{"id":27188,"date":"2022-10-26T10:07:00","date_gmt":"2022-10-26T10:07:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2022\/10\/26\/financial-services-firms-operating-under-false-sense-of-security\/"},"modified":"2022-10-26T10:07:00","modified_gmt":"2022-10-26T10:07:00","slug":"financial-services-firms-operating-under-false-sense-of-security","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2022\/10\/26\/financial-services-firms-operating-under-false-sense-of-security\/","title":{"rendered":"Financial Services Firms Operating Under False Sense of Security"},"content":{"rendered":"

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HONG KONG SAR –
\nMedia OutReach<\/a> – 26 October 2022 –
\nTrend Micro Incorporated<\/a> (TYO: 4704<\/a>; TSE: 4704<\/a>), a global cybersecurity leader, today revealed that financial services firms are more confident they’re protected from ransomware than any other sector. Yet at the same time, they’re exposed by supply chain risk and sub-par detection capabilities.<\/p>\n

To find out more, please visit: <\/i><\/b>https:\/\/www.trendmicro.com\/explore\/glrans<\/i><\/b><\/a><\/b>\n<\/p>\n

Trend Micro commissioned Sapio Research to poll over 355 financial services IT and business leaders across the globe, as part of a wider cross-industry report into ransomware.\n<\/p>\n

It found that 75% believe they’re adequately protected from ransomware, far higher than the average of 63% across all sectors.\n<\/p>\n

This confidence is partly justified: 99% say they regularly patch servers, 92% secure remote desktop protocol (RDP) endpoints, and 94% have rules in place to mitigate risks from email attachments.\n<\/p>\n

However, 72% of respondents admitted their organisation has been compromised by ransomware in the past, and 79% see their sector as a more attractive target for threat actors than others.\n<\/p>\n

This awareness of current threat levels in the financial services sector does not always translate into action.\n<\/p>\n

Around two-fifths do not use network detection and response (40%) or endpoint detection and response tools (39%), and half (49%) don’t have extended detection and response (XDR) in place.\n<\/p>\n

This may account for poor detection rates for activity connected with ransomware. Only a third (33%) say they can accurately spot lateral movement, and 44% initial access.\n<\/p>\n

Trend Micro also uncovered significant third-party cyber risk for financial services organisations:
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