Pin It

Banking – An In-Depth Look at Security Breaches

Filed under: All Infographics, Financial Infographics | Comments Off

Banking_Security_Final-sm-b

This infographic tells us that in June 2011 Citigroup announced that their computers were hacked and that 360,000 credit card accounts were compromised.  In this particular case, social security numbers and birth dates weren’t shared, but in some other cases they are.  Hence begins an exploration into how vulnerable your personal details really are.

Finding Fraud

A 2010 survey by the Information Security Group revealed that 82% of responding banks and credit unions have experienced fraud.  55% say they still use manual reports to detect fraud.  32% say they feel prepared to prevent online bank fraud.  23% of respondents learned of their fraud through their own auditing process.  Scary.

How Do Banks Protect Themselves?

The Information Security Group says that the best way to fight fraud is through employee and customer education and by promoting awareness.  70% of banks indicated that improvements could be made to their awareness programs.  14% of institutions said that they didn’t have a customer education or awareness program in place.  44% of banks said they planned on investing (when?) in intrusion detection technology.

89% of agencies that experienced fraud didn’t achieve PCI Security Standard Council compliance.  They aren’t doing the simplest things to prevent fraud.

Is Fraud a Common Issue?

1000 IT managers were surveyed by Websense and when asked “Which of the following occurred to you in your organization in the last 12 months” they had some shocking results.

32% reported data lost by employees.

27% reported company data taken from an unprotected mobile device.

20% reported that a CEO or other executive’s confidential data had been breached.

18% reported that confidential data regarding customers was lost.

18% reported that employees had stolen data.

18% reported that systems had failed to pass an internal compliance security audit.

17% said that confidential information was posted to a social networking site.

16% said that system field to pass a third-party compliance security audit.

16% said that the company was victim to advanced and persistant threats.

Preventative Measures

Ponemon did a study that was sponsored by Symantec and it confirmed that cyber attacks were causing organizations to become more conscientious about preventing security breaches.  Companies are more vigilant about preventing system failures, respondents are using training and awareness programs folloing a data breach, and organizations are implementing encryption.

Encryption and data loss prevention have increased by only 17% since 2008.

Scorecard

Design:  A

It’s pretty.

Information:  A

It’s scary, but good to know.  Time to start putting your cash in your mattress, yes?

Source:   thinkgig.com


Comments are closed.