ZeroFOX Unveils New Capabilities for Financial Services to Detect and Remediate Critical Social Media Risks
Organizations can now leverage the ZeroFOX platform to ensure compliance and identify customer-facing financial scams.
March 2nd, SAN FRANCISCO CA and BALTIMORE MD — ZeroFOX, the social media security company, today at RSA Conference announced two new major capabilities for financial services customers navigating the dangerous waters of social media. ZeroFOX customers now have the ability to detect compliance violations for protected social media accounts for regulations such as PCI, PII, FINRA, FFIEC, and more. In addition, ZeroFOX unveiled a suite of new machine learning classifiers, built to detect customer attacks that leverage financial fraud and scams.
ZeroFOX is the leader in tackling the dynamic business and security risks introduced by social media. As a Cisco report1 revealed in the second half of 2015, social media is now the #1 source of malware. This exponential growth in social media risks includes errant posts and lost sensitive information, phishing and malware campaigns affecting the likes of Twitter’s CFO himself, and consumer-facing financial attacks exploiting or imitating a financial institution’s brand. According to PwC’s Banking Banana Skins report2 late last year, social media skyrocketed as a concern for banks, landing at 3rd place for the first time.
“Social media has been causing headaches for financial institutions for years, but 2015 showed us an even darker side of the kinds of risks found on social. As expected, consumers have adopted social in unprecedented droves; banks have tapped social media for customer engagement and marketing but are now coming head to head with the full scale of the potential risks,” said ZeroFOX CEO, James C. Foster. “Our platform is the one stop shop for financial institutions that are tackling the dynamic security and risk challenges of social media. As phenomenal as social media is from a marketing and sales perspective, the risks are here to stay and they’re only growing more dangerous.”
The new compliance capabilities identifies violations for a variety of regulatory concerns, including PCI, FFIEC, FINRA, PII and more. ZeroFOX custom rule engines means that organizations can pinpoint which organization-specific words or phrases are most critical for their compliance posture.
Financially motivated cyber criminals run rampant on social media; for every 1 financial attack that is mitigated, 3 new ones are created. The new ZeroFOX capability uses machine learning classifiers to identify fraudulent attacks targeting financial institutions’ customers. The classifiers boast a 98.87% accuracy for predicting events and across a multitude of social media channels.
Stop by RSA booth #S845 to see ZeroFOX in action.
These capabilities are available immediately in the ZeroFOX platform. Talk to an account executive to learn more.
ZeroFOX protects organizations from the risks introduced by social communication and collaboration platforms. In an age of constant connectivity and social sharing, users have become the primary target for the adversary. ZeroFOX protects your people where they are most vulnerable by continuously monitoring social platforms for cyber attacks, sensitive information loss, social engineering campaigns, account compromise and fraud. Leveraging cutting edge technology and proven security practices, ZeroFOX provides both targeted protection and global insights into the world of social media threats. ZeroFOX, based in Baltimore, MD, has collected a number of industry awards including being recognized as a SINET16 Champion, Security Tech Trailblazer of the Year, one of CRN’s Top 10 Security Companies, 2013 Maryland Cyber Company of the Year, Winner of Chesapeake Regional Technology Council 2014 Rising Star Award, ‘20 Most Promising Security Companies’ by CIO Review, and Daily Record’s ‘Innovator of the Year’.
To find out more information about ZeroFOX or to join our team, please visit: https://www.zerofox.com.
CONTACT: Amanda Sauve
Phone: (443) 690-9654
1Cisco 2015 Mid-Year Report
2PwC Banana Banking Skins 2015