bankingciooutlook

First OT Security Platform for Future Cyber-Attack Prevention

By: Banking CIO Outlook | Friday, January 03, 2020

An OT cybersecurity solution provider has upgraded its security platform, enabling financial institutions to prevent future cyber-attacks.    

FREMONT, CA: "The banking sector continues to be a prime target for organized gangs of cybercriminals. These attacks, which can take the form of ransomware demands or financial fraud are a growing global concern and can often be traced to criminal groups operating in countries that have no workable extradition procedures with the UK. A recent example is a Russia-based hacker group known at Evil Corps which international investigations on the part of the authorities show to have been responsible for alleged 'cyber-enabled bank robberies' in the US and financial frauds elsewhere that are believed to have generated hundreds of millions of dollars worth of financial losses and damage," says Tom Thier, Vice President of Product of SCADAfence. The global technology leader in OT cybersecurity, SCADAfence, has upgraded security to version 6.0.

Today's malware spread inside networks at staggering speeds, and their business impacts are devastating for financial institutions. Therefore, being only reactive is no longer a viable strategy for banks as alignment between OT and IT has never been more critical. SCADAfence's most advanced version 6.0 gives today's OT and IT Security teams clarity into the actual exposure that their network faces even before a cyber-attack can materialize, enabling banks to recognize the potential ways for malware to spread within their network, devices, applications, and protocols. After getting a foothold in the network of the financial institutions, SCADAfence 6.0 enables them to identify the potential of an attack and the way it can be spread, curbing the risks. 

"It is now essential that organizations become proactive instead of merely reactive when it comes to maintaining effective cybersecurity. It is essential that companies identify potential vulnerabilities, exposed assets, and out-of-order connectivity ahead of time," adds Tom. 

SCADAfence 6.0 advances a novel approach to governance and compliance, facilitating the IT and audit departments to define and monitor the organization's adherence centrally to institutional policies. The feature provides a cross-organizational compliance dashboard, measuring the compliance while monitoring the progress made over time across distributed sites. SCADAfence 6.0 comes with a built-in suite of tools with a preventive and proactive focus. OT security teams can now classify mission-critical networks and systems automatically and then get an exceptional view of the network exposure, assessing the vulnerabilities of devices, networks, and protocols.

SCADAfence is the global technology pioneer in OT cybersecurity. The SCADAfence platform facilitates organizations with sophisticated OT networks to embrace the advantages of industrial IoT by mitigating cyber risks and operational threats. The platform offers full coverage of large-scale networks, providing best-in-class detection precision, asset discovery, and user experience with the least false-positives.         

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