Booz Allen Hamilton recently released what it found to be the top ten trends in cybersecurity, particularly for those in financial services.
With senior executives standing as the moving targets of cyber threats and mobile device security making the list, the firm suggests that these threats have effects that can permeate all parts of a financial services organization.
“These trends highlight the fact that cyber security today is about living with and managing the risk in your network. It“™s more than just preventing security violations,“ said Bill Wansley, senior vice president at Booz Allen Hamilton.“As the list of companies victimized by hacking grows, it is clear that no network is completely impenetrable.”
In Booz Allen’s Top 10 Financial Services Cyber Security Trends for 2012, the firm identifies IT security issues that organizations, particularly financial ones, are facing. The list includes the following trends:
- “Exponential growth of mobile devices,” which according to the firm will introduce high increases in security vulnerabilities.
- An increase in C-suite targeting
- Increasing use of social medias as means to launch cyber threats and attacks
- An increased focus on analysis, detection and expunging threats already inside the system
- Everything physical can be made digital and used by hackers
- More companies will move to cloud as cost saving measures
- Globalization of banks and investment firms means more interconnected systems and an increased liklihood that a security breach could create a “ripple effect”
- Zero-day malware will increase as well as organized attacks
- Insider threats will continue to be a primary cause of successful Advanced Persistent Threats and other breaches.
- Increase of regulations following the introduction of the Securities and Exchange Commission guidelines requiring companies to report incidents that may have compromised data