‘Modern Bank Heists’ Threat Report from VMware Carbon Black Finds Dramatic Increase in Cyberattacks Against Financial Ins...
May 14 2020 - 7:00AM
Business Wire
Third annual report details how financial CISOs
are battling ransomware, wire fraud transfer, island hopping,
destructive attacks, and counter incident response
VMware, Inc. (NYSE: VMW), a leading innovator in enterprise
software, today released the third annual “Modern Bank Heists”
report, produced by VMware Carbon Black. The report combines
original VMware Carbon Black threat data analysis with annual
survey results featuring responses from 25 leading financial
institution CISOs.
“Financial institutions have long been targets for cybercrime
syndicates,” said Tom Kellermann, head of security strategy,
Security Business Unit, VMware. “Over the years, bank heists have
escalated to virtual hostage situations where cybercrime groups and
nation-states have attempted to commandeer digital transformation
efforts. Now, as we address COVID-19’s impact on a global scale,
it’s clear attackers are putting financial institutions directly in
their crosshairs, according to our data.”
Among the key findings from the report:
Threat Data Analysis
- From the beginning of February to the end of April 2020,
attacks targeting the financial sector have grown by 238%,
according to VMware Carbon Black threat data.
- Ransomware attacks against the financial sector are up 9x from
the beginning of February to the end of April 2020, according to
VMware Carbon Black threat data.
- 27% of all cyberattacks to date in 2020 have targeted either
the healthcare sector or the financial sector, according to VMware
Carbon Black data.
Key Survey Results
- 80% of surveyed financial institutions reported an increase in
cyberattacks over the past 12 months, a 13% increase over
2019.
- 82% of surveyed financial institutions said cybercriminals have
become more sophisticated over the past 12 months.
- 64% of surveyed financial institutions reported increased
attempts of wire fraud transfer over the past 12 months, a 17%
increase over 2019.
- 33% of surveyed financial institutions said they’ve encountered
an attack leveraging island hopping (an attack where supply chains
and partners are commandeered to target the primary financial
institution) over the past 12 months.
The full report, available for download here, takes a look at
some of the key attack types financial institutions are
encountering; how modern cybercriminals are evolving; what tactics,
techniques and procedures (TTPs) are emerging; and how defenders
can keep pace.
Click here to download the report
Additional Resources
Day two of Connect 2020, VMware’s annual cybersecurity
conference, kicks off today at 11am ET. There’s still time to
register here!
On May 13, VMware announced its intent to acquire Octarine,
which will bring intrinsic security to containerized applications
running in Kubernetes and build security capabilities into the
fabric of the existing IT and DevOps ecosystems. The company also
announced the creation of a Next-Gen SOC Alliance featuring
industry-leading SIEM/SOAR vendors Splunk, IBM Security, Google
Cloud’s Chronicle, Exabeam, and Sumo Logic.
About VMware
VMware software powers the world’s complex digital
infrastructure. The company’s cloud, app modernization, networking,
security, and digital workspace offerings help customers deliver
any application on any cloud across any device. Headquartered in
Palo Alto, California, VMware is committed to being a force for
good, from its breakthrough technology innovations to its global
impact. For more information, please visit
https://www.vmware.com/company.html
VMware and Carbon Black are registered trademarks or trademarks
of VMware, Inc. or its subsidiaries in the United States and other
jurisdictions.
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version on businesswire.com: https://www.businesswire.com/news/home/20200514005258/en/
Ryan Murphy VMware Carbon Black Global Communications
rymurphy@vmware.com 917-693-2788
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