Cyber Security Trends In Banking
Cyber security and resilience in an industry dealing with sensitive personal and financial information and that s an attractive target of cybercriminals security is paramount for financial.
Cyber security trends in banking. Frederik mennes senior manager market security strategy security competence center onespan. According to responses to our recent cybersecurity benchmarking study firms now use a variety of technologies from multi factor authentication 90 to internet. Hence the reason why cyber security in banking is of utmost importance. Phishing email voip malware drive by or targeted security vulnerabilities 0 day 1 day and a.
Today it s not only cyber fraud but hacks into servers to obtain a customer s personally identifiable information pii. They face an almost infinite attack surface. Then it was computer fraud. Caroline paddle director skybox security gives her predictions about what we can expect in terms of financial services cybersecurity over the next 12 months.
This supports other recent findings. Caroline paddle coping with cloud misconfiguration. A 2018 study from accenture reported on the cybersecurity of 30 major banking applications. One of the most important cybersecurity trends in 2019 we ll see is the global adoption of open banking especially in the united kingdom the eu and asia pacific primarily in singapore hong kong and australia.
The banking sector has been under attack for hundreds of years. First it was the physical theft of monies. To keep up with consumer trends and avoid major security risks banks are going to invest in cybersecurity practices for mobile and web platforms. All 30 apps had at least one known security risk identified and 25 of them included at least one high risk security flaw.
Cybersecurity solutions for the banking financial services sector the end user customer very much like an employee at a financial institution is the weakest link to any secure environment. Cloud as a platform is being brought in to deal with the increase in big data build out banking platforms and improve operational. Emerging cyber trends as the number of sustained attacks increases investment in emerging technologies is likely to be a key theme in the next year and beyond for all organisations.