Avoiding Modern Threats on Banking and Financial Digitization

The digitization of the banking and financial sector, in addition to making transactions easier, also increases the possibility of cyber attacks by 86.70%.

Phishing threats still targeting the financial sector from banks, payment systems, and online stores. Based information from the Kaspersky Lab's data in the period February to April 2022 shows that almost half (47.08%) of phishing attempts are related to finance.

To stay safe despite the many phishing threats, here are some tips that users of banking applications and digital transactions can use to protect their business.

Provide staff with basic cybersecurity training

Conduct simulated phishing attacks to ensure that they know how to distinguish phishing emails

Avoiding Modern Threats on Banking and Financial Digitization

Use endpoints protections

Use protection solutions for endpoints and email servers with anti-phishing capabilities, such as Kaspersky Endpoint Security for Business, to reduce the likelihood of infection through phishing emails.

Consider utilizing a threat intelligence platform

Another key component to include is ensuring access to the latest IT security trends/threats also known as threat intelligence. Threat intelligence will provide actionable insights, and provide a bigger and more accurate data of a bank's digital presence, to educate stakeholders on ongoing risks and vulnerabilities.

This will empower them to make informed decisions about potential hazards, fine-tune existing security processes to counter known threats and close any gaps in IT infrastructure on an ongoing basis.