The document summarizes cybersecurity trends in the financial services sector in 2016. Some key points:
1) The financial services sector remained the most attacked industry in 2016, experiencing 65% more attacks on average than other sectors. Common attack methods included SQL injection and command injection exploits.
2) While total attacks increased in 2016, average security incidents decreased for financial services organizations monitored by IBM.
3) Insider threats, both malicious and inadvertent, posed a larger risk than outsider attacks for financial services organizations. The majority of insider attacks were caused by inadvertent or compromised systems rather than malicious insiders.
This document provides a risk assessment of JPMorgan Chase's 2014 data breach conducted by a team from the University of Washington. It summarizes the breach, in which 83 million customer records were stolen, and evaluates risks to the bank. The team identifies stakeholders, assets, risks, and makes strategic recommendations. Following the ISO 31000 framework, the assessment categorizes risks, assesses key risks, plans controls, and provides advice to senior management on preventing future breaches and protecting customer data.
Accenture re-organizing-todays-cyber-threatsLapman Lee ✔
Banks are facing an urgent need to bring fraud risk management and IT security—two historic silos—more closely together to combat mounting data security and cyber threats.
The document is a report from IBM analyzing cyber attack data from 2014. Some key findings include:
- Unauthorized access incidents nearly doubled from 2013 and accounted for 37% of all incidents in 2014, likely due to vulnerabilities like Shellshock and Heartbleed.
- Over 62% of incidents targeted just three industries: finance/insurance, information/communications, and retail.
- More than half of all attacks came from internal sources like employees or contractors, though most internal breaches were unintentional.
- The US was both the most attacked country and the origin of over half of all attacks due to its large size and internet infrastructure.
Financial Institutions, Merchants, and the Race Against CyberthreatsEMC
This Aite analyst report examines the common threats facing financial institutions and retailers, including mobile attacks, DDoS, and malware, and offers recommendations on common defenses deployed by players in both industries.
As we reflect on 2019, we see some notable shifts in the threat landscape, with businesses facing new levels of complexity
in fraud orchestration. Rather than looking for the quick buck, fraudsters are playing the long game, with multi-step attacks
that do not initially reveal their fraudulent intent.
As the saying goes, ‘money makes the world go round’, and this could not be more true for the cybercrime underworld.
Fraudsters’ unrelenting demand for fresh user credentials provides the financial incentive for cyber attackers carrying out
major data breaches. When fraudsters successfully leverage the spoils from these breaches to make money, they will use
the proceeds to invest in more advanced attack toolkits and greater volumes of stolen data. As a result, organizations find it
increasingly difficult to defend against the barrage of attacks on their websites and apps.
The only sustainable approach to curbing the cybercrime cycle of success is adopting a zero-tolerance approach to fraud
prevention. Tolerating current fraud levels as a 'cost of doing business' exacerbates the problem long-term by providing the
financial incentive for fraudsters. In-depth profiling of activity across customer touchpoints helps organizations facing subtle
attacks that do not show immediate tell-tale signs of fraud. When combined with targeted friction, large-scale attacks
quickly become unsustainable for fraudsters who have become accustomed to circumnavigating systems that avoid putting
up barriers to users.
As the latest data from the Arkose Labs platform show, attack rates are continuously on the rise. Going into 2020, the fraud fighting community needs to finally win back the upper hand against fraudsters, protecting individuals and our society from
the effects of cybercrime.
The document discusses hacking web applications and is divided into several sections. It begins with concepts of web applications, then covers web application threats. Next it describes the methodology for hacking web applications and the tools used. It then discusses countermeasures, security tools, and concludes with web application penetration testing. The overall objective is to highlight vulnerabilities in web applications and the attacks that exploit them, as well as methods for defense.
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
This purpose of this writing is to cover some of the core requirements for implementing cybersecurity, the accountabilities for cybersecurity risks and the information used to manage a viable cybersecurity program.
This document summarizes cyber risks and data breaches. It discusses the growing threat of cyber crime and costs of data breaches. Mandatory breach disclosure laws have significantly increased costs for US companies, with the average data breach costing $7.2 million compared to $1.9 million in the UK without such laws. Examples of large breaches include Sony, which suffered a breach of 77 million user records costing an estimated $171 million. The document examines risks like hacking, theft, and human error, as well as emerging issues around cloud computing and mobile devices.
Article global it systems are now even more vulnerable - paul wrightPaul Wright MSc
April 2020, Authour of the Article in the UAE Gulf Newspaper
"Global IT systems are now even more vulnerable"
https://bit.ly/3go8n7j
The effects of COVID-19 on businesses and global supply chains are being felt around the world. Aside from the economic impact, there have also been illegal and legal consequences, with an increase in cybercrime and business fraud, as cybercriminals try to take advantage of these uncertain times.
Symantec Intelligence Report - Oct 2015CheapSSLUSA
Explore this PDF to know Symantec intelligence report for OCT 2015 from Symantec Global Intelligence Network.
Enjoy this report and feel free to contact us with any comments or feedback.
Important points you have to note down from this report:
- The number of new malware
- Spam have been increasing over the last few month
- Finance, Insurance, & Real Estate sector was the most targeted sector in OCT month
The document summarizes cyber threat trends in 2018 according to a Symantec report. It saw a rise in formjacking attacks that steal payment card data, though cryptojacking activity declined along with cryptocurrency values. Ransomware infections decreased overall but rose for enterprises. Living off the land attacks using tools like PowerShell increased substantially. Targeted attacks grew more sophisticated with groups targeting operational systems and destructive malware.
Cyber-attacks destroy the trusted relationship with customers and partners, the lifeblood of financial services. The industry is also behind the curve when it comes to adapting to the changes in working practices and consumer behaviour, driven by rapidly evolving smart devices.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
- Cybersecurity spending has grown significantly over the past decade, from $3.5 billion in 2004 to an estimated $120 billion in 2017, driven largely by increasing cybercrime.
- Many large companies have significantly increased their cybersecurity budgets in response, including Bank of America which has an unlimited budget for cybersecurity, JPMorgan Chase which doubled its budget to $500 million, and Microsoft which invests over $1 billion annually.
- However, small and medium businesses are particularly vulnerable as they bear 72% of cyber attacks but often lack the resources of larger companies to implement robust cybersecurity programs. Highground Cyber aims to help small and mid-market CEOs protect their companies through comprehensive cybersecurity solutions.
Cyber Claims: GDPR and business email compromise drive greater frequenciesΔρ. Γιώργος K. Κασάπης
Business email compromise (BEC) has overtaken ransomware and data breach by hackers as the main driver of AIG EMEA cyber claims, according to the latest cyber claims statistics.
Nearly a quarter of reported incidents in 2018 were due to business email compromise (BEC), up significantly from 11% in 2017. Ransomware, data breach by hackers and data breach due to employee negligence were the other main breach types in 2018.
Who is the next target and how is big data related ulf mattssonUlf Mattsson
The document discusses data security threats and trends related to big data and recent high-profile data breaches. It notes that targeted malware and data breaches are among the top security pressures according to a 2014 report. The Target breach is discussed in which malware scraped memory on point-of-sale devices to steal payment card data, some of which was sent to servers in Russia. New forms of malware are emerging that use similar memory scraping techniques, posing risks to any organization that processes sensitive data. The cost of cybercrime is growing significantly and attacks are becoming more sophisticated faster than defenses can improve. New approaches to data security focusing on tokenization and analysis of abnormal traffic patterns are discussed as alternatives to traditional approaches like encryption and access controls that
The document discusses the growing security challenges faced by organizations and the need to close the gap between security (SecOps) and IT operations teams. It notes that the volume and complexity of cyberattacks have increased significantly. However, current security tools, processes, and teams are often unable to keep up due to a lack of integration and coordination between security and operations groups. This results in security vulnerabilities not being addressed quickly enough, leading to potential data breaches and other security incidents. The document argues that automating security and operations workflows can help eliminate inefficiencies and prioritize the remediation of the most critical issues.
This document discusses threats in social media according to a 2019 study. It finds that most adults use social media daily and have privacy/security concerns. Facebook is the most popular platform but 2 in 5 users are very concerned about privacy/security on it, and 1 in 5 have stopped using it due to such concerns. The document outlines key social media threats like data breaches, phishing/malware, catfishing/deception, and cyberbullying. It provides examples of each and advises users to take precautions like using strong passwords and privacy settings.
The document discusses cyber security issues and proposes policy solutions. It outlines current problems like a lack of security standards, interconnected systems being vulnerable, and attacks coming from anywhere. The document argues for establishing comprehensive cyber security policies, expanding US CERT, incentivizing businesses to regulate themselves, and addressing human vulnerabilities. The goal is to facilitate technological innovation in a safe, secure environment.
The document discusses cyber security threats facing the financial services industry based on data collected by IBM between 2012-2013. It finds that:
1) Financial services firms experience a high rate of cyber attacks and security incidents, with an average of over 111 million security events and 87 incidents annually requiring action.
2) The most common incidents are malicious code (42% of incidents) and sustained probes/scans (28%). Over half of attacks are carried out by a combination of insiders and outsiders.
3) Most attacks (49%) are opportunistic in nature. Preventable factors like misconfigured systems or end-user errors are the primary reasons for security breaches across industries.
This document summarizes a cyber security planning panel discussion. The panelists discussed (1) the importance of cyber security for all organizations, even small and medium enterprises, as attackers target any organization that may have assets; (2) that all organizations have cyber security responsibilities to customers, stakeholders, and authorities; and (3) that organizations can take action to improve their cyber security through basic measures and defenses. The panel then covered specific cyber security threats like ransomware and weaponized artificial intelligence, trends showing small businesses and public sectors are increasingly targeted, and best practices for mitigation including having a plan, insurance, and a cyber security partner.
White Paper :- Spear-phishing, watering hole and drive-by attacks :- The New ...Invincea, Inc.
The single largest threat your organization faces today is network breach. Spear-phishing, poisoned search results, drive-by downloads, and legitimate sites being compromised to push malware are all part of our current reality. The most successful and common attacks vectors stem from targeted attacks on your employees. Organizations need to utilize solutions that protect their network from user error and support requirements for continuous monitoring, real-time situational awareness and providing actionable threat intelligence for their security teams.
CYBERSECURITY STRATEGIES FOR SAFEGUARDING CUSTOMER’S DATA AND PREVENTING FINA...ijsc
As the financial sectors in the United States deal with expanding cyberthreats and a rising danger of
financial crime, cybersecurity has become a top priority. This paper examines the crucial cybersecurity
techniques used by financial institutions to protect client information and counter the growing risk of
financial fraud. It proves that understanding common fraud tactics used to defraud financial institutions
and customers, putting fraud detection and prevention techniques like anomaly detection and machine
learning into practice, and using transaction monitoring and anti-money laundering tactics to spot and
stop fraudulent activity are all necessary for preventing financial fraud. The paper begins by reviewing the
common cyber dangers affecting the financial industry and the strategies used by cybercriminals to
circumvent security precautions and take advantage of weaknesses. After looking at potential risks, the
paper highlights the importance of proactive cybersecurity measures and risk mitigation techniques. It
highlights crucial components of cybersecurity frameworks, including strong data encryption, multifactor
authentication, intrusion detection systems, and ongoing security monitoring. This paper also emphasizes
the value of educating and training financial institution staff members to increase cybersecurity resilience.
It underlines the significance of building a strong security culture, educating personnel about potential
dangers, and encouraging responsible management of client data. The study also explores the advantages
of financial organizations working together and exchanging threat knowledge. It examines industry
alliances, information-sharing platforms, and public-private partnerships as crucial methods for group
protection against cyber threats. This paper highlighted the significance of artificial intelligence and
machine learning in cybersecurity domain. It demonstrates how these technologies improve cybersecurity
systems' capabilities by spotting irregularities and potential attacks. It emphasizes the significance of
taking a proactive and dynamic strategy to securing client information and maintaining faith in the United
States’ financial sectors. Overall, this paper provides a thorough overview of cybersecurity tactics crucial
for protecting consumer data and avoiding financial fraud in the financial sectors across the United States.
By taking a vigilant, team-based, and technology-driven strategy, financial institutions may strengthen
their cyber defenses, protect the data of their clients, and defend the integrity of the financial system.
Cybersecurity Strategies for Safeguarding Customer’s Data and Preventing Fina...ijsc
As the financial sectors in the United States deal with expanding cyberthreats and a rising danger of financial crime, cybersecurity has become a top priority. This paper examines the crucial cybersecurity techniques used by financial institutions to protect client information and counter the growing risk of financial fraud. It proves that understanding common fraud tactics used to defraud financial institutions and customers, putting fraud detection and prevention techniques like anomaly detection and machine learning into practice, and using transaction monitoring and anti-money laundering tactics to spot and stop fraudulent activity are all necessary for preventing financial fraud. The paper begins by reviewing the common cyber dangers affecting the financial industry and the strategies used by cybercriminals to circumvent security precautions and take advantage of weaknesses. After looking at potential risks, the paper highlights the importance of proactive cybersecurity measures and risk mitigation techniques. It highlights crucial components of cybersecurity frameworks, including strong data encryption, multifactor authentication, intrusion detection systems, and ongoing security monitoring. This paper also emphasizes the value of educating and training financial institution staff members to increase cybersecurity resilience. It underlines the significance of building a strong security culture, educating personnel about potential dangers, and encouraging responsible management of client data. The study also explores the advantages of financial organizations working together and exchanging threat knowledge. It examines industry alliances, information-sharing platforms, and public-private partnerships as crucial methods for group protection against cyber threats. This paper highlighted the significance of artificial intelligence and machine learning in cybersecurity domain. It demonstrates how these technologies improve cybersecurity systems' capabilities by spotting irregularities and potential attacks. It emphasizes the significance of taking a proactive and dynamic strategy to securing client information and maintaining faith in the United States’ financial sectors. Overall, this paper provides a thorough overview of cybersecurity tactics crucial for protecting consumer data and avoiding financial fraud in the financial sectors across the United States. By taking a vigilant, team-based, and technology-driven strategy, financial institutions may strengthen their cyber defenses, protect the data of their clients, and defend the integrity of the financial system.
This document summarizes a presentation on cybersecurity risks and management practices. It outlines the evolution of cyber threats from less advanced in the past to more sophisticated today. Significant risks to businesses are identified as data theft, malware that destroys systems, denial of service attacks, and reputational attacks. Case studies show how even large companies can be vulnerable to attacks through a single weak point. The document then covers different types of security threats like hacking, phishing, man-in-the-middle attacks, and botnets. It emphasizes the need for senior management leadership on cybersecurity and outlines best practices for managing risks and measuring return on investment in security.
This document discusses insider threats in healthcare organizations. It defines an insider threat as a person with access to an organization's assets, information, or systems who could use that access to negatively impact the organization. The document outlines different types of insider threats including careless workers, malicious insiders, disgruntled employees, and third parties. It also discusses key risks, indicators of insider threats, real world examples, and methods for preventing, detecting, and responding to insider threats.
This document discusses cyber security threats and the role of internal audit in addressing them. It begins by outlining the current cyber security landscape, noting that threats are becoming more sophisticated and can have serious economic and national security consequences. It then discusses the role of internal audit in identifying key risks, understanding controls, evaluating fraud risks and controls, and promoting continuous improvement. The document provides examples of Boise Inc.'s internal audit approach, which includes maintaining strong IT audit staffing, collaborating across departments, monitoring the threat landscape, and leveraging digital forensic skills to investigate incidents.
The global cyber threat continues to rise rapidly, with 7.9 billion records exposed in data breaches in the first 9 months of 2019 alone, more than double the number from the same period in 2018. Medical services, retailers and public entities experienced the most breaches. With cyber threats expected to continue increasing, worldwide cybersecurity spending is predicted to reach $133.7 billion by 2022. Governments have provided frameworks and guidance to help organizations implement effective security practices to address proliferating cybercrime, attacks, and terrorism.
This document discusses cyber security trends based on data collected by IBM from monitoring over 3,700 clients in 130+ countries. Some key points:
- On average, organizations experience 73,400 attacks, 90 security incidents, and 81.9 million security events annually.
- Manufacturing and finance face the most incidents, accounting for nearly 50% of incidents.
- Malicious code and sustained probes/scans make up over 60% of incident categories. Most incidents are attributed to end-user error and misconfigured systems.
- Opportunistic attacks motivated by opportunity account for nearly 50% of attackers. Outsiders instigate around half of all attacks.
Cyber Liability - Insurance Risk Management and PreparationEric Reehl
See how Adaptive Solutions is delivering leading cyber risk management solutions through its strategic alliance with Willis Towers Watson and Darklight Technologies.
This document provides a risk assessment report on the 2014 data breach at JPMorgan Chase based on the ISO 31000 framework. It summarizes the breach which compromised 83 million customer records, identifies stakeholders, assesses risks, and provides strategic recommendations. The key risks identified are operational, strategic, financial and legal. Recommendations focus on improved controls, authentication measures, and cooperation between the bank and external partners to prevent future breaches.
Cyber-criminals are assaulting every part of the enterprise. But not all cyber-attacks are created equal. In the minds of senior executives, the greatest danger of cyber-attacks is damage to the reputation of the firm with its customers.
2021 Cybersecurity Recap: How Did We Fare Last Year? XNSPY
Cyberattacks, as it seems, are growing almost exponentially every year. the state of online attacks, c, and security flaws seem to be never-ending, and individuals and businesses have had to adopt regularly to combat these issues. the year 2021 has seen its fair share of cyberattacks and spying but, as the tech industry makes contingency plans to deal with them, we ought to know what the greater picture looked like and how to prepare in the new year.
The document provides a risk assessment of JPMorgan Chase following a 2014 data breach that compromised 83 million customer records. It identifies stakeholders, assets, and six main risks: 1) Inadequate controls allowing external access to data and systems, 2) Lack of customer data monitoring enabling long intrusions, 3) Slow technology adaptation leaving the bank vulnerable, and 4) Inefficient security communication. For each risk, drivers are analyzed and current/planned mitigations are described, such as access controls, third-party oversight, training, and a security-focused culture. The assessment follows the ISO 31000 risk management framework.
Many of the early adopters of cyber risk transfer were based in the US, (owing to the extremely strict legal requirement to notify all customers affected by a data breach). However recent developments are showing that cyber risks are not just a US problem. The past 18 months Aon has seen a dramatic increase in the number of companies outside the US purchasing cyber risk transfer.
The frequency and impact of cyber attacks have escalated cybersecurity to the top of Board agendas. Institutions are no longer asking if they are vulnerable to cyber attacks. Instead, the focus has shifted to how the attack might be executed, risks and impact. Most importantly, their organisational readiness and resilience to such threats.
The new MFA security gap deciphered — Real-world guide on how to fix it For C...Elena Barkovskaya
> Why do over 50% of small businesses don't have any security system in place?
>> What are the Top action vectors in breaches?
>>> What is the threat to small businesses?
>>>> Why 2FA doesn't work anymore?
>>>>> What are the most reliable Online Fraud Detection Technologies?
We prepared this White Paper to give SMBs clear & helpful answers on how to better protect their customers' accounts from online fraud in 2024.
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Dell Technologies provides cybersecurity solutions to help clients assess their security posture, define a cybersecurity strategy, implement security measures, and respond to and recover from attacks. The document discusses the growing threat landscape and common types of cyberattacks. It then outlines Dell's security methodology and portfolio of assessment, managed service, and product solutions to help clients define a strategy, implement controls, and respond to incidents. The solutions are meant to deliver outcomes like defined strategies, advanced protection, risk management and operational resilience.
The document summarizes technical details about ShadowPad, a modular cyber attack platform deployed through compromised software. It describes how ShadowPad operates in two stages, with an initial shellcode embedded in legitimate software that connects to command and control servers. The second stage acts as an orchestrator for five main modules, including for communication, DNS protocols, and loading additional plugins. Payloads are received from the C&C server as plugins and can perform data exfiltration.
The Center for Democracy & Technology filed a complaint with the Federal Trade Commission requesting an investigation into Hotspot Shield VPN's data sharing and security practices. The complaint alleges that Hotspot Shield makes strong claims about not tracking or logging user data, but its privacy policy describes more extensive logging. It is also alleged that Hotspot Shield uses third-party tracking libraries to facilitate targeted advertisements, contradicting its promises of privacy and security.
Nexusguard d do_s_threat_report_q1_2017_enAndrey Apuhtin
This document provides a summary of DDoS attack trends in Q1 2017 according to Nexusguard's analysis. Key findings include a 380% increase in attacks compared to the previous year, with unusually large attacks on holidays such as Chinese New Year and Valentine's Day. HTTP floods became the most common attack vector. The US was the top source of attacks globally, while China was the top source in the Asia-Pacific region. Larger and more complex multi-vector attacks targeting both volumetric and application layers became more common.
This document provides a summary of CLDAP reflection DDoS attacks observed by Akamai between October 2016 and January 2017. It details the attack methods, timelines, largest attacks observed, affected industries, source distributions by country and ASN, mitigation recommendations including filtering port 389, and conclusions regarding CLDAP reflection as an emerging DDoS vector.
This document provides a technical analysis of Pegasus spyware samples found on Android devices. Pegasus for Android (called Chrysaor) shares many capabilities with the iOS version, including exfiltrating data from apps, remote controlling devices via SMS, audio surveillance, screenshot capture, and disabling system updates. It uses known Android exploits to gain root access and SMS, HTTP, and MQTT for command and control. The spyware is designed to evade detection and delete itself if detected. Analysis of the samples revealed how the malware infects devices, communicates with its operators, and surreptitiously collects information from infected phones.
This document summarizes a study on zero-day vulnerabilities and exploits. The study obtained rare access to data on zero-day vulnerabilities and exploits to analyze metrics like life status, longevity, collision rates, and development costs. Some key findings include: 1) exploits have an average lifespan of 6.9 years after discovery before being patched, but 25% will last less than 1.5 years and 25% will last over 9.5 years, 2) after 1 year, approximately 5.7% of vulnerabilities in a stockpile will be discovered and disclosed by others, and 3) once an exploitable vulnerability is found, the median time to develop a working exploit is 22 days. The results provide insights to inform policy debates on
The APWG recorded more phishing in 2016 than in any previous year. In the 4th quarter of 2016, there were over 277,000 unique phishing sites detected, representing a 65% increase in total phishing attacks for 2016 compared to 2015. Phishing attacks have increased dramatically over the past 12 years, with an average of over 92,000 attacks per month in the 4th quarter of 2016 compared to just 1,600 attacks per month in the 4th quarter of 2004. Fraudsters in Brazil are increasingly using social media and mobile apps to defraud users in addition to traditional phishing techniques, though many of the hosting infrastructure for these attacks are located outside of Brazil, particularly in the United States and
This document contains a list of websites categorized into different areas of interest: finance, gambling, e-commerce, dating, and other. Over 50 websites are listed related to online payment processing, gambling sites, major retailers, social media, travel, and dating platforms. The list appears to have been compiled from someone's browser history.
The document lists processes and components of different point of sale (POS) software, including BrasilPOS, cch tax14, cch tax15, AccuPOS, Active-Charge, ADRM.EndPoint.Service, AFR38, Aireus, Aldelo, alohaedc, APRINT6, Aracs, aRPLUSPOS, ASTPOS, AxUpdatePortal, barnetPOS, bt, BTFULL, callerIdserver, CapptaGpPlus, CashBox, CashClub, CashFootprint, and Catapult.
Processes and components antivirus lists the executable files and processes associated with major antivirus software programs. It includes the process names for antivirus programs from companies like Avast, AVG, Avira, ClamWin Antivirus, ESET, F-Secure, GData, GFI Antivirus, Kaspersky, MalwareBytes Antivirus, McAfee, Microsoft, Panda, Sophos, Symantec, Trend Micro, and WebRoot Antivirus. The list provides information on the core processes used by antivirus software to scan for malware, monitor systems for infections, and provide protection.
The document analyzes the prevalence and security impact of HTTPS interception by middleboxes and antivirus software. The researchers developed techniques to detect interception based on differences between the TLS handshake and HTTP user agent. Applying these techniques to billions of connections, they found interception rates over an order of magnitude higher than previous estimates, and that the majority (97-62%) of intercepted connections had reduced security, with 10-40% vulnerable to decryption. Testing of interception products found most reduced security and many introduced severe vulnerabilities. The findings indicate widespread interception negatively impacts security.
This bill directs the Administrator of the National Highway Traffic Safety Administration to conduct a study to determine appropriate cybersecurity standards for motor vehicles. The study would identify necessary isolation, detection, and prevention measures to protect critical software systems. It would also identify best practices for securing driving data. The Administrator would submit a preliminary report within 1 year and a final report within 6 months, including recommendations for adoption of standards and any necessary legislation.
A former employee of the Federal Reserve Board installed unauthorized software on a Board server to earn bitcoins through the server's computing power. The employee modified security safeguards to remotely access the server from home. When confronted, the employee initially denied wrongdoing but later remotely deleted the software to conceal actions. Forensic analysis confirmed the employee's involvement, resulting in termination and a guilty plea to unlawful conversion of government property. The employee was sentenced to 12 months probation and a $5,000 fine.
Microsoft released patches for over 100 vulnerabilities in Windows, Internet Explorer, and Edge in 2016. While the number of vulnerabilities exploited in Internet Explorer before patching declined, no vulnerabilities in the newer Edge browser were exploited. Windows 10 introduced new security features like Attack Surface Reduction that remove vulnerable components. Over 60 vulnerabilities were also patched in various Windows user-mode components, with remote code execution being the most common type.
Muddy Waters Capital is short St. Jude Medical due to serious cybersecurity vulnerabilities identified in STJ's implantable cardiac devices. Researchers were able to replicate attacks that could cause devices to malfunction dangerously or drain batteries. The vulnerabilities stem from a lack of security protections in STJ's device ecosystem, including hundreds of thousands of home monitoring units distributed without adequate safeguards. A cardiologist is advising patients to unplug monitors and delaying implants until issues are addressed, which could take STJ at least two years to remediate through a recall and system rework. The cybersecurity risks may result in litigation if exploits endanger patients.
This document summarizes a workshop held by the FTC on privacy and security issues related to the Internet of Things (IoT). The IoT refers to everyday objects that can connect to the internet and send/receive data. The workshop discussed both benefits and risks of the IoT. Benefits include connected medical devices and home automation. However, risks include security vulnerabilities and privacy issues from collection of personal data over time. Workshop participants debated how fair information practices like data minimization, security, notice and choice should apply. The FTC staff recommends best practices for companies developing IoT products, including security by design and reasonable data collection and retention limits.
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Lots of bloggers are using Google AdSense now. It’s getting really popular. With AdSense, bloggers can make money by showing ads on their websites. Read this important article written by the experienced designers of the best website designing company in Delhi –
React Native vs Flutter - SSTech SystemSSTech System
Your project needs and long-term objectives will ultimately choose which of React Native and Flutter to use. For applications using JavaScript and current web technologies in particular, React Native is a mature and trustworthy choice. For projects that value performance and customizability across many platforms, Flutter, on the other hand, provides outstanding performance and a unified UI development experience.
introduction of Ansys software and basic and advance knowledge of modelling s...sachin chaurasia
Ansys Mechanical enables you to solve complex structural engineering problems and make better, faster design decisions. With the finite element analysis (FEA) solvers available in the suite, you can customize and automate solutions for your structural mechanics problems and parameterize them to analyze multiple design scenarios. Ansys Mechanical is a dynamic tool that has a complete range of analysis tools.
What is OCR Technology and How to Extract Text from Any Image for FreeTwisterTools
Discover the fascinating world of Optical Character Recognition (OCR) technology with our comprehensive presentation. Learn how OCR converts various types of documents, such as scanned paper documents, PDFs, or images captured by a digital camera, into editable and searchable data. Dive into the history, modern applications, and future trends of OCR technology. Get step-by-step instructions on how to extract text from any image online for free using a simple tool, along with best practices for OCR image preparation. Ideal for professionals, students, and tech enthusiasts looking to harness the power of OCR.
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1. Security trends in the
financial services sector
With money and data both at stake, 2016’s
leading attack target remains a magnet
for cybercrime
IBM X-Force®
Research
Click here to start ▶
2. 2
◀ Previous Next ▶
Executive overview
The financial services sector has been a magnet for
cybercrime for over two decades now, and that was
certainly true again in 2016. As revealed in the 2017
IBM X-Force Threat Intelligence Index, the sector
was attacked more than any other industry, with
the average financial services client organization
monitored by IBM Security Services experiencing
65 percent more attacks than the average client
organization across all industries (see Figure 1).
Moreover, 2016 saw an average 29 percent increase
in attacks on financial services organizations—up
from 1,310 attacks in 20151
to 1,684 in 2016.
Amid these negative findings, there were however
some good tidings. The average financial services
client we monitored experienced 192 security
incidents in 20152
, but only 94 in 2016. A “security
incident” is our most serious classification, so this
is indeed welcome news.
Contents
Executive overview
1 • 2
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
Across all
industries
54,681,413
Events
1,019
Attacks
93
Incidents
Financial
services
101,988,746
Events
1,684
Attacks
94
Incidents
Figure 1. Average client organization monitored by IBM Security Services, 2016 cross-industry versus financial services
comparison. (See sidebar “Definition of terms” for definitions of security event, attack and security incident.)
Definition of terms
Security event: Activity on a system or
network detected by a security device
or application.
Attack: A security event that has been
identified by correlation and analytics
tools as malicious activity that is
attempting to collect, disrupt, deny,
degrade or destroy information system
resources or the information itself.
Security incident: An attack or security
event that has been reviewed by IBM
security analysts and deemed worthy of
deeper investigation.
3. 3
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Unfortunately, the good news may end here.
IBM®
X-Force®
malware researchers investigating
cybercrime trends and financial malware
campaigns found that some countries experienced
a marked increase in financial cybercrime in 2016.
Cyber gangs continued to sharpen their focus
on business bank accounts, a trend that began
picking up speed in mid-2014, using malware such
as Dyre, Dridex, GozNym and TrickBot to target
business banking services.
2016 also saw a notable rise in publicly reported
Society for Worldwide Interbank Financial
Telecommunication (SWIFT) attacks against the
messaging system used by thousands of banks
and companies to move money around the world.3
The result was that millions of US dollars were
stolen and fraudulently transferred from various
global banks using custom malware to remove
traces of these transactions.
Combined with other analysis disclosed in
this report, these trends and incidents paint a
troublesome picture for the financial services sector.
Fortunately, financial services organizations can
strengthen their cybersecurity immune system with
a focus on mitigating notable security pain points
such as insider threats and financial malware.
Contents
Executive overview
1 • 2
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
About this report
This IBM X-Force Research report was created by the
IBM Managed Security Services Threat Research group, a
team of experienced and skilled security analysts working
diligently to keep IBM clients informed and prepared for the
latest cybersecurity threats. This research team analyzes
security data from many internal and external sources,
including event data, activity and trends sourced from
endpoints managed and monitored by IBM.
4. 4
◀ Previous Next ▶
A global view: publicly disclosed
financial incidents
IBM X-Force Interactive Security Incidents data is
a sampling of notable publicly disclosed incidents.4
Included are breaches, which are incidents
resulting in the exfiltration of data. As Figure 2
shows, there was no shortage of cyberattack-
induced financial ruin in 2016. Outages due to
distributed denial of service (DDoS) shut down
online financial institutions’ operations all over
the globe. Malware, including ransomware, was
responsible for millions in losses. One of the banks
targeted in the SWIFT attacks, had USD 81 million
stolen from their customers’ accounts.5
Attackers also turned to an old favorite from their
arsenal of phishing techniques, the Business Email
Compromise (BEC) scam, to trick unwitting victims
out of their money, an issue that hit the victim, but
also became an issue for the banks on either side
of a multi-million dollar fraud that’s hard to cover
by existing insurance. Aside from financial losses,
many compromises resulted in leaks of highly
sensitive financial data. In one bank compromise,
1.4GB of leaked data reportedly included internal
corporate files and customer financial data.6
With over 200 million records compromised in
2016—a 937 percent increase over the 2015 total of
just under 20 million—the financial services sector
ranked third among other industries in terms of
records breached. In terms of publicly disclosed
incidents tracked by IBM X-Force, recent year-over-
year totals have remained flat: 22 publicly disclosed
incidents in 2014, 21 in 2015, and 22 in 2016.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
1 • 2
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
5. 5
◀ Previous Next ▶
Contents
Executive overview
A global view: publicly
disclosed financial incidents
1 • 2
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
Belgium
BEC scam resulted in the
theft of 70 million euros in
fraudulent wire transfers8
Greece
Hactivists protesting global
corruption targeted banks
in Greece by disrupting
acceess for a full day
through DDoS attacks13
Cyprus
Hactivists shut down
a Cyprus bank website
as part of an ongoing
protest against banking
corruption14
Ukraine
Attackers exploiting the
international banking
system SWIFT stole USD
10 million from a bank15
Qatar
1.4 GB of data was leaked
from a Qatar bank including
intelligence reports on
people of interest12
Russia
High-volume DDoS attack
targeting several Russian
banks disrupted services
for several days16
Canada
Bitcoin exchange forced to
shut down operations after
constant DDoS attacks
over a three-year period11
UK
Over 9,000 customers had
money disappear from their
accounts, believed to be
the Retefe banking Trojan9
Bangladesh
USD 81 million stolen
through account takeover10
India
Several banks targeted
with LeChiffre
crypto-ransomware7
Figure 2. Notable 2016 publicly disclosed financial services security incidents. Source: IBM X-Force Interactive
Security Incidents data.
6. 6
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Where are the “bad guys”? Insiders
versus outsiders
Security executives and their teams deal with
numerous attacks every year. To prioritize defenses
and budgets they continually keep tabs on where
threats are coming from. Are they mostly external
attacks, or do insiders make up a large part of their
organization’s overall attack surface?
To discover whether an attack is coming from
inside or outside the organization, security
investigation teams first identify the source
and destination IPs as internal or external, then
further investigate the associated attack pattern
to determine malicious or inadvertent intent. IBM
Managed Security Services (MSS) 2016 data for
the financial services sector (see Figure 3) reveals
more insider than outsider attacks (58 percent to
42 percent) affected organizations, and within the
insider group, many more inadvertent actors (53
percent) were the culprits than malicious insiders
acting against the organization (5 percent).
Among the top five targeted industries—retail,
healthcare, manufacturing, financial services, and
information and communications—the 2017 IBM
X-Force Threat Intelligence Index reveals that in
2016 the financial services industry experienced
the highest level of threat from inadvertent actors.
It’s useful to think of an inadvertent actor as a
compromised system carrying out attacks without
the user being aware of it, as in the “Subvert
Access Control” attack type described in more
detail below. Often it happens when a desktop
client is compromised via malicious email
attachments, clickjacking or phishing, or vulnerable
computer services that have been attacked from
another internal networked system.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
Source of attacks against
financial services security clients
Outsiders 42%
Inadvertent
actors 53%
Malicious
insiders 5%
Insiders 58%
Figure 3. In 2016, insiders were responsible for more financial
services sector attacks than outsiders.
7. 7
◀ Previous Next ▶
Prevalent methods of attack in
financial services monitored clients
To classify and better understand the types
of threats that affect financial entities, X-Force
has grouped 2016 observed attack types
according to the standard set by the MITRE
Corporation’s CAPEC���
(Common Attack Pattern
Enumeration and Classification) effort (see
Figure 4). As described by MITRE, their system
“organizes attack patterns hierarchically based
on mechanisms that are frequently employed in
exploiting a vulnerability.” The only exception is the
“Indicator” category, which describes conditions
and context of threats and attack patterns.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
1 • 2 • 3 • 4
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
Top attacks for monitored financial services security clients
Inject unexpected items
Subvert access control
Manipulate data structures
Collect and analyze information
Indicator
Abuse existing functionality
Manipulate system resources
Employ probabilistic techniques
Engage in deceptive interaction
51%
13%
13%
9%
6%
3%
3%
1%
<1%
Figure 4. Injection-type attacks were the clear leader in the financial services sector in 2016. Source: IBM Managed Security
Services data, January 1 – December 31, 2016.
8. 8
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Further details on each attack type appear in the
following sections.
Inject unexpected items
According to IBM MSS analysis of 2016 data, the
number one attack vector, involving the use of
malicious input data to attempt to control or disrupt
a system, targeted 51 percent of the financial
services clients monitored by IBM X-Force. That
figure was notably higher than the cross-industry
average of 42 percent.
Command injections, which include operating
system command injection (OS CMDi) and SQLi,
belong in this category. OS CMDi is also known
as “shell command injection,” after which the
now infamous and widely prevalent Shellshock
vulnerability is named. Shellshock activity, which
surged across all industries before its two-year
anniversary in September 2016, accounted for
just over a quarter of all attacks targeting financial
services organizations in 2016.
SQLi and OS CMDi are perhaps the most
popular attack vectors within this sector because
successful exploitation of these vulnerabilities
can provide attackers with the ability to read,
modify and destroy sensitive data. The personally
identifiable information (PII) in the databases of
financial institutions is highly valued by hackers
because they can sell it for a handsome profit
or hold it hostage, demanding that the financial
institution pay a ransom to get it back or prevent its
public disclosure.
Manipulate data structures
The number two attack vector involved attacks
in which the attacker attempted to gain
unauthorized access through the manipulation
of system data structures. As CAPEC™
states,
“Often, vulnerabilities [such as buffer overflow
vulnerabilities], and therefore exploitability of
these data structures, exist due to ambiguity
and assumption in their design and prescribed
handling.”17
The great majority of the attacks in this
category targeted buffer overflow vulnerabilities.
On a positive note, while the cross-industry client
average for attacks in this category is 32 percent,
the figure in the financial services sector, 13 percent,
is substantially lower. That might be because
attackers view this attack vector as less potentially
successful against financial services targets.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
1 • 2 • 3 • 4
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
9. 9
◀ Previous Next ▶
Subvert access control
The number three attack vector, accounting for 13
percent of attacks—substantially higher than the
cross-industry average of three percent—involved
attacks attempting to subvert access control
through the “exploitation of weaknesses, limitations
and assumptions in the mechanisms a target
utilizes to manage identity and authentication.”18
Most of the attacks we observed in this category
involved the exploitation of vulnerabilities in the
target’s client-server communication channel for
authentication and data integrity by leveraging the
implicit trust a server places in what it believes to
be a valid client.
Man-in-the-middle (MITM) attacks, in which
attackers attempt to intercept and relay messages
between two parties (people or systems), falls
under this category. This technique could allow an
attacker to steal the information going back and
forth or insert malicious code into the connection.
Some mobile banking apps have been found to
mishandle the way they transmit data, making them
vulnerable to MITM attacks.19
Collect and analyze information
Attacks focused on the collection and theft
of information made up nearly nine percent
of attacks targeting client devices. Most of
these involved fingerprinting, often viewed
as a kind of reconnaissance that gathers
information on potential targets to discover their
existing weaknesses. Essentially, an attacker
compares output from a target system to known
“fingerprints” that uniquely identify specific details
about the target, such as the type or version of its
operating system or an application. Attackers can
use the information to identify known vulnerabilities
in the target organization’s IT infrastructure and
better prepare their tactical plans.
Indicator
Note that “Indicator” is not a CAPEC™
mechanism
of attack. A cyberthreat indicator consists of
certain observable conditions as well as contextual
information about the condition or pattern. These
events, which accounted for six percent of all
attacks, could indicate either an attempted or a
successful attack on the target system. A large
percentage of the attacks involved targeted
systems experiencing 100 or more external pings in
a short time, which might indicate a compromised
internal host. If compromised, a host could be
attacking other targets or communicating with other
compromised hosts until detected and stopped.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
1 • 2 • 3 • 4
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
10. 10
◀ Previous Next ▶
Abuse existing functionality
Three percent of attacks involved attempts to
abuse or manipulate “one or more functions of an
application in order to achieve a malicious objective
not originally intended by the application, or to
deplete a resource to the point that the target’s
functionality is affected.”20
Successful attacks in
this category could allow the attacker to obtain
sensitive information or cause a denial of service,
as well as execute arbitrary code on the target.
Manipulate system resources
Attacks attempting to manipulate some aspect of
a system’s resource state or availability accounted
for three percent of all attacks. Resources include
files, applications, libraries and infrastructure, and
configuration information. Successful attacks in this
category could allow the attacker to cause a denial
of service, infect a machine to become a botnet
command-and-control (C&C) server, or execute
arbitrary code on the target.
Employ probabilistic techniques
One percent of attacks involved an attacker
using what CAPEC™ describes as “probabilistic
techniques to explore and overcome security
properties of the target.”21
Most of the activity
involved brute-force password attacks, a tactic
in which an intruder tries to guess a username
and password combination to gain unauthorized
access to a system or data. Most of the attacks
observed by X-Force targeted the Secure Shell
(SSH) service. Users favor SSH because it can
provide secure remote access. The downside is
that it can provide attackers with shell account
access across the network.
Engage in deceptive interaction
Less than one percent of attacks made attempts
to convince a victim to perform an action through
spoofing, such as in a clickjacking attack. In this
type of attack, the attacker attempts to hijack the
victim's click actions and possibly launch further
attacks against the victim.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
1 • 2 • 3 • 4
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
11. 11
◀ Previous Next ▶
Recommendations and mitigations
Never neglect training and refreshing
employee awareness
Foster awareness regarding BEC scams and
other phishing scams through education. A variety
of approaches—video, webinars, in-person
instruction—can be used to educate employees.
Programs that simulate phishing attacks could
test employees at regular intervals. Encourage
employees to report suspicious emails for
further investigation.
Apply a cognitive approach to detecting
phishing sites
The financial services industry experienced
a relatively high percentage of attacks from
inadvertent actors or those that unwittingly
introduced threats to the target organization’s
environment. Falling victim to spear phishing is one
of the inadvertent actor’s biggest weaknesses.
They have the power to lure employees to either
download malware, opening the first door to the
attackers, or lead them to a fake website where
their corporate credentials will be stolen.
According to IBM X-Force data, 70 percent of
credentials are stolen in the first hour of a phishing
attack.22
In order to react to a phishing attack
quickly and accurately, machine learning and
cognitive computing need to be incorporated
to help boost the speed and scale of phishing
detection and protection. A cognitive engine
capable of helping detect relevant phishing attacks
as they emerge and then alerting customers about
it is now available in IBM Trusteer Rapport®
.
The new cognitive engine analyzes unstructured
data from suspicious websites, including links,
images, forms, text, scripts, DOM data and URLs.
It can accurately identify a wide variety of phishing
pages, including those that only present users with
an image to elude content analysis and those that
deliver dynamic content to the page to evade web
crawlers. By analyzing text, wording and logos
used on a site, it can further point out the targeted
brand(s) with accuracy and discern whether the
use of a logo is legitimate or suspicious.
Further reduce exposure to insider threats
Mitigating phishing attempts is key to reducing
the threat from inadvertent actors. However, to
further reduce exposure to insider threats, financial
services organizations must combine data security
and identity and access management solutions to
protect their sensitive data and govern the access
of all legitimate users.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
1 • 2
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
12. 12
◀ Previous Next ▶
The more users have access to sensitive
information, the greater the chance that someone
will put it at risk, either maliciously or mistakenly.
Companies must ensure they are limiting access
to only those users who absolutely need it, and
that controls stay current as the user population
changes and evolves over time. Similarly, the more
easily accessed the information is, and the more
places it resides, the greater the chances that an
insider, or an outsider with stolen credentials, will
be able to gain access to it for the wrong reasons.
Solutions that include an identity manager and
account-provisioning component, such as IBM
Security Privileged Identity Manager, can help an
organization centrally manage and audit the use of
privileged IDs across different scenarios. Solutions
like IBM Security Guardium®
can help ensure that
sensitive data is appropriately protected.
Solutions such as IBM Surveillance Insight for
Financial Services that adopt a proactive approach
towards managing risk of non-compliant employee
behavior are essential. Solutions able to ingest
unstructured data—such as chat transcripts,
email communications and voice recordings—and
combine it with structured trade transaction data
create a more robust unified surveillance system.
Augment cyber security intelligence capabilities
Security intelligence, a must across all industry
sectors, is especially important in the financial
services sector. It’s critical that organizations
understand the attack vectors to which they are
most vulnerable. Having this knowledge can help
financial services companies stay one step ahead
of criminals and bolster internal and external
detection and protection mechanisms.
But how do security operations teams keep
pace with the myriad of threats and ever-growing
number of attacks targeting their organizations?
Keeping up with threat intelligence is a vital part of
risk awareness. With that, the speed of threat data
far exceeds human capability. Even the most skilled
security professionals can have difficulty sifting
through the sheer volume of security incidents
and available threat data. A solution that combines
cognitive capabilities and analytics, such as IBM
QRadar®
Advisor with Watson®
, augments a
security analyst's ability to identify and understand
sophisticated threats by tapping into unlimited
amounts of unstructured data from blogs, websites,
research papers and the like, and correlating it with
relevant security incidents.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
1 • 2
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
13. 13
◀ Previous Next ▶
Protect your enterprise while
reducing cost and complexity
From infrastructure, data and application protection
to cloud and managed security services, IBM
Security Services has the expertise to help
safeguard your company’s critical assets. We
protect some of the most sophisticated networks
in the world and employ some of the best minds in
the business.
IBM offers services to help you optimize your
security program, stop advanced threats, protect
data and safeguard cloud and mobile. Security
Intelligence Operations and Consulting Services
can assess your security posture and maturity
against best practices in security. With IBM
X-Force Incident Response and Intelligence
Services, IBM experts proactively hunt and
respond to threats, and apply the latest threat
intelligence before breaches occur. With IBM
Managed Security Services, you can take
advantage of industry-leading tools, security
intelligence and expertise that can help you
improve your security posture—often at a fraction
of the cost of in-house security resources.
About IBM Security
IBM Security offers one of the most advanced
and integrated portfolios of enterprise security
products and services. The portfolio, supported
by world-renowned IBM X-Force research,
provides security intelligence to help organizations
holistically protect their people, infrastructures,
data and applications, offering solutions for identity
and access management, database security,
application development, risk management,
endpoint management, network security and more.
IBM operates one of the world’s broadest security
research, development and delivery organizations,
monitors billions of security events per day in more
than 130 countries, and holds more than 3,500
security patents.
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
14. 14
◀ Previous Next ▶
About the author
Michelle Alvarez, a Threat
Researcher and Editor for IBM
Managed Security Services,
brings more than 10 years of
industry experience to her
role. Michelle is responsible for researching and
analyzing security trends and developing and
editing security and threat mitigation thought
leadership papers. She joined IBM through the
Internet Security Services (ISS) acquisition in 2006.
At ISS she served as an analyst and contributed
to the development of the X-Force Database, one
of the world's most comprehensive threats and
vulnerabilities database. For many years, Michelle
played an important operational role within the
Information Technology-Information Sharing and
Analysis Center (IT-ISAC), a non-profit, limited
liability corporation formed by members within
the information technology sector. She is a regular
contributor to the IBM-sponsored security blog,
SecurityIntelligence.com, and has her master’s
degree in information technology.
For more information
To learn more about the IBM Security portfolio,
please contact your IBM representative or IBM
Business Partner, or visit:
ibm.com/security
For more information on security services, visit:
ibm.com/security/services
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Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References
15. 15
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1
https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=
SE912353USEN
2
https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=
SE912353USEN
3
http://money.cnn.com/2016/05/20/news/swift-bank-attack-
global-ecuador/
4
http://www-03.ibm.com/security/xforce/xfisi/
5
https://www.wired.com/2016/05/insane-81m-bangladesh-bank-
heist-heres-know/
6
http://www.bankinfosecurity.com/qatar-national-bank-suffers-
massive-breach-a-9068
7
http://news.softpedia.com/news/lechiffre-ransomware-hits-three-
indian-banks-causes-millions-in-damages-499350.shtml
8
http://www.net-security.org/secworld.php?id=19370
9
http://www.independent.co.uk/news/business/news/tesco-bank-
accounts-suspended-transactions-access-frozen-hack-money-
la-a7402006.html
10
http://thehackernews.com/2016/04/bank-firewall-security.html
11
https://www.hackread.com/bitcoin-exchange-ddos-attacks/
12
http://www.databreachtoday.com/qatar-national-bank-suffers-
massive-breach-a-9068
13
https://www.hackread.com/anonymous-ddos-attack-bank-
greece-website-down/
14
https://www.hackread.com/oplcarus-hacktivists-ddos-central-
bank-of-cyprus/
15
http://thehackernews.com/2016/06/ukrainian-bank-swift-hack.html
16
http://www.theregister.co.uk/2016/11/11/russian_banks_ddos/
17
https://capec.mitre.org/data/definitions/255.html
18
https://capec.mitre.org/data/definitions/225.html
19
http://news.softpedia.com/news/76-ios-apps-including-medical-
and-banking-tools-are-exposing-data-to-hackers-512693.shtml
20
https://capec.mitre.org/data/definitions/210.html
21
https://capec.mitre.org/data/definitions/223.html
22
https://securityintelligence.com/hey-phishing-you-old-foe-catch-
this-cognitive-drift/
Contents
Executive overview
A global view: publicly
disclosed financial incidents
Where are the “bad guys”?
Insiders versus outsiders
Prevalent methods of
attack in financial services
monitored clients
Recommendations
and mitigations
Protect your enterprise
while reducing cost
and complexity
About IBM Security
About the author
References