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.
These capabilities are available immediately in the ZeroFOX platform. Talk to an account executive to learn more.
1Cisco 2015 Mid-Year Report
2PwC Banana Banking Skins 2015
ZeroFOX, the market leader in social media & digital protection, safeguards modern organizations from dynamic security, brand and physical risks across social, mobile, web and collaboration platforms. Using diverse data sources and artificial intelligence-based analysis, the ZeroFOX Platform identifies and remediates targeted phishing attacks, credential compromise, data exfiltration, brand hijacking, executive and location threats and more. The patented ZeroFOX SaaS technology processes and protects millions of posts, messages and accounts daily across the social and digital landscape, spanning LinkedIn, Facebook, Slack, Twitter, Instagram, Pastebin, YouTube, mobile app stores, the deep & dark web, domains and more.
Led by a team of information security and high-growth company veterans, ZeroFOX has raised over $100M in funding from NEA, Highland Capital, Silver Lake Waterman, Redline Capital and others, and has collected top industry awards such as Red Herring Top 100 North America, the SINET16 Champion, Dark Reading’s Top Security Startups to Watch, Tech Council of Maryland’s Technology Company of the Year and the Security Tech Trailblazer of the Year. To find out more information about ZeroFOX or to join our team, please visit: https://www.zerofox.com/.