April 15, 2021
Cyber Attacks on Financial Institutions Expected to Spike in 2021, but the Silver Lining is in the Cloud
Craig Pabich | Global Banking & Finance Review | April 14, 2021
Time 6-8 minute read
"These (Ransomware) attempts can mean 233 days of negotiation or downtime for financial institutions and carry a nearly $4 million price tag—a figure that has increased by 10% since 2014."
The risk of cyberattacks affecting smaller banks can be significant. Are your backups in order, and do you have a tested plan to recover those backups? This article covers some of the cybersecurity challenges banks will face in 2021. This article mentions the saving grace coming in the form of the cloud, but which cloud product is appropriate for your Kansas bank? Luckily, KBT has experience with cloud technology and can give insights into our experiences with it. Please contact us to begin a conversation in keeping your bank safe in 2021
April 9, 2021
Flagstar's data breach and what banks can learn from it
Penny Crosman | American Banker | March 15, 2021
Time 6-8 minute read
"The incident is a reminder that though banks generally have top-notch security, they are still vulnerable to threats involving the software they use and the third-party vendors with which they work, and even the vendors with which those vendors work."
It's an excellent point that banks are usually more secure than other businesses, but on the other hand, they generally have a more appetizing prize if compromised. In this case, this bank had data stolen and released only some customer information publically. Then they began to extort the bank to see if they could make some money if the bank didn't pay. An interesting statistic in this article is that 49% of banking customers polled said they consider a bank's security the primary reason for choosing a bank. Another 30% said that it's essential. Do customers believe that your bank is secure? If you want to have a conversation about improving your bank's security, please contact us.
March 31, 2021
Kevin Curran| Global Banking & Finance Review | March 31, 2021
Time 2-3 minute read
"Many network breaches are caused by email phishing, which has increased by 350% in just one year."
This article does a great job of pointing out how important it is for employers to make sure their employees are informed on the internet's security practices. KBT has recently hired Larry Billinger as their Director of Instruction to help banks with just that. KBT can help banks educate their employees on recognizing email phishing, data sharing best practices, and keeping strong passwords. If your Kansas bank needs any training to meet your examiner's requirements, please contact us for information.
March 24, 2021
IANS | March 23, 2021
Time 2-3 minute read
"Nearly 40 percent of those surveyed said they feel more comfortable bringing their full selves to work than before the pandemic, and one in six have cried with a colleague this year." Jared Spataro
While 75% of workers want to leave their home offices to return to their Microsoft office (lowercase office), this number may likely represent the opinions of many others around the country. However, there are still 25% of workers wanting to continue working from home. While there are stories of many Kansas Banks stitching together some form of plan to allow their employees to work at home, they did so by elevating their security risk. Even if your bank is back up and running at full capacity with all of your employees working back at their branches, shouldn't you want your bank to be prepared to have your employees work from home again, but without the increased risk of the bank's security? If this is something you would be interested in, please contact us for more information. We can help.
March 11, 2021
Michael Aliperti | CIS Security | March 10, 2021
Time 4-5 minute read
“Spring is not just a good time for cleaning your house or apartment, it’s also a good time to clean up your technology and cyber footprint.”
CIS has published set a great reminder to clean some of your digital assets. This is more of a checklist with a password, email, application, social media, closed accounts, desk (non-digital), backups, device updates, and proper disposal of all the stuff you throw away. This is a very short read, and I highly recommend taking the five minutes to read this through. For more tips like this and help keeping your devices up to date or help make sure backups are running smoothly, contact us, and we can help.
March 4, 2021
Exchange Server Attacks Spread After Disclosure of Flaws
Time 6-7 minute read
If you host a Microsoft Exchange server, it is crucial you must check your server to ensure it hasn’t been taken advantage of by one of the bad guys. The latest attack can send backdoor emails, install ransomware, and crypto miners are affecting government agencies and businesses large and small, and schools worldwide. This article ends by stating that similar attacks to this one have in the past allowed attackers to take over other systems on networks allowing permissions to sensitive data as well as permissions to settings. If you are a Kansas bank and think you might be vulnerable to attacks like these, please contact us for guidance. We can help.
March 2, 2021
Jeff Axelrad | Global Banking and Finance Review | March 2, 2021
Time 7-8 minute read
Is the cloud a safe place for banks wanting to transition their data? Well, this article may provide some answers to that question. While this article is primarily about Amazon Web Services' services because someone in that organization wrote it, AWS is not the only cloud-based service provider out there. At KBT, we can recommend a wide variety of different cloud services to help meet your Kansas Bank needs, whether it's for file storage, backup and retention, antivirus, or others. If you would like to know more about how transitioning your Kansas bank to cloud services can benefit your organization, please contact us to schedule a meeting.
February 26, 2021
Time 8-10 minute read
Many people who have their systems attacked often wonder how or why it was attacked. This article does a good job explaining some of the vulnerabilities found in systems that allow for ransomware and malware attacks. The first item listed in this article is Victim Vetting. Most successful attackers are most likely scouting their victims out before they attack them. This is why it’s essential to be careful when replying to emails from people you don’t know. This simple reply to an email can garner much-needed information, such as your domain, signature card, and much more, which can then be used against your Kansas bank as a phishing attack to get someone to transfer funds to a bank account set up by the attackers. This could also be done to have the banker click on a link in the email that sends malicious code to the computer to exploit any vulnerabilities on your system, if there are any. KBT thrives on keeping Kansas Banks safe and wants employees to be educated on these types of attacks. For more information, please contact us.
February 23, 2021
Nadav Avni | Global Banking & Finance Review | February 22, 2021
Time 7-9 minute read
One of the most interesting statistics in this article states that 70 million devices or stolen annually. The answer to this problem is installing Mobile Device Management. Kansas Bankers Technologies provides MDM solutions that can create company-wide policies for any employees who install bank email applications or other work-related applications on their mobile devices. If a device is lost or stolen, you can locate and disable the widget. If an employee ends their employment with the bank and you don’t have access to their mobile device, you can delete any banking applications off their phone. For more information on protecting mobile devices or laptops being sent home with bank employees, please contact us for more information.
February 17, 2021
CSO | February 17, 2021
Time 11-14 minute read
What should we expect in the form of attacks on banking networks and computers in 2021? Well, according to this opinion piece, the increase of phishing and ransomware attacks will continue to rise yet again, and the technology used to perpetuate those attacks will continue to become more sophisticated in an attempt to outwit security hardware and policies. Most curiously, this article describes the intent of those attacking by using ransomware. The attack doesn't instantly encrypt the files on a user's computer. Instead, the business's data is uploaded to the bad guy's servers, where it can be hijacked and used for other nefarious purposes. After the information is in their hands, they deploy the ransomware on your computers. Even if you pay the ransom, there is no guarantee of what will happen to your stolen data, as the bad guys can make even more money selling that data on the dark web. 2021 will no doubt be a challenge in staying ahead of the bad guys. Contact us to explore your Kansas bank's network and systems to help identify security weaknesses.
February 8, 2021
Kristina Knight | BizReport | February 2, 2020
Time 2-3 minute read
A concise but informative recap of a study published by The Keeper on findings that cybercriminals were targeting finance more than any other industry. This might be explained logically because finance has more money to give to those organizing ransomware and phishing attacks. As previous reports have shown, the increase in attacks to the finance sector has to some part been caused by COVID-19 sending employees home to work on devices and networks that are less secure than their banks. If you Kansas Bank or Credit Union needs help in increasing cybersecurity, we have the knowledge and tools to help. Please contact us for more information.