Citrix: Is Your Security Architecture the Achilles Heel of Your Financial Business?
The recent spotlight on security incidences and breaches against businesses across all industries — including financial organizations — is undoubtedly unnerving for those who are responsible for keeping the businesses safe. For financial services, in addition to this year’s WannaCry ransomware attack, hackers have also used malware to bypass three international banks’ security systems to gain access to SWIFT terminals to initiate unauthorized money transfers. SWIFT is the financial messaging network that connects the world’s banks for settling transactions.
With the onslaught of attacks, is financial services IT ready to win the battle against the attacks? Or is security architecture the Achilles heel of the business?
In a recent global study on IT security infrastructure by Citrix and the Ponemon Institute, two thirds (66 percent) of respondents representing the financial services industry (which made up 16 percent of the 3,728 total number of respondents) think that their existing security solutions are outdated and inadequate, and a new IT security framework is needed to improve security posture and reduce risk. Sixty percent do not have a secure mobile strategy for BYOD.
Despite the fact that more than half (53 percent) will increase security budgets in 2017, the inadequacy of the existing architecture and solutions means that security in financial services has quite a journey to get to where it needs to be. IT teams need the right solutions to protect against the different risks.
Read the entire article here, Is Your Security Architecture the Achilles Heel of Your Financial Business?
via the fine folks at Citrix Systems, Inc.