In today’s business, sensitive data needs to be shared quickly and securely. The increasing requirement to collaborate on valuable information with users, whether they are local or remote, means that sensitive data will be consistently at risk. With the rising sophistication and frequency of threats, it’s become essential that information is secured no matter where it is, how it’s sent, or who it’s being shared with.
In the battle with security fraudsters, banks increasingly have to pull rabbits out of hats.
Just as the Industrial Revolution advanced methods and accelerated assembly from single to mass production in the 19th century, today’s cybercrime industry has similarly transformed and automated itself to improve efficiency, scalability, and profitability. The industrialization of hacking coincides with a critical shift in focus. Previously, hackers concentrated attacks on breaking perimeter defenses. But today, the goal has changed. The objective is no longer perimeter penetration and defense. To paraphrase a popular political slogan, “it’s the data, stupid.” Today’s hacker is intent on seizing control of data and the applications that move this data.
Subsequent attacks following the WikiLeak fall out caused a furor in the financial services industry. Lorna Davies asks: Is there anything organizations can do to protect themselves?
Last December, both MasterCard and Visa’s websites were sabotaged by supporters of WikiLeaks after the companies opted to no longer offer card processing services for those donating to the controversial organization. These high profile attacks, along with the WikiLeaks phenomenon overall, serve to illustrate how very vulnerable financial services organization actually are.