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Hackers steal millions from Bangladesh Bank and other financial institutions; is your firm an easy target?

June 17, 2016

In the last few years, basic security vulnerabilities have made financial institutions around the world into low-hanging fruit, ripe for the picking by hackers and cyber criminals. The fundamental security flaws that led to data breaches, financial theft and other consequences fall into a few specific categories, including:

  • Vulnerabilities in SWIFT: The decades-old security measures used in the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network has led to over $100M in losses at major banks — Bangladesh Bank, Banco del Austro, Tien Phong Bank, and more — around the world.
  • Outdated Trust Models: In giving too much trust to their HVAC vendor and providing them with external access to their company network, Target opened themselves up to hackers, resulting in extensive credit card fraud.
  • Inadequate Security Processes: Many businesses lack vital processes that ensure their protection against past employees and other members of their business network. For a Pittsburgh, PA law firm, this oversight led to former employees being able to steal valuable documents on behalf of Anonymous.

Contact Brainlink at (917) 685-7731 or raj@brainlink.com today to learn more about how a comprehensive security assessment could keep you from being an easy target for cybercriminals.

The leadership at each and every one of these victimized businesses must have believed that their security was effective enough to keep threats at bay, and at one point that may have been true. Unfortunately, it was only a matter of time for those safeguards and models to become outdated and vulnerable; so what does that say about your security?

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SEC Chair Mary Jo White has said that cyber security is the biggest risk to the financial system, and she’s proven right every time another business is hacked. It’s simply not enough to update your security every once in a while; in order to fend off the ever-evolving nature of cybercrime in the modern world, you need to regularly assess the effectivity of your firm’s security technology, processes, and models. Luckily, you don’t have to do it alone. The team of IT security professionals at Brainlink wants to help.

Why Choose Brainlink?

We want to give you a true confidence in your firm’s security. We’ll perform a comprehensive security assessment that will consider each and every aspect of your IT — from software to hardware to employee practices — in order to pinpoint and address any vulnerabilities that could make you low-hanging fruit for cybercriminals.

Our pedigree as expert IT security consultants isn’t just talk; check out the following resources to learn more about the work that the Brainlink team and our founder Raj Goel does in the cybersecurity sector every day:

Are you low-hanging fruit for hackers? Don’t make it easy for cybercriminals to penetrate your firm. Schedule your security assessment today by getting in touch with Brainlink at (917) 685-7731 or raj@brainlink.com.

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