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Copyright © 2013, SAS Institute Inc. All rights reserved. INTRODUCTION A review of the key industry threats and responses ahead Survey of 250 respondents.

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Presentation on theme: "Copyright © 2013, SAS Institute Inc. All rights reserved. INTRODUCTION A review of the key industry threats and responses ahead Survey of 250 respondents."— Presentation transcript:

1 Copyright © 2013, SAS Institute Inc. All rights reserved. INTRODUCTION A review of the key industry threats and responses ahead Survey of 250 respondents in financial services, all of whom have influence on, or knowledge relating to, their organization’s cybersecurity risks and responses Supplemented by expert interviews

2 Copyright © 2013, SAS Institute Inc. All rights reserved. BACKGROUND New opportunities – and new threats Cybersecurity is a wide-ranging problem but financial institutions often lead the way Threats range from simple to complex Both technologies and threats are evolving

3 Copyright © 2013, SAS Institute Inc. All rights reserved. RISK RADAR

4 Copyright © 2013, SAS Institute Inc. All rights reserved. KEY FINDINGS The weakest link Trust trumps financial losses A lack of cooperation is hindering progress Response strategies are evolving Nearly one in three of those polled rate limited customer awareness as a key challenge; careless employees are also cited as a concern

5 Copyright © 2013, SAS Institute Inc. All rights reserved. STATE OF PREPAREDNESS

6 Copyright © 2013, SAS Institute Inc. All rights reserved. CYBERCRIME: THREAT LANDSCAPE Highly sophisticated with varying agendas Continuously evolve attack methods – look for weakest link Organized and agile Leverage insiders

7 Copyright © 2013, SAS Institute Inc. All rights reserved. TODAY’S RISK: COMPLEX MULTI-FLANK ATTACK (5/10/2013) Unlimited Operation Cyber hack into 2 card processing companies Stole & counterfeited pre-paid debit cards Reprogrammed the cards with infinite balances Organized criminal cells used to withdrawal money at ATMs across 20 countries 8 men made 705 ATM withdrawals in US in 144 minutes (a withdrawal every 98 seconds, $2.8M) Global withdrawals of over $45M Hackers watched withdrawals from remote screens to ensure “they were not defrauded”

8 Copyright © 2013, SAS Institute Inc. All rights reserved. Q&A Please feel free to submit any questions via the question panel on your WebEx control panel

9 Copyright © 2013, SAS Institute Inc. All rights reserved. THANK YOU Download Research Whitepaper at www.sas.com/cyberrisk

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