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Vulnerabilities / Threats

6/26/2013
12:43 PM
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41st Parameter Reveals Top Five Cyber Crime Threats Facing Global Financial Institutions

Report includes insights and expert advice to fighting mobile vulnerabilities, malware, DDoS, industrialized fraud, and more

SAN JOSE, Calif. – June 26, 2013 – 41st Parameter, the global leader in securing online relationships, today released a report – The Growing Threat of Cyber Crime: Five Trends and Takeaways – that provides insights and solutions to the five most imminent cyber crime threats. With the incessant drive to better serve the digital consumer through online and mobile channels, cyber crime is on the rise, posing huge financial risks to financial institutions and their consumers. This report highlights industry data along with expert commentary from 41st Parameter executives on the state of the industry and advice on how individuals and organizations can fight back against the rising tide of risk. In addition to the report, 41st Parameter has also created an infographic that illustrates the top five cyber threats.

"The increase in large-scale data breaches and high-volume, coordinated fraud attacks are byproducts of the industrialization of fraud driven by the movement of services online," said Eli Katz, vice president of financial industry solutions at 41st Parameter. "Financial institutions and consumers must each take steps to adjust to this evolving threat landscape. The Growing Threats of Cyber Crime is one step to help banks understand and prepare for the risks they face."

The five trends addressed in the report and infographic are:

1. Data Breaches by the Numbers

2. Malware

3. Distributed Denial of Service (DDoS)

4. Mobile Fraud

5. Organization and Industrialization of Fraud

41st Parameter will release additional educational materials regarding each of the threats in the coming months in the form of webinars, whitepapers and more. For more insight from 41st Parameter on fighting cyber crime, visit the company's Resources Website.

"Risk, cyber crime and fraud are real and present dangers," said Katz, "and we're committed to doing all we can to protect our clients and their customers."

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