Secure Your Financial Transactions with the Best Security Bill Format for Financial Services

Security bill format for Financial Services

all right I want to thank everybody for joining me today Miriam at Cisco live in Barcelona and I may be talking about security concerns in 2020 specifically for financial services my name is Brian Velasquez and I'm the Global Business Solutions Architect inside of the industry solutions group thank you for joining me today so first of all I want to focus on the most critical threats that are happening inside of financial services today so there's two specific components that I'm going to focus on today and it's rethinking the overall privacy annalistic way as opposed to focus on specific products and looking at your environment from a complete comprehensive perspective for security cisco has many products we have many competitors but we want to ensure that you're focusing on a platform for your approach and not just a specific product the other area that I want to focus on is assessing roles and responsibilities and really assessing how you mitigate your wrist through visibility overall threat protection depending upon which products you choose Cisco's got the platform that can basically accomplish all things and we're really the only the only company that has as many products in video across every layer of security so thank you very much for joining so this is a this is a very simple slide but for me it means a different thing to different people so when I look at these numbers from a security threat perspective what I want to highlight is that what number it calls out to you because what I want to focus on right now is that there's a major impact for financial security breaches that other industries don't necessarily have so you notice that a financial industry breach is typically costing a hundred and forty two percent which is more than other industries but the most critical number that's up on this screen for me is that when you're having a security breach we know that there's a total cost of the security breach well what I want to focus on is that in every breach what we typically see is that you're losing 6.1 percent of your overall customer base so if you think about that as an impact not just in the existing crease but what that does to your total financial impact over the long term that to me is a really important number so I want to focus on that because typically we focus on the total cost of each breach but this is a breach that's forever as you lose that customer the other component that I want to highlight as an engineer a lot of engineers focus on this a hundred and ninety seven days it's surprising still that it takes that long to identify breach breaches in a specific enterprise environment but that's just due to the overall complexity that we currently have today and that number is of course going down we can bring that number down significantly with our overall portfolio but I think it's important for you to identify it that is the end of where the industry is as of 2019 and they go ahead and move on to the next slide so there's there's four specific threat categories that I'm gonna highlight in this presentation and I'll just move down from the top so credentials and identity threat just destructive disruptive malware emerging technologies and then data theft and manipulation I'm going to highlight just a few components I don't have all day to talk about every single malware every single phishing attack but three critical ones that I think called out to me that I want to talk to you about so in the evolution of Forex first I want to talk about the current threats today so typical you think that we only have digital threats but we still have ATM threats where hackers are attacking different ATMs I want to highlight that and then disruptive it ransomware of course Cisco's got a number of products inside of our security landscape to mitigate ransomware and not just security internal for Cisco but also partners of Cisco as well and then I'm going to highlight just a little bit on blockchain cryptocurrency and then as I said the last one basically the overall data theft that is happening inside of security let me give you a few examples so the wind pot is a good example of how hackers are currently attacking traditional ATM devices so there gamifying the security threat so that they can basically drain all of the ATMs inside of inside of an industry-specific environment so we don't think much about the the impact that we have over security for ATMs but this is something that is that I wanted to highlight that there they're turning into almost a gamification almost a jackpot inside of inside of this threat the second thread I want to talk about as in Odette it specifically is a way for for hackers to garnish financial information it's been around for a while and I just want to highlight it even though it's been around for a while not everybody's protected by it and that it specifically is a very costly it's one of the most costly threats that we currently deal with today hey no big deal we'll cut that out so so I'm moving on to a motet second bullet it was originally designed to gain access to confidential information but it's really impactful and just stealing information through emails and garnishing user usernames and passwords to distribute ransomware the last threat I wanted to talk about that I think is unique because I hadn't heard a lot of people talking about this we're talking a lot about blockchain no there's not a lot of financial institutions that are specifically rolling out blockchain internally well I think it's a concern because as we we've seen the hype curve of cryptocurrency and the boom of cryptocurrency we never been we didn't really talk about the security portions of cryptocurrency because it seemed like nobody could impact the overall blockchain because it was distributed well highlighting this is identifying that there was an impact the overall blockchain technology and that's why the evolution of watching is still in its infancy so I just want to highlight that etherium was attacked and in a way that the attacker basically could double spend the cryptocurrency and it's called double spin and in another location gate dot IO specifically was highlighted that they had also been impacted on the on the cost of around two hundred thousand dollars so good information for blockchain for the overall future I just want to highlight four specific areas inside of those categories so multi-party credential compromise targeted destruction and disruption of critical financial systems add virtual and adversarial artificial intelligence we're not necessarily talking about the the negative impact of IAI and it's going to be a very powerful tool as we as hackers utilize AI in a in a security threat and then the last last bullet point there is around data theft manipulation in furtherance of fraud and disinformation operations so that's going to continue on into the future but again the only simple conversation I can have with you around what to do for these future threats is to have a holistic approach one that Cisco is very familiar with so I implore you to do these specific things as you move forward with your with your security environment step one is really to understand your your environment in its current state a lot of companies are siloed across their different security areas and platforms and tools that they have so for me it's the most important thing is to understand where each tool fits make sure that the the different tool owners that are working together understand one another's role and the overall security mitigation for your environment and that that information will be really helpful in the next step which I'm really asking you to write we're here at Cisco live you can walk down the hall and talk to you a lot of our security professionals with TSA si can talk to you through your environment and then also suggest specific components that would be helpful for you today but that would be the my recommendation it's connect with your local Cisco account team and security specialists so that you can get an idea of what what Cisco can do for you today and right now and and then you can see where we can help you moving and the next thing is after you have that conversation the most important thing is really to test the test in your environment any security company and can tell you that they can solve your problems but without testing and really understanding the details of the components you're not going to really be able to take advantage of all the all the capabilities of that security platform and product and with that I appreciate your time again my name is Brian Velasquez and I'm with the industry Solutions Group global business solutions architect focused on financial services and retail thank you very much have a great day