- Cantor Fitzgerald and BMO Capital charged for improper handling of ADRs
- Wells Fargo releases 2018 Corporate Responsibility Report
- Wealth firms should be concerned about threat posed by digital financial advice platforms, says GlobalData
- Paragon Bank achieves £6bn in savings deposits in just five years
- PwC awarded contract to manage Northern Rock’s remaining assets
- Upper Tribunal publishes decision on former Barclays Wealth COO
- Lightbulb moments for SMEs most common at night, finds Barclays expired
- Sberbank broadens service for transferring money for withdrawal from ATMs expired
- Jürg Zeltner nominated to the Supervisory Board of Deutsche Bank expired
- Santander opens re-designed branch in Bradford expired
- CMA revokes Directions regarding its retail banking market investigation expired
- Recommendations issued on the transition from EONIA to €STR for cash and derivatives products expired
2nd August 2019
Capital One breach: Cloud services come with unique security risks, says Vectra
Responding to the news of the Capital One data breach, Matt Walmsley, EMEA Director at Vectra, said:
“Capital One didn’t even know they’d been breached until an external party notified of them on Wednesday 17th July that their customer data appeared to be showing up on GitHub. Yet again we see another big breach where defensive controls fail and detection capabilities are found wanting. In this case it seems that technical configuring mistakes in firewalls provided an opening and a motivated insider within the cloud service provider.
“Cloud services, with all their many benefits, also come with unique security risks to be managed such as attacks directly aimed at Cloud PaaS using stolen credentials, which would remain invisible to workload and cloud instance-centric security controls. Pervasive visibility across the enterprise, agnostic of environment type, is fundamental to security success.
“The task of quickly spotting the attacker behaviour, particularly when they are using legitimate tools and services for nefarious means, is beyond the speed and scale of humans alone. AI is now being used to combat cybersecurity adversaries by analysing digital communications in real time and spotting the hidden signals to identify nefarious behaviour whether they’re in the cloud or operating in your local infrastructure.
"AI can also ‘tie together’ the weak signals from the cloud and local infrastructure to identify the developing attack and enable security teams to quickly identify and stop cyberattacks before they’re able to wreak havoc.
“Given the recent fines Equifax have just been hit with, Capital One should expect deep and extended inspection, and putative fines if found to be culpable in the breach.”