Friday, January 11, 2019
The Starwood Marriott security breach, which compromised 383 million guest records, represents a new wave of organized attacks against enterprise infrastructures, security analysts have stated. In previous interviews with The Green Sheet, experts at Recorded Future Inc., Uniken and Bluefin said advanced forms of authentication, data devaluation and multilayered security can protect companies and individuals against ever-present threats.
Philip Farah, digital transformation lead, global FI, at World Wide Technology, expects to see near-term growth in agile, cloud-based and "Infrastructure as Code" solutions. In a January 2019 blog post, titled "2019 Tech Trends for Financial Service Industry", Farah cited automation, security and cloud management as critical elements of digital transformation. Unfortunately, cybercriminals are also harnessing these capabilities, he noted.
"Financial organizations will continue to invest significantly in their cybersecurity capabilities, including the development of enterprise-wide end-to-end patching, further adoption of biometrics to replace traditional passwords, and wider implementation of zero-trust cybersecurity architectures across the organization," Farah wrote.
Frank Teruel, senior vice president and general manager at ThreatMetrix, a LexisNexis Risk Solutions company, observed that criminals are launching increasingly powerful and sophisticated attacks. New attack vectors, such as guessing, phishing, credential-stuffing, social engineering and mimicking, are difficult to detect and continually evolving, he noted.
Teruel cited these 4 dominant threats to digital and mobile infrastructures in 2019:
Teruel predicts banks will double down on machine learning technology in 2019, adding, "Doing so is crucial in ensuring maximum protection of their customers' accounts with the lowest intervention rates, ensuring a digital and mobile banking experience that is both friction and fraud-free."
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