Top Social and Digital Threats Facing Financial Institutions
2019 Digital Threat Report Findings
In the last several years, Financial Services organizations have undergone rapid digital transformation. They rely on social media and digital platforms to generate brand awareness, provide online banking and other financial services, and to offer support and services to customers. This has created new avenues and means for attackers who also recognize the opportunities provided by these platforms. The cost of social media financial scams exceeds $420 million annually for the top 25 banks alone. Globally, social media phishing attacks cost over $1.2 billion in losses per year and is growing. The threats facing financial institutions are not new: from data breaches and information leakage, spearphishing and customer scams, to financial fraud, bad actors are set on stealing your revenue, damaging your brand, and weakening your customer trust. But as we expand avenues for engagement, the attack surfaces have changed. Bad actors now rely on social media to impersonate your brand and top executives in order to gain access to your information and customers. Cyberattackers use dark web forums to plan attacks and share vulnerabilities. Early warning and visibility into the networks that these actors use to conduct attacks is critical. In this webinar, ZeroFOX’s Chief Security Officer, Dr. Sam Small and Scott Matsumoto, CISO, CIrcle, discuss the top digital threats facing their organizations, tactics they’ve seen used most often on social and digital platforms to target their customers, employees and brand, and steps organizations can take to protect themselves against these risks. Sam will present the latest ZeroFOX Threat Research on the top digital threats the ZeroFOX Alpha Team has identified within the financial services industry.
- Understand the modern digital threat landscape and where bad actors live, such as deep and dark web forums, code sharing sites and social media sites
- Gain knowledge of the top digital risks facing the financial industry and the tactics bad actors use to conduct attacks on your organization and customers
- Hear directly from financial services experts on the top digital threats facing financial organizations and how to effectively and proactively address them
Dr. Sam Small serves as the Chief Security Officer of ZeroFOX, helping its customers implement world class social-media protection programs and supporting ZeroFOX to continuously advance its role as the innovation leader of social-media and collaborative-technology security solutions. After earning his doctorate in computer science from Johns Hopkins University, Sam was a lecturer, led an academic security research lab, and launched two security-industry startups, including Fast Orientation where he most recently served as CEO and continues to maintain a non-operational role as Chairman. In addition to his technical and entrepreneurial pursuits, Dr. Small has provided expert technology and security assessments of dozens of organizations and vendor products and conducted due diligence assessments for more than a dozen software-industry investments, mergers, and acquisitions. He has also served as an expert witness in several high-profile security, software, and network-related lawsuits. His work and research have been covered in publications including Wired, The New York Times, The Washington Post, New Scientist, CNET, ZDNet, and slashdot.
Scott is the Chief Information Security Officer at Circle, a world leading crypto finance company. At Circle, Scott’s mission is to make crypto mainstream, and bring Circle’s products to market by working closely with regulators, governments and industry peers. When he joined Circle in March of 2015, Scott brought with him decades of security and software engineering experience. Mr. Matsumoto was previously a Principal Consultant at Cigital Inc, the largest software security consultancy in the United States, where he led the Mobile Security and Security Architecture practices. In addition to leading two practices at Cigital, he was a founding member of the Cloud Security Alliance. His software engineering experience encompasses development of component-based middleware, performance management systems, graphical UIs, language compilers, database management systems and operating system kernels.