We must thank IT virtualization as it led us to cloud technology. Today's IT infrastructures are already running their mission critical business applications on virtual machines. Like the physical infrastructure, virtualization is also cursed with cyber security challenges. This article talks about a typical open source virtualization solution and depicts the steps to secure its.

Are we creating a threat model of our banking infrastructure to find weakest links?

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When it comes to the robust banking infrastructure we have in India, network security is an area where we need to become stronger. Many of the global leaders in the financial institution sector have taken the leap in AI, Blockchain and Encryption security. They regularly conduct pentesting initiatives to uncover network gaps within the infrastructure. It’s important to focus on creating a robust threat model within the banking infrastructure.

Going deeper to detect potential threats

“Dark web monitoring is a part of the overall security. We are working on dark web solutions, like real-time defacement and vulnerability monitoring. The solution should have features like early detection of malware presence; in case any data is available for sale in the dark web, how soon are we able to know about it. We have also found companies paying ransom when their crown jewels are locked by a ransomware. But there is no certainty that the data will be released after the ransom is paid. Neither is there any assurance that the systems will not be attacked again.” - Sameer Ratolikar, CISO, HDFC Bank

It’s important to go deeper into the infrastructure to detect potential threats. This could mean scouting the dark web for leaks of information. This enables banks to become increasingly secure and focus on threat detection anytime there is a leak found. While few banks are engaging in active threat detection, it should be an industry standard. Going deeper into the corners of the internet is where you can find activity that can potentially tarnish your banking brand.

cybersecurity Framework

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Penetration testing is equally important as well. Companies need to invest in the right tools to gain an advantage over the hackers that attempt an attack daily. Pentesting services models have evolved to a point where a threat model can be developed in collaboration with the banking infrastructure. A thorough analysis can be made easily, along with integrations necessary to become more compliant.
As penetration testing services become increasingly sophisticated, banks need to go deeper internally as well. They need to uncover gaps in the network and find areas where they can improve. It could be a certain business area or a third-party vendor that may open up an attack point for intruders. Security penetration testing from elite companies like Valency Networks, works out best in this situation. They can perform the right testing mechanisms on your infrastructure to uncover gaps within the framework.

From employee to end-point

Are we creating the right threat model for our banking infrastructure? The answer might be in the negative currently, but banks are increasingly becoming aware of the advantages of pentesting companies. The right best pentesting companies can introduce innovation in the network architecture, along with bringing a more consistent approach towards security. They can review the current ecosystem to find out which areas need the most work.

Employees can be a source of weakness as well. As social engineering and shared account access become increasingly common, employees become a source of entry. They may not know it at first, but employees can get conned into clicking on links or downloading malware. There are various activities that can’t be covered under an anti-virus scope. That’s where banks need to conduct regular pentest analysis to ensure that their employees aren’t becoming a source of weakness. They may share information with third-parties who may have malicious intent. They may also download emails or share files from personal accounts. All of this can lead to issues with compliance and security.

Pentesting consultants should also be hired to analyse the end-point ecosystem within the bank. Whether they have a BYOD policy or have specific checks for one-time access, end-points should be captured in the threat model. That’s when banks can become increasingly compliant and raise concerns at the right time. They can also model their ecosystem after a global leader and increase their end-point security by hiring the right penetration testers.

Pentesters can create a more compliant ecosystem for our banks to function more effectively in. From a threat detection point of view, it’s imperative that they work with a quality list of pentesting companies. Detecting threats early on and resolving issues that arise is critical to the effective formulation of a robust infrastructure. Creating the right threat model involves quality talent, and a thorough understanding of the technology present.

Repairing the weakest link

It’s not just important to find the weakest link. It’s critical to conduct repairs as soon as they’re located. This is critical to understand, as banks work with security consultants from around the world. Having localized solutions to scaled problems is important. Especially in the case of execution, it’s important that banking firms finalize a robust approach that captures a larger scope.

Whether that’s a legacy network that needs to be updated or a cloud server that isn’t protected, banks need to find and repair their weak-points in an efficient manner. Having delays will only tarnish the brand image further, with another layer of protocols to be developed for the new attack. If you do happen to find an attack present, having a remediation and repair plan is critical as well.

Many threat models don’t have the critical aspect of remediation and repair. That’s where they fail in terms of execution. When banks have the right threat detection and remediation plan, they’re able to scale their operations further. They remain compliant to all governing regulations and are able to perform at a much greater scale. They’re also more compliant to the needs of the customer. They’re able to share more information with them without risking any compliance issues of problems with network security.

When it comes to repairing the weakest link, it’s important to have the right approach to fix errors in a lean manner. That’s when banks can truly become secure and operate long-term in a dynamic environment.