As cyber-attacks continue to affect businesses, it is banks that are the most lucrative target for cybercriminals. Beyond having their reputation at stake, banks also risk customer’s money and data, amplified regulatory attention and even litigation. The stakes are clearly too high.
The recent cyber-attack on a large bank headquartered in Pune is one of the many cases where hackers successfully managed to siphon off huge sums of money, in this case over Rs. 90 Crore. Many past attacks have targeted small-to-medium size financial institutions, likely because of poor implementation of cybersecurity solutions, budgets, or awareness. The FBI in a global warning has alarmed banks that the frequency of such attacks is likely to continue or possibly increase in the near future. So what is that banks can do to assess the state of their cybersecurity? The answer is: conduct a Red Team Assessment.
What is Red Team Assessment?
Red Team Assessment is basically a mock trial of how well your people, processes, and technology are prepared to handle real-world cyber-attacks. In a red team exercise, highly trained security consultants attempt to breach the security of the organization to expose potential physical, hardware, software and human vulnerabilities.
A comprehensive Red Team exercise will expose vulnerabilities and risks regarding
- Networks, applications, switches, mobile devices
- Social engineering (onsite, telephone, email/text, chat)
- Physical attacks (pen-drive bypass, camera evasion, alarm bypass, Wi-Fi attack etc.)
The purpose of red team assessment is to identify how real-world attackers can exploit major or even seemingly minor loopholes to breach your IT security. It is an effective way to showcase that deploying the most robust firewall would mean nothing if an attacker can tailgate his way to your data center and walk away with an unencrypted hard drive with critical business information.
You’re only as strong as your weakest link and thus adopting a multi-layered defense in depth approach is the best way to strengthen your cybersecurity.
Who needs Red Team Assessment?
Every organization, big or small can benefit from this assessment. This exercise will provide a list of security-related findings and observations which, once implemented, will help organizations strengthen their security. Red team assessments will provide you with a very good understanding of your cyber defense and how they would perform in a real cyber-attack against your organization.
How do I get a Red Team Assessment done?
Seqrite utilizes a variety of techniques including OSINT, DarkNet Monitoring, Cyber Threat Intelligence, Internal and External Network Penetration Testing, Web & Mobile Application Testing, Social Engineering Attacks and Physical Breach to measure how well networks, applications, physical security controls and employees can withstand a real-time attack.
To conduct a Red Team Assessment, talk to our experts at 1800-212-7377.