Financial services are one of the most targeted industries by hackers due to the extensive valuable information they hold – personal information, financial data, trade secrets, and intellectual property – and money. They are also subject to internal attacks.
Financial services include banking, insurance, financial markets, technology trading, asset management, private equity, hedge funds, and more.
What they all have in common is that they have confidential data they must protect.
CHALLENGES
- Unintentional data loss from insiders is most common
- Lack of efficient training on IT security policy leads employees more likely to process, handle and share data incorrectly, fall for phishing attempts, and violate corporate IT security policy
- People stealing data due to high competition between firms and turnover of employees despite security measures or outdated controls
- Financial services outsource operations to 3rd-party vendors for cost and efficiency. This opens them up to new risks, as they’re often given privileged access to sensitive data, applications, and systems, which makes them an insider risk. As 3rd parties might not have the same locked down IT environment in place, the financial services lack visibility to data exfiltrated from their systems
HOW WE CAN HELP YOU OVERCOME THESE CHALLENGES;
Due to the volume of sensitive information, financial services are also heavily regulated. Financial institutions must follow a proactive approach to ensure compliance and control effective.
Choose CYBANATICS to get the insight you need to protect valuable data, ensure compliance, identify and manage insider risks, block data exfiltration attempts from malicious insiders, and efficiently educate employees on IT security policies.
