Around 350,000 new malware variants are brought into circulation every day. Such attacks are particularly painful for the sector because they can quickly cause damage running into billions. Open source solutions make life difficult for cyber criminals.
We will never get hackers out of the world. Hence, we should start by understanding these like bad weather as inevitable. Suitable clothing helps against bad weather, and the right IT protection, tools and security measures against hackers – sometimes just common sense. Open source solutions make life difficult for cyber attackers.
The Issues Of The Financial Department
As part of the negative infrastructure, the financial industry must ensure all time its networks and that the data entrusted to the company is protected. But there is still a lot of catching up to do. It often takes around a month for IT sections to recognize and fix weak points in the network. That was the result of a research by the Veracode company. The IT weaknesses in this area are not a new issue, but hardly anything has improved in recent years.
In fact, there is hardly an industry that is so plagued by cyber criminals as the financial department. The hackers target large and small banks alike. There was an incident in 2019 when strangers broke into a website and it had to be temporarily taken offline. External leak was only noticed by chance during maintenance work.
Hackers don’t stop at smaller financial houses either. With the help of malware, a Brazilian group of cyber attackers were able to get the card numbers of 2,000 customers and shop undisturbed. The individual accounts were only missing a few hundred dollars, but the amount was 1.5 million dollars. Those hacked got their money back, but that is not always guaranteed. And the cyber attackers are creative and always use new variants.
It is now known that hackers gain access via phishing or smuggle in malware. But today, the bank robbers also use HTTPS, for example, to suggest a supposedly secure data entry. Or they start distributed attacks in which networks are overloaded with countless requests in order to gain insight into countermeasures.
The pandemic has shown that hackers also adapt very quickly to new situations. In engineering attacks, they use socially relevant topics that interest a large part of the population for their activites. This ranges from emails supposedly informing about new measures to imitated pages for emergency aid. IT security must therefore be a priority in all technology innovations and must be considered and implemented from the start.