It is no surprise that banks and financial institutions are prime targets of cyberattacks. The Banking, Financial Services and Insurance sector encompasses a broad range of businesses providing exceptional value and deep confidence in the world’s economy.
With the change in time, the major shift in business is currently towards providing cost-effective ways to improve the business output, performance and deliver resilient, innovative products and services with enhanced user experience, to meet customer demands while retaining loyalty and trust.
As organizations transcend their services for deriving business value, they are navigating towards a landscape full of challenges.
Threats to this sector have always been complex and difficult to manage. This is primarily due to the information this industry holds. To manage this information, many specialised applications and diverse technologies were used which provided greater attack vectors for adversaries.
Let’s take a look at some of the threats that these companies face.
Capital One announced a massive data breach in late July, reporting that a hacker accessed the information of over 100 million Americans and 6 million Canadians who have applied for credit cards since 2005.
The attack on Barclays is a reminder that despite heavy investment in IT risk management, banks are still very vulnerable to cyber-attacks. In the breach, the attackers got the customers' personally identifiable information and personal health information
Thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer close to USD 1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh Bank.
The security approach taken by the companies in this sector needs to be overhauled, they need a reliable Cybersecurity Partner, someone who can provide round the clock and robust security, help achieve all your compliance needs and find and remove threats at their nascence. Here at WeSecureApp, we understand all these and can help you tackle all these challenges.
By performing periodic security assessments and penetration testing services to weed out any security threats a company will avoid data breaches and also manage their reputation.
Infrastructure security is the backbone of any enterprise. To ensure this, we try to simulate threat actors and achieve objectives by non-destructive methods.
We work with your internal teams to identify high-risk areas to create strategies to drive down the risk as opposed to remediating it as a one-off.
The Government has come up with some regulations and standards to tackle security threats and avoid security breaches. Our team does the necessary assessment to ensure you are compliant; be it HIPAA, GDPR, PCI-DSS, ISO, etc. We can help you get certified for any requisite certificates to ensure that you are working under a safer blanket.
Our deliverables are comprehensive in nature that addresses both technical and business audiences.
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