Increase in targeted attacks

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Current IS issues in the financial sector and ways to solve them comprehensively
Evgeny Kraynov, CEO of Telecom Exchange | 06.06.2024
Over the past couple of years, Russian banks have faced a number of specific problems in the field of information security. At the same time, the specifics of the segment and the requirements for infrastructure security require a comprehensive approach. The number and sophistication of cyberattacks on the financial sector are rapidly growing - as are the tools and technology stack used by hackers. And while banks are dealing with regulators' requirements, attackers get another chance to get rich.

What should the financial industry do? Let's consider the problems and possible solutions to information security challenges.

Current issues of information security
Departure of Western vendors
Russian banks were forced to look for an bulgaria mobile database to the usual Western solutions and technologies, while, for example, local perimeter protection was usually built on solutions from vendors that had left the Russian market.

Due to the lack of technical support and updates, outdated security tools cannot cope with the exponentially increased volume of new types of attacks. Web resources become inaccessible and vulnerable.

We have to switch to domestic information security solutions at an accelerated pace, create our own developments and technologies. This poses new challenges for the industry in terms of developing competencies and expertise.

Banks have become an increasingly attractive target for targeted attacks. There has been a dramatic increase in sophisticated attacks aimed at data theft , financial fraud and system disruption. The situation calls for a serious strengthening of countermeasures against targeted attacks.

Shortage of qualified personnel
The shortage of qualified information security specialists, which has been worsening in recent years, also affects the financial sector . Companies find it difficult to attract and retain talented employees with the necessary expertise. This reduces the effectiveness of information security.