Professional Security Magazine: Online banking report

April 24, 2018 — Critical banking vulnerabilities falling

Don Duncan, Director at NuData, comments on a report issued yesterday by Professional; Security Magazine disclosing that according to Positive Technologies’ Financial Application Vulnerabilities Report, drawn from audits performed by the company, high-risk vulnerabilities were found on 90 percent of systems in 2015; by 2016, this number dropped to 71 percent; and, in 2017 it dropped further to 56 percent. Despite this encouraging trend, security shortcomings remain a menace for banks and clients..

While fewer critical vulnerabilities is good news, this doesn’t mean customer accounts are protected. All the exposed data – due to the endless breaches – makes it easier to find working username and password combinations. Today, a fraudster doesn’t need to break a system to access sensitive data. Most of the attacks’ objective is to reach sensitive data they can profit from. Bad actors can easily get their hands on the customer data that breaches make available.

For the complete article, go here.