Hardware Access Control & Cybersecurity Research Advisory Leaders Report Financial Institutions Facing Intense Security Risks
Sepio Systems, the leader in Hardware Access Control (HAC), today announced the availability of a new research note conducted with TAG Cyber, LLC, the leader in democratizing world-class cyber security research and advisory services, and co-authored by Sepio Systems, that claims rogue devices are posing severe threats to the financial services industry.
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The research explores intense security challenges faced by financial services organizations, which are 300 times more vulnerable to cyberattacks compared to companies in other industries due to the sheer amount of valuable client data in banking and financial institutions. This report provides a comprehensive summary of the threat landscape for financial institutions, high level overview of rogue device threats, detailed rogue device cyberattacks targeting financial service infrastructure, consequences of rogue device threats, and an action plan for how to address rogue device risk in financial services.
“The security risk to hardware hacking on businesses in the financial services industry is a global problem that we assert is reaching a new heightened level of concern as hackers continue to seek out the most valuable asset in our digitally transforming world ‒ data,” said Dr. Edward Amoroso, CEO of TAG Cyber LLC. “As rogue devices initiating attacks have emerged, complete visibility to all hardware assets connected to the internet and internal networks has become a critical component for a strong cybersecurity posture.”
“Hardware based attacks on financial service organizations are a force to reckon with, now possessing capabilities rivaling those of nation-state cyber warfare hackers targeting government agencies and critical infrastructure industries,” said Yossi Appleboum, Co-Founder & CEO of Sepio. “The findings of this report highlight that the threat implications of rogue device security attacks are not only extremely concerning, but also have potentially crippling impacts on banks and financial institutions with devastating and disruptive consequences to their infrastructure.”
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