Financial Services Cybersecurity Weekly Briefing 03-16-2018

Weekly FS Cybersecurity Blast

Weekly FS Cybersecurity Blast

Is the Financial Sector the Most Vulnerable to Cyber Attacks?
This raises serious questions about the foundations on which the financial services sector is built. As the push to embrace digital technologies continues, everyone in the sector – from big banks to Fintech disruptors – cannot lose sight of the need for security. The survey above acts as something of a cry for help from professionals who clearly feel we aren’t taking this seriously enough.

 

Cyber Risks to Your Finances Are Rising as Big Banks Rely on the Oligopoly of Big Tech
The idea of third-party tech-related vulnerability problems comes as banks undergo a great digital transformation, shuttering brick-and-mortar branches and pouring billions of dollars into technologies to manage and upgrade their businesses. The future for financial institutions involves mobile and online banking, as well as the potential use of artificial intelligence and automation to reduce costs.

 

North Korea Inflicts Financial Cyber Attack on Turkey
McAfee states that no money was stolen in the cyber attacks, but that these could be laying the groundwork for large-scale hacks on Turkey in the future. The crime, first detected between March 2 and March 3, used a sample in the “Bankshot” malware family. Bankshot can linger on networks and servers, allowing continued exploitation long after the initial infection.

 

Forensic Analysis of Digital Media – 4 Methods Explained
Imagine your computer getting infected with malware or getting compromised, and you suspect evidence of a crime that you’d like to see prosecuted. After taking the necessary steps to securely obtain a forensically-sound and legally-defensible image, we must conduct an analysis to determine the suspected series of events. While true forensic methodologies can be extremely time-consuming and complex, let’s discuss four of the most common techniques and methodologies used during an image analysis.

 

BankThink Government Needs to Rethink Cybersecurity Approach
Consider that if a major U.S. bank suffered an anthrax or missile attack, no one would ask its regulators to testify about the attack, and no one would expect them to write more regulations to prevent a recurrence. But if a major U.S. bank were to suffer a cyberattack, that is precisely what would happen — even though the most serious attacks now generally come from foreign actors, including nation states and foreign crime syndicates.

 

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