{"id":1645,"date":"2017-09-20T13:20:08","date_gmt":"2017-09-20T03:20:08","guid":{"rendered":"https:\/\/www.comlink.com.au\/?p=1645"},"modified":"2018-10-18T13:56:58","modified_gmt":"2018-10-18T03:56:58","slug":"financial-it-support-security-defence","status":"publish","type":"post","link":"https:\/\/www.comlink.com.au\/financial-it-support-security-defence\/","title":{"rendered":"Financial IT Support: 5 Ways Cybercriminals Infiltrate Your Security Defence"},"content":{"rendered":"

Previously, we talked about the impending risks of a single data breach to a Financial IT Support<\/a>. We discussed its repercussions, which we learned could turn into an avalanche and topple your business.<\/p>\n

Some may raise their eyebrows but there\u2019s one thing that we can all agree with:<\/p>\n

The Financial Services Industry is being preyed upon by worldwide cyber-attacks.<\/p>\n

Cybercriminals attack in packs like hungry wolves in the night without any form of notice. The most businesses can do is to harden their fences to keep the wolves out. These fences being the Financial IT Support.<\/p>\n

Verizon\u2019s 2016 Data Breach Investigation Report reveals that the Financial Services Industry is the most breached industry<\/a>. Making up 35% of the annually recorded breaches.<\/p>\n

Surprised?<\/p>\n

You shouldn\u2019t be. With nearly all businesses operating online, it\u2019s only logical to require a high-security protection around your system as you rely more on the efficiency of technology.<\/p>\n

Alongside the implementation of an advanced security measure, it\u2019s also important to be well educated of the different ways cyber attacks can penetrate your system.<\/p>\n

As a part of our Financial IT Support campaign, Comlink Solutions is here to teach the several ways on how cybercriminals operate their attacks. Learning the following and sharing this information to your staff can help mitigate the risks cyber-attacks.<\/p>\n

Financial IT Support: 5 Ways Cybercriminals Infiltrate Your Security Defence<\/strong><\/h2>\n
    \n
  1. \n

    Lack of User Training<\/h3>\n

    Roughly 156 Million phishing emails are being sent out every day.<\/a>
    \nThe average everyday internet user hardly could detect a phishing attack and scams when they encounter one.
    \nThink about it. Your staff could be walking head on to voluntarily exposing the vulnerabilities of your security without even knowing. As said in our previous phishing article,
    85% of organizations have suffered phishing attacks<\/a> and your business could be 6x more likely to click on a phishing email.
    \nEducating your staff about the regulations of your security will go a long way in protecting your data.<\/li>\n

  2. \n

    Insider Threats<\/h3>\n

    74% of global executives foresee negligent employees to be the most likely source of a cyber attack<\/a>.
    \nWithin the financial services, however,
    97% of U.S. financial organization respondents find insiders to be a critical risk to their systems<\/a>.
    \nBy insiders, we are defining the ones who have statutory access to your system… AKA the ones with designated usernames and passwords.
    \nWe\u2019re not specifically talking about the malicious staffs alone. This could range from bad intentions to misplacing the credentials to outsiders.<\/li>\n

  3. \n

    Web Applications<\/h3>\n

    Every business must adapt to extending their operations online. Not only with their internal business process but also to connect easier with their clients. Payments, account inquiries, brokerage, and more client operations are now typically accessed by visiting a business\u2019 online portal.
    \nThis technology is not a luxury but rather a requirement for a business to thrive. But this adaption could also mean higher risk exposure to cyber attacks.
    \nIn fact, according to the same report by Verizon, 82% of financial data breaches can be rooted from web application attacks. 62% of these involve ineffective and hijacked passwords.
    \nThe first line of defense against these types of attack is by implementing a web application firewall<\/u>. You can contact your Financial IT Support for information on web firewalls and more ways to mitigate the risks of web applications.<\/li>\n

  4. \n

    Data Breach<\/h3>\n

    Most cybercriminals can breach your Financial IT Support in less than an hour. 86% of these reported cases, in fact, have compromised a system in minutes. 12% of them hacked it in just seconds.
    \nAnd how long will it take for the business to discover a system breach?
    \n54% of victims discovered the breach weeks after the incident. 15% even took solid months.
    \nThis is a clear sign that attackers can easily hack your system and extract any specific data with more than enough time needed to clean the crime.
    \nThe best way to counter a cybercriminal\u2019s advanced technology is to commit to a Financial IT Support with data masking and activity monitoring.
    \nYour Financial IT Support will install its own database activity monitoring to supervise your business\u2019 online activity 24x7x365. Any odd activities from vulnerable devices will be automatically picked up. It\u2019s then followed by replacing the confidential information with counterproductive ones (data masking) to deceive cybercriminals.<\/li>\n

  5. \n

    Distributed Denial of Services<\/h3>\n

    Distributed Denial of Services (DDoS) reportedly ranked as the second largest security incident from the financial industry, falling second from web attacks. Last year, DDoS accounted for 34% of all the reported cases (with web application reaching 48%).
    \nUnlike most of the aforementioned threats, a DDoS attack usually doesn\u2019t attempt to hijack your security. Its goal, however, is to immobilize your website and servers to all users. On planned operations, DDoS is used to lower a business\u2019 overall security \u2013 acting as a distraction before proceeding to data breaching.
    \nConsult your Financial IT Support for a developed proactive DDoS protection to defend your security system from all unwanted DDoS attacks.<\/li>\n<\/ol>\n

    The threats on the Financial services continue to evolve as technology improves. The consequences could mean not only the cost of per record breached but ultimately the reputation of your business (as we\u2019ve discussed on our previous article).<\/p>\n

    This proves that businesses should not only stay stagnant and comfortable with their existing security \u2013 no matter how advanced it is today. Rather, you should be proactive in finding ways to be one, two, and even three steps ahead of these expert cybercriminals.<\/p>\n


    \n

    Comlink Solutions<\/a> has been a reputable leader for IT Services and Management in Sydney for over 17 years. It has developed its own technology for Financial IT Support <\/a>and among all other industry. Being reliable, efficient, and friendly, we provide comprehensive business and technology consulting services that can help your financial or non-financial business leverage its IT investments.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Previously, we talked about the impending risks of a single data breach to a Financial IT Support. We discussed its repercussions, which we learned could turn into an avalanche and topple your business. Some may raise their eyebrows but there\u2019s one thing that we can all agree with: The Financial Services Industry is being preyed […]<\/p>\n","protected":false},"author":4,"featured_media":1648,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[33,27],"yoast_head":"\nFinancial IT Support Protects Data With Financial Data Security<\/title>\n<meta name=\"description\" content=\"Do you know how cybercriminals can infiltrate your system? Financial data security protects the most sensitive data with our IT experts. 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