6 ways to become more resilient to cyber-security threats

by Sabine Vollmer | Sep 22, 2015   ()

Large banks have fairly strong cyber-security controls in place, but cyber-criminals are changing their strategy and the financial sector remains difficult to secure against cyber-attacks, according to aspecial report by Thomson Reuters’ risk management business.

Several large banks suffered cyber-attacks a year ago, including JPMorgan Chase, where intruders managed to compromise contact data of 76 million households and 7 million businesses, JPMorgan confirmed in filings with the US Securities and Exchange Commission.

Malicious attempts to make a network resource unavailable to users, also known as distributed denial-of-service attacks, remain a threat but have declined in the past four years. The threat that’s on the rise is data theft, as breaches at Fidelity Investments, Target, Sony, and Citi suggest. Using techniques, tactics, and procedures developed by high-level espionage groups, cyber-crime gangs aim these data theft attacks specifically at oil companies, the power industry, and banks, Thomson Reuters reported.

Source: CGMA Magazine
Source: CGMA Magazine

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