While the importance of cybersecurity is finally indubitable, the actions taken to bring the security of financial industry to a new level are not coordinated between major players and across countries. The success of Sberbank Group in fighting cybercrime in 20+ countries of operation is assured by extensive threat intelligence sharing program and innovative approach to Fraud prevention. Being the largest financial institution in Russia and Eastern Europe, Sberbank Group remains the prime target for Russian-speaking cybercriminals.
As part of the Customer Security Programme, SWIFT has introduced the SWIFT ISAC - a global information sharing platform that allows detailed and technical cyber intelligence to be shared with the community. This information allows the community to protect itself, to determine if they have already been compromised, to take mitigating actions, and to defend against further attacks. Attendees of this session will learn about the modus operandi used in known attacks, how to use the SWIFT ISAC portal, and how to stay updated on security related intelligence that is shared with the community.
The best conversations at a conference don’t often happen during a session or audience Q&A, but during the networking events around the conference, or in direct conversations with speakers after their sessions, and then often over all too quickly.
Curated networking builds on this concept by bringing all of the Innotribe and Sibos topic experts together in one place to allow you to dive into the subjects they highlighted on stage, and have a meaningful conversation in a relaxed atmosphere.
During the week Innotribe will have shared a vision for the future for society at large, and the impliacations for the financial industry. The themes for the week are based around Trust and Decentralisation, Quantum computing and advanced Machine Intelligence, all underpinned by Cybersecurity and Data Privacy.
Almost every day you will see a headline about a cyber breach, or data leak, resulting in customer data loss, regulatory fines, and a loss of reputation. How do cyber criminals get access to your institutions data, and what can be done to stop them in their tracks?
Join Daryl Kellison from the SWIFT Red team to witness a live cyber-attack, to learn how often overlooked security protocols leave the door wide open, and how by combining minor vulnerabilities cyber criminals can infiltrate your business, steal your data, and cause untold damage to your reputation.
Financial institutions are under constant pressure to accelerate innovation, leading them to adopt more agile development frameworks and this focus on rapid deployment is often at the expense of security. However, with the odds of a company experiencing a breach being as high as one in four, and with most of the world's major security breaches caused by coding errors allowing hackers to gain more privileges on computer networks, financial institutions have been motivated to act.
We will examine the hypothesis that cyber security attacks by Advanced Persistent Threat (APT) actors who have targeted SWIFT members over the past 24 months will evolve from payments and target areas further along the financial services value chain such as market infrastructures, FX and securities. The view has been developed with the participation of SWIFT community members and other relevant parties such as regulators, national banks and SWIFT themselves to validate the hypothesis and establish views on the evolution of the APT cyber threat to the financial services industry.
For the 2018 Sensemaker series, Innotribe has partnered with IBM Research. The latest IBM Security study reinforces what the industry has known for years - financial services is the most targeted industry for cyberattack. Phishing attacks, malware, malicious code, insider attacks, and attacks by nation states all pose persistent and deepening threats. As an IBM Research scientist, Cecilia Boschini is developing new security protocols based on lattice cryptography, which no computer can crack, not even future quantum computers.
Over the next 12 years, the amount of data that we are all going to produce and share is going to increase exponentially. This means the security infrastructure that safeguards this data will come under increasing stress, facing a growing number of attacks lead by cyber-criminals eager to find any weak point. People have historically been the weakest link in any organisation. This has led to a rise in the number of targeted attacks seen in the wild.