Internet / Security

Trust is the foundation of any good relationship. And this has never been truer, or more vital, than with the relationship between financial services providers (FSP) and their customers. Without the confidence that their financial information is protected, consumers will be less likely to use online services. This will directly impact banks initiatives toward cost reduction and efficiency, a key goal around online services. While the consumer must exercise good judgment in how they dispense their personal information, the onus is on the FSP to provide a secure environment in which the customer can conduct their financial transactions.

The success of multi-factor authentication implementations in addressing security threats and attacks, such as eavesdropping, password guessing, phishing, social engineering, Man-in-the-Middle (MitM) and the like, is well known. This has also challenged hackers and cybercriminals to continue developing new kinds of attacks in their ongoing quest to steal data and identities, and commit fraud. SafeNet is currently experiencing increasing interest from the market for Man-in-the-Browser (MitB) solutions, not only in the European and American online banking markets, but worldwide. Today, the most common type of attack is the Man-in-the-Middle (MitM) attack. Basically, a MitM attack takes place when an attacker intercepts communications between two parties, such as a customer and a financial organization, without their knowledge. By doing so, the attacker becomes “the man in the middle.” As a proxy, the MitM can both capture and manipulate the contents of the messages relaying between the two parties without their knowledge.

The losses attributed to financial fraud are alarming. The financial services industry has become a primary target of cyber attacks on a global scale and, in 2009 alone, suffered losses totaling $54 billion - an increase from $48 billion in 2008. Of equally grave concern to financial services institutions is the damage cybercrime can cause to reputation, along with customer churn, both of which can have a significant impact, and possibly devastating, effect to revenue. While all types of cybercrime have been on the rise, there has been a sharp increase in financial fraud resulting from computers infected with malware. Malware typically targets desktop computers and relies on social engineering to induce unsuspecting home users to download and install malicious code on their computers. One of the most dangerous types of malware for online banking and financial services are Man-in-the-Browser attacks. A Man-in-the-Browser attack occurs when malicious code infects an Internet browser. The code modifies actions performed by the computer user and, in some cases, is able to initiate actions independently of the user. When a user logs onto their bank account, using an infected Internet browser is enough to trigger illicit transactions that result in online theft.

The communication challenge Organizations need to communicate with an increasing amount of target audiences in different regions across different channels. This leads to a proliferation of communication channels that makes it hard for organizations to communicate efficiently and effectively. BluePrinting BluePrinting is SDL Tridion's unique content management technology that allows organizations to handle this challenge. BluePrinting technology enables organizations to manage brands, globalize Web sites, deliver targeted marketing messages across multiple channels, and create micro-sites for specific campaigns or projects.

Threats aimed at an organisation’s information assets, enterprise systems and critical infrastructure are increasing in number and sophistication. The question being asked by many IT practitioners faced with limited budgets and growing security risks is: What are the right technologies that will yield the greatest value for my organisation? Furthermore, how can I determine that value, and will it convince senior management to approve the investment?