Tesorion Immunity
in the financial industry

How do you prevent cyber incidents in the financial world?

The increasing digitalisation requires of organisations, hence also of financial institutions, that they join in with all sorts of new developments.

Read in the industry paper how financial services can guard themselves against cyber-criminals.

Online is the new normal

Moreover, ever more consumers are buying online, as a result of which considerable pressure is exerted on the financial world for fast and efficient handling of transactions. It is impossible to imagine society without internet and mobile banking. And five years ago, who would have thought that you can pay with your smart phone or Apple Watch? At the same time, these developments bring about ample risks and potential threats to the financial industry. An ever-broader approach is required in terms of systems and channels that have access to financial data. Control over your network and employees who are aware of the potential risks is essential to a secure digital environment.

Phishing is one of the most frequently occurring forms of internet criminality

The employees of financial institutions are also confronted with malicious text messages and emails, allegedly in the name of a bank or insurer. These messages contain a link to a website that can occasionally not be distinguished from the real website, with the objective of obtaining data or offering a malware file. To give you an idea: this form of internet criminality costs the Dutch banks alone EUR 7.94 million a year.

Technological changes: risk or necessity?

Digitalisation, automation, and new forms of services therefore bring about various challenges in the area of cyber-security. One of the things that should be in order in this respect is the security of the business network. Tackle the risk of malware that originates from outside the organisation in the same manner as the risk of an infected device present on the network. In both instances, immediate and automated actions are necessary. A solution is required that detects the various threats automatically, classifies them on the basis of policy rules, and then isolates the relevant systems.

How can you make sure that you stay in control in this changing market? How can you make sure that you stay in control of the devices that access and leave your network? How can you make sure that your data do not unintentionally end up with criminals?

On average, share prices drop by 7.3% after a cyber-attack

Read the complete article on the website of Information Management.

How ransomware is gaining popularity

Ransomware is a form of malware where files are ransomed. This is used ever more often by cyber-criminals to put pressure on banks and to have them pay. In exchange for the payment, the files are released again. The consequences of a cyber-attack can be disastrous. In the autumn of 2019, Travelex, known in the Netherlands as GWK, was affected by ransomware and was completely non-operational for at least two weeks. An unfortunate accumulation of ransomware followed by the loss of tourism due to COVID-19 ensured that the business was declared insolvent in August 2020. The ransomware attack was caused by overdue patch management as a result of insufficient focus on cyber-security.

How do you keep control over the devices in your network?

The management focus on cyber-security becomes ever more important, also because data, data use and data analysis are applied on an ever-broader basis in the financial world. As a consequence, cyber-security is a theme that regards the entire organisation and not just the IT Department. For instance, think about the monitoring of money flows, big data analysis for the development of new services or for the compilation of trend reports. The development of new services or tapping into new markets is often important to banks for their continued existence, especially because new players enter the market with new applications that disrupt the existing market. At the same time, these techniques require different security measures.

Strong security at the gate and beyond

Tesorion Immunity

Network Security comes in many forms. Monitoring the devices that have access to your network is a first step. By combining this with automated virus detection and isolation of the relevant device, a powerful combination is created. Learn how Tesorion Immunity can help your finance organization.