A highly sophisticated, global attack is being carried out against banks and payment card processors, shedding light on the urgent need for increased network security.
The Federal Bureau of Investigation (FBI) has warned financial institutions of a highly sophisticated and coordinated global attack on banks and payment card processors using cloned cards at automated teller machines (ATMs).
Krebs on Security broke the story and released quotes from the FBI memo. The cybercriminals appear to be targeting small- to medium-sized financial institutions—ones they believe have less mature security controls or lack the wherewithal to deal with potential attacks.
The memo urges financial organizations to review their information security procedures, making certain that they are using password and authentication best practices. The FBI also suggests that financial organizations implement a number of application monitoring and protection tools and offers recommendations to improve an enterprise’s overall network security.
It’s almost impossible to secure corporate infrastructure using legacy technologies, such as VPNs and firewalls, that haven’t fundamentally improved in more than 20 years. What’s more, these tools were never designed to operate with modern, flexible cloud infrastructures and perimeter-less workspaces.
Luckily, Cyxtera’s AppGate SDP addresses many of the problems that small- to medium-sized businesses and organizations face, along with many of the vulnerabilities mentioned in the FBI memo. Among AppGate SDP features:
- Better network security than legacy VPNs, NACs and firewalls;
- Remote and third-party access that is identity and context sensitive;
- Secure connections that are encrypted 1:1 between user and resource;
- Unauthorized resources that are completely invisible;
- Eliminates lateral movements on the network;
- Built like the cloud—massively scalable, distributed & resilient; and
- Consistent access control across cloud native and hybrid environments.
Learn more about Cyxtera’s AppGate SDP and how it provides a modern security solution to protect financial application and networks.