Welcome!

News Feed Item

Financial Accounts and Endpoints Most at Risk: SANS Survey on Financial Services Security Programs

Results released in two-part complimentary webcast series on March 26 and March 27 at 1 PM EDT

BETHESDA, Md., March 20, 2014 /PRNewswire-USNewswire/ -- Many types of organizations (not just financial) indicated that they are in the business of processing and storing financial information and are subject to compliance with multiple regulations, according to the recently conducted SANS Survey on Financial Service Security completed by 293 IT security professionals.

In the two-part webcast, we will share what types of attacks industry participants are suffering from and how well prepared they believe they are to fend off attacks.

In the survey, 32% of respondents say their organizations spend more than 25% of their security budget on meeting or providing compliance mandates. Yet, only 16% felt very prepared to fend off attacks against financial accounts.

"This survey confirms that most attacks start from within, either through abuse, misuse or by employees falling victim to spearphishing emails," says senior SANS analyst and instructor, G. Mark Hardy, who authored the report. "However, quantifying losses is difficult, with nearly half of the survey participants unable to do so."

Of those that were able to quantify attacks on their organization, 44% suffered direct loss against impacted financial accounts and an additional 36% said they had experienced direct losses due to denial of service interrupting their business.

Survey respondents reported the most losses resulting from the following types of attacks:

  • Abuse or misuse by internal employees or contractors (43%)
  • Spearphishing emails (43%)
  • Malware or botnet infections (42%)

Survey results also reveal that there is room for improvement in security programs.

"Vulnerability scanning, continuous monitoring, advanced firewalls, IDS and IPS have the widest adoption among respondents," explains Hardy, "While real-time threat intelligence and in-house security analytics have significant opportunity for increased market penetration."  

The good news is that 49% of respondents plan to invest more heavily in security in the next 24 months.

"Security spending is up, but so are regulatory reporting requirements," says Hardy.

"Unfortunately, compliance can siphon off scarce funds that could otherwise be used to reduce further losses."

Results will be released in a two-part webcast series featuring G. Mark Hardy and John Pescatore:

SANS Financial Services Security Survey Part I: Risks and Preparedness, Wednesday March 26 at 1 PM EDT  www.sans.org/info/155260

SANS Financial Services Security Part II: Drivers and Wish Lists, Thursday, March 27 at 1 PM EDT  www.sans.org/info/155265

Tweet This:

Customer account breaches and DoS top concerns in SANS survey! Attend webcast March 26 @SANSInstitute. http://bit.ly/Fin-SurvResults

Financial sector strengths and weaknesses revealed in SANS survey. Webcast March 27 @SANSInstitute. http://bit.ly/Fin-SurvResults

Peer education in Financial Services Risk Management in a SANS survey. Webcast March 27 @SANS Institute. http://bit.ly/Fin-SurvResults

About SANS Institute
The SANS Institute was established in 1989 as a cooperative research and education organization. SANS is the most trusted and, by far, the largest source for world-class information security training and security certification in the world, offering over 50 training courses each year. GIAC, an affiliate of the SANS Institute, is a certification body featuring over 27 hands-on, technical certifications in information security. SANS offers a myriad of free resources to the InfoSec community including consensus projects, research reports, and newsletters; it also operates the Internet's early warning system—the Internet Storm Center. At the heart of SANS are the many security practitioners, representing varied global organizations from corporations to universities, working together to help the entire information security community. (www.SANS.org)

SOURCE SANS Institute

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...