
Understanding your financial institution’s susceptibility to compromise is fundamental to successfully managing 21st century cyber-risk.
To thwart fraud in the financial sector you have to understand a cybercriminal’s tactics. This requires a new approach to risk management that encompasses the highly diverse range of cyber-attacks directed at financial services organizations.
Financial sector threats have been identified as the most omnipresent form of criminal activity across our electronic infrastructure, according to authorities at the World Bank, United States Secret Service (USSS) and Federal Bureau of Investigation (FBI).
As such, it serves both economic and national security interests for financial leaders to rapidly achieve a higher level of cyber-situational awareness. This requires deep insight into the threat environment to effectively mitigate vulnerabilities.
Financial institutions have the potential to see an outsized impact from data beaches when compared to other business sectors. Maintaining trust and confidence in the soundness of electronic transactions is critical.
For example, Automated Clearing House (ACH) fraud is rising at a high rate, and people that have money-moving rights are being targeted. This is causing small to mid-size financial companies and their customers to experience material financial losses.
According to the FDIC and FINCEN, computer intrusions and wire transfer fraud have increased noticeably in the past year alone. Managing risk is possible only through continuous monitoring of the effectiveness of your security controls.
As the technology infrastructure has evolved to embrace virtualization, mobility and cloud computing, cybercriminals have gotten more creative at hiding from law enforcement behind blended and staged attacks. Security policies have to evolve as well.
Protecting customer data has become ever more challenging with the proliferation of mobile devices. PII (personally identifiable information) is on the move, and security has to move with it —— from the data center to the device.
Private clouds and public/private hybrids offer considerable cost efficiencies and greater flexibility, but can increase risk without the right defensive strategies in place.
Tom Kellermann, in a recent webcast on meeting advanced persistent threats with persistent response, offered this list of questions for institutions to assess their risk in the cloud era:
There’s no question threats are increasing and diligent persistence is required to protect your assets. Total cloud protection from Trend Micro is a step in the right direction.