Financial sector must be prepared for more sophisticated threats

The increased security measures that most financial organizations now have in place have caused hackers targeting the financial sector to up the ante, deploying more sophisticated malware.  This new breed of malware avoids detection by signature-based tools and is often able to evade dynamic analysis to operate in stealth mode within the network.  The majority of the malware is being delivered via Microsoft Office based documents and rich text format files.

The Ponemon Institute found the average number of breaches for financial firms has more than tripled from 40 back in 2012 to 125 reported incidents in 2017, and insurer AIG identified the financial sector as being at highest risk for a systemic cyber attack.

To remain ahead of emergent threats financial organizations and finance groups at enterprise need to incorporate cybersecurity controls for inspecting the behavior of objects entering the internal environment rather than relying simply on existing technologies and user awareness.  Security monitoring and alerting with threat analysis in real-time can provide an extra layer of  cyber protection by turning the information in existing system logs into actionable intelligence to help financial clients to detect suspicious network behavior and stop attacks.

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