Cyber ​​security in focus for banks’ prevention of data theft and money laundering


Cybercriminals’ methods of attacking banks and financial institutions have evolved at the same rate as global digitalisation has escalated.

What does the banking and finance industry need to do to stay one step ahead of cybercriminals? What methods do cybercriminals use to access banks and how can they be stopped?

(DOWNLOAD WHITE PAPER – SEE FORM AT THE END OF THE ARTICLE)

Banks handle personal data not only because it is required for the business itself, but also for all the analysis work that is put on customer knowledge and to prevent money laundering and financing of criminal activities. A challenge for banks and financial institutions is that their transaction operations place very high demands on accessibility, while at the same time the requirements for confidentiality and data protection are extra high. Internet banks, payments, trading systems and other things must work in a fast and smooth way, but at the same time the data needed for this business must be protected extra, which can pose a challenge to accessibility.

But to compromise on security for increased accessibility is risky. Successful cyberattacks can be very costly for banks and financial institutions, given the extra high GDPR requirements, which in turn impose heavy fines. The same applies to successful attempts at money laundering.

This white paper from Trend Micro contains information on the methods that cybercriminals use to attack banks. Through specific examples of attacks carried out against various banks in recent years, and the weaknesses in the banks’ security that cybercriminals have exploited, Trend Micro provides guidance on how attacks need to be handled and prevented.

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