elets 2nd Maharashtra Cooperative Summit 2016 - Technology Presentation: Cybersecurity in Modern...

Enterprise Security Solutions by

Modern Banking, Technology Trends,

and Cybersecurity

Speaker : Mr. Jyotish Werulkar

Date: 05-Oct-2016


A large volume of financial

information are distributed digitally

today and has been growing

exponentially every year.

Banking technology is evolving to

serve the digitized consumers.

Digital transfers are becoming the

norm and replacing traditional

methods of payments / negotiations.

As banking technology becomes

more sophisticated, so does the

CYBERSECURITY

RISKS.2


It is essential to manage

CYBERSECURITY of the legacy banking

infrastructure to achieve:

• SECURITY against known threats by

adopting a resilient and flexible

cybersecurity model

• VIGILANCE by improving the improving

the existing security infrastructure

• RESELIENCE by enabling the

organization to quickly recover from cyber-

attacks and minimize losses

• COMPLIANCE by adopting good

security policies and preventive control

measures

3


Evolution of Modern Banking and Technology Trends

CONSUMER BANKING AND BEHAVIOUR

Banking At Branch

Face-to-face Transaction & automated services at

branch

Cheques & DD

Cash & other negotiable

instruments issuance.

Banking outside Branch

Debit / Credit Cards &

Automated Teller

Machines

Online Banking

Electronic Financial

Transactions

Mobile Banking

Use of mobile devices banking

transactions

Virtual

Wallets

Store money & then use it

across channels to

pay merchants viz. Paytm,

PayPal, Mobikwik etc.

Social Media

Banking

Banking via popular

social media sites.

What’s

Next?

Voice Recognition,

Iris Recognition, Biometrics, Nearfield

Communications (NFC).

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117% growth in mobile transactions in Feb 2016 over March 2015

108% growth in value of transactions through digital wallets in Feb 2016 over March 2015

70% banks will move to private cloud by 2019

72% consumers in the age group 18-34 likely to bank with atleast one non-bank player

75% global banks will increase tech expenditure on

Security and Compliance

$ 480 billion: Financial Services IT Spending worldwide in 2016.(IDC)

Evolution of Modern Banking and Technology Trends

DISRUPTIONS AND INNOVATIONS

Sourcs: Capgemini RBI5


Globally, cybercriminals launch attacks on

banks, consumers, & other financial

services for DATA & MONEY

• 3 times more cyber-attacks on banks than any other sector

• The Biggest Online Bank Robbery: Hackers stole $1 billion+ from

Bangladesh Central Bank(February-March 2016)

• Targeted attacks on Cooperative Banks in Mumbai. 75 lakhs and

Financial Information stolen. Attack Origins: Turkey

• 70 bank customers duped of 10.67 lakhs. 373 fraudulent

transactions

• 135% rise in financial losses for banks in 2015

• Estimated $4 billion losses in the Indian banking sector annually

Sources: Capgemini timesofindia mid-day6


TOP 5

BANKING

INDUSTRY

SECURITY

THREATSIN

7


#1RANSOMWAR

EA malicious program that

locks an infected computer or

encrypts data stored in it, and

then demands a ransom to

unlock the system or decrypt

the data.

93%of phishing emails

contain ransomware.

India is 5th largest target

of ransomware in the world.

State-wise, Maharashtra

is in the top 3 states that

has most ransomware infection.

Source: windowsclub8


#2INSIDER

Insider Risks from

current & former

employees, managers,

contractors & other

internal personnel.

Exposure to available

and sensitive company

data and information is

the biggest driving factor

for Insider Threats.

THREATS

Insider Threats responsible for 90% for security incidents.

A Financial Advisor with a leading Wealth Management firm

stole data from 350,000 clients i.e.10% of its

customer base.

25% of employees have used email to exfiltrate

sensitive data from an organization.

Source: The New York

Times9


Target:

A Leading Cooperative

Bank in Mumbai.

Malware Campaigns:

ZEUS and ZBOT malware.

Loss:

75 lakhs and Financial

Information

Origin of Attack:

Turkey.

Likelihood of an APT Attack

Source: ISACA

52%

22%

1%

25%

Likely

Very likelyNot very

likely

Not at all likely

#3ADVANCE

DPERSISTE

NTTHREATS

(APT)A malicious campaign where the attacker breaches a network, stays there, and keeps gathering intelligence about the target. Such campaigns sometimes can go

undetected for months or years.

Source: mid-day 10


#4MOBILEPAYMENTSSMiShing (SMS phishing)

campaigns and Telebanking

fraudsters continue to be the

biggest security problems for

mobile and digital payments.

The Rise of Mobile

Malware:

In 2016-17,

cybercriminals have

focused their time and

resources for

developing malicious

financial programs for

mobile devices.

Cop falls prey to call-from-bank fraud:

An inspector-general rank officer

posted with the state police was duped

of at least INR 25,000 by a group of

men involved in banking fraud.

Sources: economictimes11


Negligent employees have a

major role to play in several

security incidents that occur.

EMPLOYEE

NEGLIGENCE

Responding to phishing emails

Using infected USB drives

Clicking on malicious ads

#5 COMMON

EMPLOYEE

MISTAKES THAT

CAUSE DATA

BREACHES

Visitinginfected websites

91%of data breaches

star t w i th a

phish ing a t tack . “

12


Helps mitigate all such security threats in healthcare with its range of

Dynamic, Scalable, and Future Ready solutions:

SEQRITE Endpoint Security

SEQRITE Unified Threat Management Solution (TERMINATOR)

SEQRITE Mobile Device Management

SEQRITE Data Loss Prevention

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Endpoint Security FEATURES

PATCH MANAGEMENT

Enables IT administrators to check and

install missing security patches for Microsoft

applications installed on enterprise endpoints

from a centrally managed console.

WEB SECURITY

Automatically blocks websites infected with

malware or designed for phishing attacks.

APPLICATION CONTROL

Categories of applications can be authorized

or unauthorized from being executed within

the network.

DATA BACKUP AND RESTORE TOOL

Automatically and periodically (multiple times

a day), takes a backup of all important and

well-known file formats like PDF and

Microsoft Office files that are present on a

computer.

RISKS MITIGATED

RANSOMWARE ATTACKS

INSIDER THREATS

CORE PROTECTION (IDS/IPS & FIREWALL)

IDS/IPS blocks threats that exploit software

vulnerabilities and Firewall thwarts malicious

attempts to access the corporate network.

BEHAVIOR DETECTION

Detects and blocks unknown viruses and

malware in real-time.

INFECTED WEBSITES

PHISHING ATTACKSINFECTED EXTERNAL DEVICES

SECURITY VULNERABILITIES

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Data Loss Prevention

ADVANCED DEVICE CONTROL

- Configure access policies for more than 25 device

types.

- Blocks unverified devices.

- Prevents autorun infections.

ENHANCED PRIVACY PROTECTION & COMPLIANCE

- Identifies Office documents based on their origin.

- Prevents data leakage propagated by worms,

Trojans, and other malware threats.

- Issues regular notifications to reinforce user behavior

on data security.

LOWER COMPLEXITY & COST OF DEPLOYMENT

- Easy integration with existing Seqrite EPS.

- Defines DLP security polices and reports across multiple

endpoints in scattered locations.

- Centralized management and monitoring of crucial business

data.

CONTENT AWARE PROTECTION

- Monitors all actions on confidential files.

- Instantly notifies admins about unauthorized data leakage.

- Ensures that no confidential data leaves the organization.

• Targeted Attacks

• Human Error

• Bluetooth

• - USB Drives

• - Web Email

• - Cloud Storage

DATA LEAKAGE caused by:

RISKS MITIGATED

FEATURES

15


TERMINATOR

GATEWAY ANTIVIRUS

Scans all incoming and outgoing network

traffic at the gateway level. Augments existing

virus solutions by reducing the window of

vulnerability (WoV).

FIREWALL

Admins can permit or block access for traffic

between internal and external networks

based on enterprise compliance policies.

VIRTUAL PRIVATE NETWORK

Provides IT administrators with a means for

secure communications between the

company's remote users and for building site-

to-site connections.

IDS / IPS

Scrutinizes network traffic in real-time and

prevents a broad range of DoS and DDoS

attacks before they penetrate the network.

DoS & DDoS ATTACKS

INTERNET DOWNTIME

GATEWAY MAIL PROTECTION

Scans incoming/outgoing emails or attachments

at the gateway level to block spam and phishing

emails before they enter the network.

CONTENT FILTERING

Allows blocking of non-business related websites

including streaming media sites, downloads,

instant messaging, etc., in order to reduce

unnecessary load on enterprise bandwidth.

MALICIOUS INTERNET TRAFFIC

MALICIOUS EMAILSMAN-in-the-MIDDLE ATTACKS

ADVANCED PERSISTENT THREATS

FEATURES

RISKS MITIGATED

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MDM

APPLICATION CONTROL

Apps can be remotely managed/ installed/

blocked in order to maintain policy

compliance and productivity within the

network.

VIRTUAL FENCING

Preset virtual boundaries that restrict device

usage and functionality. These boundaries

can be triggered by geolocation-based, time-

based or Wi-Fi network-based data.

UNIFIED MANAGEMENT CONSOLE

Manage and synchronize all connected devices

through a centralized graphical interface.

NETWORK DATA MONITORING

Admins can view details of Internet data used

over mobile networks or Wi-Fi. They can also

monitor all incoming and outgoing calls and

SMSs on enterprise mobile devices.

DATA THEFT FROM LOST/

STOLEN MOBILE PHONES

ANTI-THEFT

Prevents misuse of lost/stolen mobile phones by

remotely tracking and locking them. Also prevents

data breach by remotely erasing the phone’s data.

INTERNET THREATS

JAILBREAKING/ ROOTING

OF MOBILE DEVICES

MALICIOUS MOBILE APPS

SECURITY MANAGEMENT

Features such as browsing protection, web

filtering, anti-theft, and geolocation tracking

ensure the safety of enterprise devices.

MOBILE MALWARE

BAD SECURITY HYGIENE

FEATURES

RISKS MITIGATED

17

Enterprise Security Solutions by18


Real-time Detection of

KNOWN AND UNKNOWN THREATS

Seqrite detects a

suspicious sample on

the customer’s

endpoint.

Sample is

collected.

Sample goes

through

Automated

Analysis.

Sample gets

categorized as

clean or

malicious.

Detection is

generated for

malicious file.

Virus Definition

Update (solution) is

released to the

customer.

Operational 24/7; releases 3 updates per day.

Keeps watch on latest threats; collaborates with global AV vendors for sample sharing.

Developed a lot of indigenous technologies including the latest anti-ransomware feature


Company Overview

OUR JOURNEY


Head Office & R&D CenterPune

Quick Heal –

64 offices &

warehouses across

36 cities in India

INDIA (HO)Quick Heal Technologies

Ltd.

JAPANQuick Heal Japan KK.

UAEQuick Heal Technologies

(MENA) FZE

KENYAQuick Heal Technologies

Africa Ltd.

USAQuick Heal Technologies

America Inc

Company Overview

EXTENSIVE REACH & PRESENCE


25.1 mProduct Licenses Installed

7.6 mActive Licenses across

more than 80 countries

2.0x GrowthActive Licenses over

last 5 years

30% +Retail Market Share in

India

Preferred Choice of

IT technicians for PC

Virus Cleaning

Company Overview

STRONG BRAND RECOGNITION and RECALL


THANK

YOU

Protecting your business from

today’s attacks and

tomorrow’s threats.

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THANK

YOU

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