Category Archives: News

Enhancing Cyber Resilience in the Financial Services Industry

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2024 Cyber Resilience Research Unveils Financial Services Industry Challenges

New data illuminates how financial services leaders can prioritize resilience.

 Financial services institutions find themselves at the intersection of progress and peril in the rapidly evolving digital landscape. The latest data underscores that the trade-offs are significant and pose substantial risks to financial institutions.

Get your complimentary copy of the report

One of the foremost obstacles is the disconnect between senior executives and cybersecurity priorities. Despite recognizing cyber resilience as a crucial imperative, many financial services institutions struggle to secure the support and resources from top leadership. This lack of engagement hinders progress and leaves institutions vulnerable to potential breaches.

Meanwhile, technology continues to advance astonishingly, as do the risks posed by cyber threats. The 2024 LevelBlue Futures™ Report reveals this delicate balancing act between innovation and security within the financial services industry. Our comprehensive analysis identifies opportunities for deeper alignment between executive leadership and technical teams.

The Elusive Quest for Cyber Resilience in Financial Services

 

Imagine a world where financial services institutions are impervious to cyber threats—where every aspect of an operation is fortified against disruptions. This is the lofty ideal of cyber resilience, yet it remains an elusive goal for many financial services institutions. The rapid evolution of computing has transformed the IT landscape, blurring the lines between legacy systems, cloud computing, and digital transformation initiatives. While these advancements bring undeniable benefits, they also introduce unprecedented risks.

Our research indicates that 85% of finance respondents agree that dynamic computing increases their risk exposure. In a world where cybercriminals are becoming increasingly sophisticated, the need for cyber resilience has never been more urgent. From ransomware attacks to crippling DDoS incidents, financial institutions operate in a climate where a single breach can have catastrophic consequences.

Exploring the Relationship Between Leadership and Cyber Resilience

Our survey of 1,050 C-suite and senior executives, including 197 from the finance sector across 18 countries, highlights the pressing need for cyber resilience. The report is designed to foster thoughtful discussions about vulnerabilities and improvement opportunities.

In the report, you’ll:

Discover why financial services leaders and tech teams must prioritize cyber resilience.
Learn about the critical barriers to achieving cyber resilience.
Uncover the importance of business context and operational issues in prioritizing resilience.

Recognizing the Imperative of Cyber Resilience

 Financial services leaders are called to chart a course toward greater security and preparedness. Reacting to cyber threats as they arise is no longer enough; organizations must proactively bolster their defenses and cultivate a culture of resilience from within.

Our research delves into the multifaceted challenges facing financial services institutions in their quest for cyber resilience. From limited visibility into IT estates to the complexity of integrating new technologies with legacy systems, financial institutions grapple with deep-seated barriers that hinder their ability to withstand cyber threats.

Download the report today

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Enhancing Cyber Resilience in the Financial Services Industry

Read Time:2 Minute, 24 Second

2024 Cyber Resilience Research Unveils Financial Services Industry Challenges

New data illuminates how financial services leaders can prioritize resilience.

 Financial services institutions find themselves at the intersection of progress and peril in the rapidly evolving digital landscape. The latest data underscores that the trade-offs are significant and pose substantial risks to financial institutions.

Get your complimentary copy of the report

One of the foremost obstacles is the disconnect between senior executives and cybersecurity priorities. Despite recognizing cyber resilience as a crucial imperative, many financial services institutions struggle to secure the support and resources from top leadership. This lack of engagement hinders progress and leaves institutions vulnerable to potential breaches.

Meanwhile, technology continues to advance astonishingly, as do the risks posed by cyber threats. The 2024 LevelBlue Futures™ Report reveals this delicate balancing act between innovation and security within the financial services industry. Our comprehensive analysis identifies opportunities for deeper alignment between executive leadership and technical teams.

The Elusive Quest for Cyber Resilience in Financial Services

 

Imagine a world where financial services institutions are impervious to cyber threats—where every aspect of an operation is fortified against disruptions. This is the lofty ideal of cyber resilience, yet it remains an elusive goal for many financial services institutions. The rapid evolution of computing has transformed the IT landscape, blurring the lines between legacy systems, cloud computing, and digital transformation initiatives. While these advancements bring undeniable benefits, they also introduce unprecedented risks.

Our research indicates that 85% of finance respondents agree that dynamic computing increases their risk exposure. In a world where cybercriminals are becoming increasingly sophisticated, the need for cyber resilience has never been more urgent. From ransomware attacks to crippling DDoS incidents, financial institutions operate in a climate where a single breach can have catastrophic consequences.

Exploring the Relationship Between Leadership and Cyber Resilience

Our survey of 1,050 C-suite and senior executives, including 197 from the finance sector across 18 countries, highlights the pressing need for cyber resilience. The report is designed to foster thoughtful discussions about vulnerabilities and improvement opportunities.

In the report, you’ll:

Discover why financial services leaders and tech teams must prioritize cyber resilience.
Learn about the critical barriers to achieving cyber resilience.
Uncover the importance of business context and operational issues in prioritizing resilience.

Recognizing the Imperative of Cyber Resilience

 Financial services leaders are called to chart a course toward greater security and preparedness. Reacting to cyber threats as they arise is no longer enough; organizations must proactively bolster their defenses and cultivate a culture of resilience from within.

Our research delves into the multifaceted challenges facing financial services institutions in their quest for cyber resilience. From limited visibility into IT estates to the complexity of integrating new technologies with legacy systems, financial institutions grapple with deep-seated barriers that hinder their ability to withstand cyber threats.

Download the report today

Read More

Patch Tuesday, October 2024 Edition

Read Time:2 Minute, 50 Second

Microsoft today released security updates to fix at least 117 security holes in Windows computers and other software, including two vulnerabilities that are already seeing active attacks. Also, Adobe plugged 52 security holes across a range of products, and Apple has addressed a bug in its new macOS 15Sequoia” update that broke many cybersecurity tools.

One of the zero-day flaws — CVE-2024-43573 — stems from a security weakness in MSHTML, the proprietary engine of Microsoft’s Internet Explorer web browser. If that sounds familiar it’s because this is the fourth MSHTML vulnerability found to be exploited in the wild so far in 2024.

Nikolas Cemerikic, a cybersecurity engineer at Immersive Labs, said the vulnerability allows an attacker to trick users into viewing malicious web content, which could appear legitimate thanks to the way Windows handles certain web elements.

“Once a user is deceived into interacting with this content (typically through phishing attacks), the attacker can potentially gain unauthorized access to sensitive information or manipulate web-based services,” he said.

Cemerikic noted that while Internet Explorer is being retired on many platforms, its underlying MSHTML technology remains active and vulnerable.

“This creates a risk for employees using these older systems as part of their everyday work, especially if they are accessing sensitive data or performing financial transactions online,” he said.

Probably the more serious zero-day this month is CVE-2024-43572, a code execution bug in the Microsoft Management Console, a component of Windows that gives system administrators a way to configure and monitor the system.

Satnam Narang, senior staff research engineer at Tenable, observed that the patch for CVE-2024-43572 arrived a few months after researchers at Elastic Security Labs disclosed an attack technique called GrimResource that leveraged an old cross-site scripting (XSS) vulnerability combined with a specially crafted Microsoft Saved Console (MSC) file to gain code execution privileges.

“Although Microsoft patched a different MMC vulnerability in September (CVE-2024-38259) that was neither exploited in the wild nor publicly disclosed,” Narang said. “Since the discovery of CVE-2024-43572, Microsoft now prevents untrusted MSC files from being opened on a system.”

Microsoft also patched Office, Azure, .NET, OpenSSH for Windows; Power BI; Windows Hyper-V; Windows Mobile Broadband, and Visual Studio. As usual, the SANS Internet Storm Center has a list of all Microsoft patches released today, indexed by severity and exploitability.

Late last month, Apple rolled out macOS 15, an operating system update called Sequoia that broke the functionality of security tools made by a number of vendors, including CrowdStrike, SentinelOne and Microsoft. On Oct. 7, Apple pushed an update to Sequoia users that addresses these compatibility issues.

Finally, Adobe has released security updates to plug a total of 52 vulnerabilities in a range of software, including Adobe Substance 3D Painter, Commerce, Dimension, Animate, Lightroom, InCopy, InDesign, Substance 3D Stager, and Adobe FrameMaker.

Please consider backing up important data before applying any updates. Zero-days aside, there’s generally little harm in waiting a few days to apply any pending patches, because not infrequently a security update introduces stability or compatibility issues. AskWoody.com usually has the skinny on any problematic patches.

And as always, if you run into any glitches after installing patches, leave a note in the comments; chances are someone else is stuck with the same issue and may have even found a solution.

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