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Security Under Banking sector

While every industry has its own level of vulnerability to cyber threats, the banking and financial services sector remains a soft target for cyber-attacks. The financial sector processes and stores extremely sensitive and valuable data such as Personally Identifiable Information (PII) check routing data, and stock and investment algorithms. Moreover, as financial organizations evolve by adopting new digital channels, automation, and other advanced technologies, they are navigating a landscape marked by several cyber risks. As a result, Banking and Financial Institutes (BFIs) must be committed to maintaining data confidentiality and integrity in order to provide the best possible service to their clients.

Open issue under banking and finance Industries

A large portion of a bank's or financial institution's operations are conducted using technology, including the Internet. Your bank's sensitive data could be compromised if solid cybersecurity measures are not in place. The following are some of the most serious threats to a bank's cyber security.

Recent Cyber-Attacks

US Insurance Firm CNA Hit by Cyberattack

On March 21, 2021, CNA Financial suffered a ransomware attack which disrupted the company’s employee and customer services for three days. The insurance company engaged third-party forensic experts and also alerted law enforcement to begin further investigations.

Ploutus Variant Targets ATMs in Latin America

On March 02, 2021, a cybersecurity firm disclosed a new variant of the malware Ploutus which has been targeting aging ATM devices produced by Itautec. Ploutus-I operates by communicating directly with XFS to command the ATMs to disgorge cash.

Reserve Bank of New Zealand Data Breach

The Reserve Bank of New Zealand suffered a data breach after actors illegally accessed its information through one of the bank's third-party file sharing services. The Bank is now actively seeking a new platform to replace the previously compromised file sharing service.

Framework for Security Establishment

StepToSecure is an IT Security Services and Solutions Provider based in India that assists financial institutions in implementing security strategies against advanced threats and targeted attacks. Our IT security professionals can assist you with issues such as insecure data storage, identity and access control, data and threat management, incident response, and more.

Security Framework

  • Implement Security training
  • Document security philosophy
  • Incident response plan
  • Application VAPT
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Compliance Management

  • Govt has come up with some regulations and standards to tackle security threats and avoid security breaches. Our team does the necessary assessment to ensure you are compliant with all of the security standards (NCSC, ACSC, FISMA etc).
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Advanced Threat Simulation

  • Red Team Assessment
  • Red Team vs Blue Team
  • Social Engineering
  • Phishing Campaign
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Continuous Threat Detection

  • Cloud Security Assessment
  • Code Review
  • Application VAPT
  • Network VAPT
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Our outcomes are rich in rigorous knowledge and easily understood by the Tech and Management Teams.

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Are you adhering safekeeping security?

Business handlers can protect themselves from numerous attacks by adhering right security policies.

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