In new research sponsored by Booz Allen Hamilton and conducted by digital finance analyst firm Javelin Strategy & Research, the current state of financial institutions’ threat landscape is rather alarming.
The research firm finds that today’s businesses need to look view cybersecurity threats as essentially asymmetrical warfare.
The full report can be downloaded here, but key findings are:
- Economic and political interests can underpin state-sponsored cyber-threats as financial institutions function as lucrative targets
- Cloud deployments can complicate operations if strategy is not considered thoroughly
- “Crypto-jacking,” malware hosting, and command-and-control infrastructure attacks are serious threats and should be considered/prepared for as seriously as data breaches
- Wiper and ransomware attacks are looming and FIs are not prepared to prevent them
- Authentication is a source of concern, with 40% of FIs worried about unauthorized access.
- Multi-cloud environments can invite vulnerability, whether by a likelihood of poor configuration management or simple weak understanding of cloud environments.
- Security teams have a real opportunity to embrace automation.
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