Fidelity bank banner Bayelsa State banner
Banks advised to guard against advanced attacks

By Amechi Obiakpu, Lagos on 01/02/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 614

•Arbor Networks Territory Manager, Bryan Haman
•Arbor Networks Territory Manager, Bryan Haman

Banks and other financial institutions have been advised to find better ways to fight advanced attacks by cyber criminals.

The call is coming on the heels of a recent report by Juniper Research which states that fraud and the interception of online transactions statistics are exhausting that, by 2020, the value of fraudulent online transactions globally will be close to the equivalent of $25.6 billion, which is double what is at present.

Reacting to the report, Arbor Networks, the security division of NETSCOUT, said the action is necessary because of the role financial institutions play in safeguarding ‘our money’.

Territory Manager for sub-Saharan Africa, Arbor Networks, Bryan Hamman, said in a statement that if there’s one industry we should be most concerned about when it comes to cyber criminals and security, is the one that looks after our money. 

Continuing Hamman said: “The financial services industry is under continual threat from cyber crooks, and the methods they use to try and infiltrate bank security systems are becoming more sophisticated every day.

The good news is that this threat can be averted, and the theft avoided, says Hamman.

He advised that banks need to consider platform solutions that provide real-time flow and packet analysis for connections – end-to-end.

According to him, “These solutions should be designed with the user in mind, allowing them to easily zoom/pivot on visual representations of new indicators and to automatically correlate network activity.”

He says built-in investigation workflows and an exceptional threat level analysis system with informed analytics will provide visibility into both past and present network activity. In addition, there are modules available that will automatically aggregate related indicators, host profiles and network connections into a single view of an advanced threat.

“South Africa had the most cyber-attacks across Africa in 2014, with losses estimated at around R50 billion,” adds Hamman.

“In a world like this, consumers want their bank’s security teams to be able to detect and connect global attack indicators to events in their own network.

“In fact, global threat indicators should be connected to the organisation’s internal traffic systems with the most relevant and dangerous threats being identified early,” he said.

Source News Express

Posted 01/02/2018 1:28:51 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Anambra shuns Democracy Day celebration

ACF blasts suicide bombers, condemns Biu Market attack...

EFCC arraigns 2 for illegal oil deal

Cross River to recover N104m debt from cocoa...

Kogi Election: Declare Wada winner, PDP insists, Audu’s...

Aides, ministers take government files, memos to Buhari...

PDP National Caucus rejects Edo governorship election result...

Nigerian Navy promotes 78 Senior Officers

Abia Governor’s wife rescues 11-year-old victim of sexual...

19 states still owe workers despite bailouts and...

Supreme Court adjourns Sovereign Wealth Fund suit

Police Recruitment: Successful candidates to undergo compulsory lie...

 

Latest News NLNG train 7 to increase FDI in Nigeria Over 6,000 firefighters battling Southern California blaze 2 billion people live in poverty: Report EPL: United beaten 3-2 as Brighton add to Mourinho’s woes NiMet predicts thunderstorms, rains for Monday How Wike’s Chief Security Officer led Government House security officials to disrupt Rivers bye-election — APC Alarm bells as job and contract scams hit Niger Delta Nigeria’s democracy in danger: Savannah Centre Osun APC Guber: There was a conspiracy against me — Deputy Speaker, Lasun Third Mainland Bridge to be temporarily shut for 4 days – Lagos Govt 2019: Youths demand waiver, 50 per cent discount on nomination forms Man fights for his life in ICU after phone explodes while charging in bed

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (378,965 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,348 views) Shameless Genevieve Nnaji exposes breasts in public (297,115 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,443 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,434 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,547 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,159 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,307 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,981 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,828 views) Lagos plane crash: Journalist releases victims’ names (153,119 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,389 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,463) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (640) Global Business Monitor (295) International (2,280) Interview (162) Live Commentary (28) Love Matters (135) News (38,145) Opinion (1,063) Pidgin (11) Politics (6,101) Religion (827) Sports (1,653) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement