Finance News & Insights

How safe is Finance from these two cyber threats?

Two of 2014’s biggest threats come from relatively new technology for Finance. Here’s how to safeguard your firm. 

Take a minute and think about all of the ways Finance uses technology on a daily basis. Now think about all of the access points in that tech someone could use to hack into your system. It’s scary to think about.

Technology is undoubtedly becoming more entwined with business, and the stakes of cyber risk are higher as a result. A hack in Finance can lead to all sorts of problems, from leaked data to stolen funds.

That’s why it pays to be on your guard and keep tabs on changing threats. To help businesses stay ahead of hackers, McAfee Labs has released a list of what it expects will be the biggest cyber threats in 2014. It may be a good idea to make sure IT is aware of the threats and ask what they’re doing to counter them.

Be proactive

One key to keeping Finance safe from cyber threats is making sure employees know what they can do o avoid getting hacked.

Here are McAfee’s two biggest cyber threats and what you and IT can do to help protect Finance against them:

  1. Mobile malware. Malicious software, usually unknowingly downloaded, has been creating problems for PC users for years. But McAfee reports that PC malware plateaued in 2013. The bad news? Malware targeting the Android operating systems used in some smart phones grew by 33%. That number is expected to go up in 2014. Companies with bring-your-own-device policies are at risk, since malware can be transferred from an infected device into your system.

 

What can Finance do? If your company has a bring-your-own-device policy, remind workers to treat their phones like they would their computers in terms of security. Don’t open up suspicious emails and avoid unsafe websites.

 

  1. Cloud attacks. Cloud technology continues to grow in popularity, which makes it an attractive target for hackers. They see it as a one-stop shop where they can access large amounts of data. A troubling aspect of cloud-based tech is that it usually means having to hand over security to a third-party provider. That means protection against cyber threats is out of your hands.

 

What can Finance do? Review your provider’s user agreement keeping an eye out for information on security and data ownership. Make sure you know who is held responsible if there’s a security breach.

 

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