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70% of UK financial organizations now cite cyberattacks as a main risk to financial stability.
VP of Product Management at NinjaOne.
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The rise of remote work, and digital consumer banking services, only perpetuates this challenge.
This introduces another potential attack surface, making the financial sector an increasingly attractive target.
Therefore, existing security solutions might not be enough to protect against the unique risks of the cloud.
Security teams must update their plans to address the specific needs of the cloud environment.
Here are six steps banks can take to mitigate security threats:
1.
Active monitoring and detailed visibility allow banks to identify and remediate misconfigurations before they result in serious harm.
Enforce multi-factor authentication:Along with strong passwords, multi-factor authentication provides a huge boost to security.
The most effective options are hardware security keys or time-based one-time password (TOTP) applications, likeGoogleAuthenticator.
Additionally, overly permissive third-party access can inadvertently expose sensitive information to unintended recipients.
Keep patches up to date across all endpoints:Patching is an essential security control.
Out-of-dateoperating systemsand applications can leave doors open for intrusion or exploits.
To make this easier, banks can use patch management tools to automate numerous updates across all their machines.
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