Financial Institutions Need to Take Cybersecurity Seriously
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43% of cyber attacks target small community businesses
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smallbiztrends.com
4x
Financial institutions are 4 times more likely to be attacked than other industries
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Websense Security Labs Report (now Forcepoint)
47% of the time, companies are unaware that they've been breached until a 3rd party tells them
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Mandiant M-Trend Report
Cyber Attacks Are Expensive
For every $1 taken by fraud, financial institutions pay an additional $2.67 in chargebacks, fees, interest, and labor
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LexisNexis Study
$336
The average cost per stolen record is $336 in financial services
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IBM Security and the Ponemon Institute Report
81% of breaches at community financial institutions were at institutions with less than $35 million in annual revenue
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Beazley Breach Response
The Threats You’re Up Against
91% of cyberattacks start with a phishing email
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PhishMe (now Cofense)
76% of organizations reported being a victim of a phishing attack in 2016
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Wombat Security State of the Phish
Fake invoice messages are the #1 type of phishing lure
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Symantec Report
Failure to patch a 2 month old bug led to the massive Equifax breach
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Ars Technica
Over 80% of breaches are the result of poor patch management
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Voke, Inc.
What is an APT?
An Advanced Persistent Threat (APT) is an attack where various sophisticated techniques are employed to gain access to a network Attacks are performed by well organized and funded groups Once access is gained, attackers take sophisticated measures to avoid detection, perform reconnaissance of the environment, and then execute the primary objective Many times, the primary objective is to gather sensitive data, and then to extract that data
Beginning March 2016, Russian government cyber actors (known as Dragonfly) attacked US energy and other critical infrastructure sectors
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Symantec, US-CERT
On June 4, 2015, US Government officials announced a breach of data at the Office of Personnel Management (OPM) by Chinese threat actors known as Deep Panda
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SANS Institute
39% of people write their passwords on a piece of paper
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Digital Guardian
61% of people re-use passwords across multiple websites
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Digital Guardian
47% of people use passwords that are over 5 years old
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TeleSign Consumer Account Security Report
What is Privilege Escalation?
Privilege escalation is when an malicious program or user gains elevated access a protected area by either exploiting a bug, design flaw, or configuration oversight within an operating system or pieces of software
Forrester estimates that 80% of security breaches involve privileged credentials
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Forrester Wave: Privilege Identity Management
38% of attackers bypass defenses through social engineering
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SANS Survey
48% of attacks occur through user error
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SANS 2016 Threat Landscape Survey
88% of IT professionals consider security awareness training to be the most effective protection against ransomware
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KnowBe4 Survey
There are about 27 different techniques that hackers can use to exploit any vulnerability in any product
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ISMG interview of Dan Schiappa
What is a Drive-by Download?
Drive-by downloads are viruses or malware that a user unintentionally downloads while browsing online
The top 3 browsers (IE, Chrome and Firefox) had 1,004 vulnerabilities in 2015 and 2016
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CVEdetails.com
Cybersecurity in the News
Navigating M365 Security: Insights from Our 4-Part Immersion Training
The highly anticipated and well-attended M365 Security Immersion Training event explored the nuances of Microsoft 365 (M365) security. Led by seasoned experts and M365-certified security administrator associates, this series offered critical insights into Conditional Access Policies, Azure/Entra ID tenant configurations, and the transformative role of Artificial Intelligence (AI) in community banking. For those bankers eager […]
Navigating the Rising Threats to ATM Security
ATM crimes are not only a monetary threat to financial institutions but also a reputational one, demanding continuous innovation in ATM security both physically and cybernetically. Evolution of ATM Threats The journey of ATM security challenges can be traced back to the initial invention and networking efforts by Lloyd Bank in the late 1960s and […]
Elevate Your M365 Security Game: Tips from Our Certified Pros!
In a recent webinar, our M365-certified security administrators provided an in-depth look at various Microsoft 365 building blocks such as security configurations, features, and policies. The session also covered the significance of secure email protocols, data protection, and the continuous evolution of cloud security technologies. This blog highlights several key security features and best practices […]
Secure Our World: Join Us in Celebrating Cybersecurity Awareness Month
Cybersecurity Awareness Month, held annually in October, is a vital international initiative designed to raise awareness about the importance of being safe and secure online. This year’s theme, “Secure Our World,” continues from 2023 and highlights simple yet effective ways for individuals, families, and businesses to protect themselves from cyber threats. The Cybersecurity and Infrastructure […]