Paul Pratley, a global investigations manager with Verizon‘s RISK team, urges financial services organizations to implement cyber defenses against threats such as web application attacks, denial of service and skimming.
Pratley said Wednesday the above three emerged as the top threats to the finance and insurance industry in Verizon’s 2014 Data Breach Investigations Report, covering 75 percent of all security incidents.
He noted that defenses should be tailored based on these attack patterns to reduce risk and minimize impact to financial services organizations.
“While not immune to routine opportunistic attacks by miscreants who continually scour the Internet for easy pickings, their status as a high-value target means they attract significantly more directed and tenacious criminal attention,” Pratley said.
He indicated that understanding each of the threats will help the industry prevent not just misappropriated or stolen financial data but also a damaged reputation and brand.