Sepio, the leader in Hardware Access Control (HAC), today announced the availability of a new research note conducted with TAG Cyber, LLC, the leader in democratizing world-class cyber security research and advisory services, and co-authored by Sepio, that claims rogue devices are posing severe threats to the financial services industry.
The research explores intense security challenges faced by financial services organizations, which are 300 times more vulnerable to cyberattacks compared to companies in other industries due to the sheer amount of valuable client data in banking and financial institutions. This report provides a comprehensive summary of the threat landscape for financial institutions, high level overview of rogue device threats, detailed rogue device cyberattacks targeting financial service infrastructure, consequences of rogue device threats, and an action plan for how to address rogue device risk in financial services.
Cyber security for financial institutions is paramount. The sector’s importance in national economies makes it a prime target for cybercrime organizations;
Cyber threats are 300x more likely to target the financial services industry than companies in other sectors. When targeted, most often a financial institution will suffer from severe data theft causing a substantial financial loss of up to hundreds of millions of dollars. With cyber attacks on financial institutions on the rise, it is crucial to take proper cyber security measures.