IBS Journal January 2018
21
insider”. Individuals with the motivation to destroy or steal sensitive data are a particular risk if they already have the necessary permission to use it.
Whether the threat is internal or external, training is required so that employees are able to identify both transactional and behavioural irregularities that point to fraud. Some successful user awareness programmes try to drive a ‘do this’ rather than a ‘don’t do this’ approach. If a user sees something suspicious they should send it to the Information Security Specialists straightaway, so they can get it analysed – sometimes a user will be the first person to encounter a threat. Even if a malware campaign gets past the anti-virus products on the first day, its effectiveness can be significantly reduced or mitigated the second day if users are vigilant. Through doing this, the users can become an important part of the security lifecycle.
No boundaries
Another issue is that the bad guys are not limited by jurisdictional boundaries and in fact they use this to their advantage. Attacks are often launched in jurisdictions with weaker cyber laws and often against a target in another country. This should not deter an organisation’s ability to defend against the threat, but it does complicate law enforcement actions once attribution is established.
To improve collaboration, Deutsche Bank cooperates with other members of the financial industry, the technology sector, regulators and law enforcement across the globe to support the collective effort to combat cybercrime. The bank is actively involved in global and regional sharing initiatives such as the FS- ISAC, the Cyber Defence Alliance in the UK and the Cyber Security Sharing & Analytics in Germany, to name just a few. Through these
relationships, we strive to improve overall awareness of ongoing threats and to be better prepared to more quickly respond when there are attempted large breaches.
As we move forward, the financial industry has to continually review its defences to safeguard its treasuries. And corporates must be sure that their banks are behaving responsibly with their data and do not present a third-party risk. Cybercrime is not going to go away and criminals will go on devising new ways to unpick the best of protection. It is our job to stop them and that means everyone working together.
Carsten Fischer is managing director, head of information security operations at Deutsche Bank, based in Eschborn, Germany
www.ibsintelligence.com
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