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Welcome to Our Presentation
Topic of our Presentation
Internet is a Threat in Financial Sector
INDEXIntroduction
Meeting the challenge of targeted attacks
Risk versus opportunity
Regulatory pressure versus actual risk
Threat intelligence is essential
Understanding targets and motivations
Consequences of a Data Breach
Implementing future-proof security
Governance: Integrating compliance with threat intelligence
Practices: An information-centric approach
Bridging legacy systems and high complexity infrastructure
Implementing best practices against targeted attacks
In the context of Bangladesh
Information Insecurities and Threats in BANGLADESHI Banks
Critical Findings And Analysis in Bangladesh.
Government Regulations on Information Security
Challenges in Ensuring Information Security
Conclusion
IntroductionAttacks against the finance industry are becoming increasingly sophisticated and highly targeted. Historically, a common method of targeting banks has been to direct email phishing at customers. Now, emerging channels, such as mobile and online banking, are opening new doors for cybercriminals. To decrease the effectiveness of such attacks, banks have improved both communications to, and the education of, customers, as well as rapidly reacting if an attack occurs.
According to the FBI, the latest trend by cybercriminals is to gain employee login credentials by using spam and phishing emails, keystroke loggers and remote access Trojans. Such attacks were seen in September 2012, when the Bank of America and Wells Fargo were among those struck.
• Meeting the challenge of targeted attacksOver 300,000 online Citibank accounts were compromised in a targeted hack of the organization’s network in 2011
According to the Symantec Internet Security Threat Report, targeted attacks use customized malware and attacks increased from an average of 77 per day in 2013 to 82 per day in 2014
50% of attacks focused on companies with less than 2,500 employees, and another 18% focused on organizations with less than 250 employees. So, it appears no organization is too small to escape the attention of attackers.
Risk versus opportunity
Social media
Mobile devices
Cloud
Security versus cost
Regulatory pressure versus actual risk
As regulatory pressure increases, the finance industry needs to comply, but there is a risk that this can divert focus from targeted attacks.
Threat intelligence is essential
Understanding targets and motivations
Attackers generally fall into three broad categories:
~ The financially motivated attacker ~ The espionage motivated attacker~ The politically motivated attacker
Consequences of a Data Breach
Managing a breach Impact on brand reputation
Regulatory fines
Implementing future-proof security Education of employees
Automation of processes
Improved real-time tracking and business intelligence
Multi-layer security
Managed security services
New technologies
Governance: Integrating compliance with threat intelligence
Practices: An information-centric approach
Bridging legacy systems and high complexity infrastructure
Implementing best practices against targeted attacks
1. Predictive threat analysis2. Employee training
3. Identity management4. Measurement and reporting
5. Test your plan
In the context of Bangladesh
(I) To identify the different dynamics, quality and areas
of use of information technology in the banks.
(ii) To Identify and investigate problems relating to
information security and threat in the banking sector.
(iii)To identify critical success factors for effective
information security with particular reference to the
banking sector.
Information Insecurities and Threats in BANGLADESHI Banks
Critical Findings And Analysis in Bangladesh.
Level of Use and Access of IT Platforms.Quality of Technology Used in Information
Management.Risk Analysis.Policies Used By Banks in Bangladesh.Government Regulations on Information Security.
Government Regulations on Information Security
Challenges in Ensuring Information Security
Lack of adequate knowledge.
Lack of Training.
No Adequate Preparedness.
Under-prioritization by the Government.
Not Updating Security System Regularly.
Human Resource Constraint.
Conclusion The finance industry is constantly fighting
cybercrime and, given the potential financial gain from a successful attack, this battle is likely to continue. However rigorous the security employed, exposure to new risks is inevitable. New technologies and services must be adopted to cope with competitive pressure and regulations must be complied with. Only by advancing the intelligence and analysis around attackers and their methods, can the industry hope to stay ahead.
Thanks to All
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