Blog

Wednesday 18th July 2018
by Simon Golding

Simon Golding

How to meet security requirements in the financial sector

Security and compliance are two of the biggest challenges for the financial services industry.

meet security requirementsInformation security threats increase daily and the extent of your risk from those threats is directly related to the strength of your security measures.

In order to determine how best to meet security requirements in your financial services business, here are short answers to three of the most asked security and compliance related questions in your sector.

  1. How do you reduce the risk of account misuse, identity theft and privilege escalation?

You need to eliminate security holes by improving account control. You need to easily see which accounts are in use and check your existing user and computer accounts to identify temporary, recently enabled, inactive, expired and locked accounts. Once you have identified those then you can act accordingly – for example delete inactive accounts or monitor user account lockouts (which can be a sign of malware).

  1. How can you quickly detect automated attacks and fraudulent activity by insiders or external agents?

You must have complete visibility into everything happening across your financial institution’s IT infrastructure. Proactive alerts will facilitate the timely detection of weaknesses in your data protection as well as potential attacks in progress, insider threats and policy violations. You should to be able to detect database modifications and identify potentially fraudulent intentions by reviewing logon activity.

  1. How can you cut the time and effort required to prepare for regulatory audits, while also achieving good results and improving your grade?

Your ability to effectively respond to auditors’ requests affects your assessment significantly. To pass audits, you must demonstrate compliance in operation. To do this you need to be able to search your data to quickly address potential issues in your auditors’ checklists. This will enable you to reduce your overall preparation time. And wouldn’t it be ideal to have out-of-the-box compliance reports designed to address the specific compliance requirements that your organisation is subject to?

Netwrix Auditor from Trilogy Technologies helps you address all these questions and more. It enables your IT team to quickly identify the root cause of a detected incident to resolve the issue and protect your organisation from financial losses and reputation damage.

Download the ebook for further details.

 

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