Financial Services Cybersecurity Weekly Briefing 04-06-2018

Weekly FS Cybersecurity Blast

Weekly FS Cybersecurity Blast

Financial Cyber Survey
Marcin Swiety, Global Head of Luxoft’s Information Security practice, says: “IT departments in banks are being pulled in two directions. Banks want to focus on digital innovation, but IT professionals feel unable to escape from the ever-present cyber threat. Budget cuts are leaving smaller teams with fewer spare hours in the day. Unable to plan ahead, they spend their days firefighting problems and upgrading legacy systems.”

 

Financial Services Cybersecurity Systems and Services Market: Rise in Cyber Theft to Bolster Growth
On the basis of geography, the world financial services cybersecurity systems and services market is projected to be classified into regions such as the Middle East and Africa (MEA), Asia Pacific except Japan (APEJ), Europe, Latin America, and North America and countries such as Japan. Out of these geographical markets, North America could take the driver’s seat while expanding at a 15.8% CAGR. The attractiveness of this regional market could continue to reign until the end of the forecast period.

 

Human Error Led to 424% Increase in Misconfigured Cloud Servers, Prompting Hacks
Human error has long been associated with poor cybersecurity hygiene, but it’s starting to negatively impact other aspects of the tech ecosystem. Due to employee mistakes, the number of records breached through misconfigured cloud servers rose by 424% in 2017, according to the 2018 IBM X-Force Threat Intelligence Index, released Wednesday. An IBM press release called it an “historic” jump. Additionally, nearly 70% off the compromised records tracked by IBM in 2017 were exposed due to one of these misconfigured servers, the release noted. In keeping with the theme of human error, roughly a third of the “inadvertent activity” that led to a security event last year was due to someone getting phished. Millions of spam messages that led to some of these incidents were created with the Necurs botnet, a favorite of hackers in 2017, the report said.

 

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