Kaspersky: Most Financial Services Firms Exposed to Cyber Threats

Antivirus software provider Kaspersky Lab found the majority of financial services organizations were recently exposed to cyber threats.

A new survey from Kaspersky and marketing research company B2B International, titled “Global IT Security Risks 2014 — Online Financial Fraud and Protection,” revealed 93 percent of these organizations dealt with cyber threats between April 2013 and May 2014.

Other survey findings included:

“While it is encouraging that financial services organizations recognize the damage to their reputation that can result from a cyber attack, it is concerning that many firms have not taken the necessary steps to implement proper security,” Ross Hogan, global head of Kaspersky’s fraud prevention division, said in a prepared statement. “Based on these survey results, we expect to see more financial services organizations take the necessary steps to not only protect customer data and financial information, but to take the steps needed to ensure their important reputation remains intact.”

The survey included responses from 3,900 international business-to-business (B2B) IT professionals who were asked about business conditions from April 2013 to May 2014.

How can MSPs protect their sensitive financial data?

John Murdock, Kaspersky’s vice president of channel sales, told MSPmentor he believes managed service providers (MSPs) can use a “multi-layered security strategy” to protect their sensitive financial data against cyber threats.

“Cyber crime is exploding, and every MSP must take extra measures to ensure the security of their customers’ information and network assets. A multi-layered security strategy is the only way, closing doors and preventing malicious behavior wherever possible,” he said.

Murdock added educating customers about IT security issues also is important for MSPs.

“As an MSP, your customers rely on you for ensuring the most secure and reliable infrastructure, policies and oversight are employed. Your knowledge of security and best practices is what attracts customers,” Murdock said. “As an MSP, you should routinely meet with customers, demonstrate leadership to urge customers to employ broader security measures and stay ahead of the criminals as the threat landscape evolves.”

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