ROCKVILLE, Md., Oct. 20, 2020 /PRNewswire/ -- Sepio Systems, the leader in Hardware Access Control (HAC), today announced the availability of a new research note conducted with TAG Cyber, LLC, the leader in democratizing world-class cyber security research and advisory services, and co-authored by Sepio Systems, that claims rogue devices are posing severe threats to the financial services industry.
The research explores intense security challenges faced by financial services organizations, which are 300 times more vulnerable to cyberattacks compared to companies in other industries due to the sheer amount of valuable client data in banking and financial institutions. This report provides a comprehensive summary of the threat landscape for financial institutions, high level overview of rogue device threats, detailed rogue device cyberattacks targeting financial service infrastructure, consequences of rogue device threats, and an action plan for how to address rogue device risk in financial services.
"The security risk to hardware hacking on businesses in the financial services industry is a global problem that we assert is reaching a new heightened level of concern as hackers continue to seek out the most valuable asset in our digitally transforming world ‒ data," said Dr. Edward Amoroso, CEO of TAG Cyber LLC. "As rogue devices initiating attacks have emerged, complete visibility to all hardware assets connected to the internet and internal networks has become a critical component for a strong cybersecurity posture."
"Hardware based attacks on financial service organizations are a force to reckon with, now possessing capabilities rivaling those of nation-state cyber warfare hackers targeting government agencies and critical infrastructure industries," said Yossi Appleboum, Co-Founder & CEO of Sepio. "The findings of this report highlight that the threat implications of rogue device security attacks are not only extremely concerning, but also have potentially crippling impacts on banks and financial institutions with devastating and disruptive consequences to their infrastructure."
To download the report, Overview of Rogue Device Threats to the Financial Services Industry, please visit: https://sepio.systems/resources/research/
To find out more about HAC solutions for financial institutions, visit: https://sepio.systems/solutions/financial-institutions/
Sepio Systems commissioned TAG Cyber, a trusted cyber security research analyst firm, to undertake this research. The case studies and examples used throughout this research note come from published literature regarding rogue device risk and practical experiences of Sepio with customers.
About TAG Cyber
TAG Cyber is a trusted cyber security research analyst firm, providing unbiased industry insights and recommendations to security solution providers and Fortune 100 enterprises. Founded in 2016 by Dr. Edward Amoroso, former SVP/CSO of AT&T, the company bucks the trend of pay-for-play research by offering in-depth research, market analysis, consulting, and personalized content based on hundreds of engagements with clients and non-clients alike—all from a former practitioner perspective. For more information, visit https://www.tag-cyber.com/.
About Sepio Systems
Founded in 2016 by cybersecurity industry veterans from the Israeli Intelligence community, Sepio HAC-1 is the first hardware access control platform that provides visibility, control, and mitigation to zero trust, insider threat, BYOD, IT, OT and IoT security programs. Sepio's hardware fingerprinting technology discovers all managed, unmanaged and hidden devices that are otherwise invisible to all other security tools. Sepio is a strategic partner of Munich Re, the world's largest reinsurance company, and Merlin Cyber, a leading cybersecurity federal solution provider. Learn more: www.sepio.systems.
SOURCE Sepio Systems