Financial Institutions are 300 times more likely to be targeted by cyberattacks than other companies, according to a report by Boston Consulting Group. Cyberattacks on financial institutions aren’t limited to direct monetary theft; they could come in different forms, including ransomware and customer data leaks.
Growing Cyberattacks on Financial Institutions
It wasn't long ago when hackers stole $81 million from the Bangladesh Central Bank. This attack was triggered by a malicious file that went undetected with the target of stealing over one billion U.S. dollars. Ironically, the attack was exposed due to a typo, which can't be considered a reliable method to detect file-based threats.
With hundreds of branches and millions of online banking customers accounts, our client handles thousands of documents daily, from KYC (Know Your Customer) forms to loan application attachments. This resulted in a critical challenge for the bank’s IT and cybersecurity departments to ensure all files were adequately scanned, as there was no implementation of a consistent, centralized way to secure incoming files.
Achieving Unified Enterprise File Security
To prepare for the expected sophistication of cyberattacks and the wide variety of attack pathways, our customer deployed a range of OPSWAT solutions to act as a multi-layered defense strategy against such attacks.
Removable Media and USB Scanning
MetaDefender Kiosk™ was deployed, using the MetaDefender Kiosk application, at the entry points where removable media are typically used. Deploying these scanning stations with MetaDefender Kiosk application ensured that every file entering the bank’s systems from a portable storage medium could be conveniently and reliably scanned.
Enforceable Scanning Procedure
To ensure that all the files from removable media were properly scanned and sanitized, scan enforcement technology was needed. As a result, deploying MetaDefender Endpoint Validation on all employee endpoints became essential since it helped ensure that all data was first scanned by MetaDefender Kiosk. It also helped detect and block USB drives disguised as HIDs (human interface devices), such as keyboards.
Website File Scanning
To ensure the safety of the files uploaded on the bank’s web portal, MetaDefender ICAP Server™ was deployed using a reverse proxy. This configuration enabled efficient and scalable scanning and sanitizing for all incoming files at the network perimeter, before they reached the bank's internal servers.
Secured File Transfer
With the deployment of MetaDefender Kiosk and MetaDefender ICAP Server, a secure managed file transfer mechanism was necessary. The seamless integration of MetaDefender Managed File Transfer™ with both MetaDefender Kiosk and MetaDefender ICAP server filled this gap, providing an additional layer of protection.
MetaDefender Kiosk, supported by MetaDefender Managed File Transfer and MetaDefender Endpoint Validation, made it easy for our employees to transfer USB files securely. We’ve successfully eliminated this entry point for file-borne malware entering our protected environments.
IT Operations Director
Multi-Layered Security for Modern Banking
The deployed solutions in the South Asian bank’s environment included 12 scanning engines, which were proven to reach up to a 92.3% malware detection rate. The technologies included in the deployed solutions helped increase protection beyond malware detection rates, such as Deep CDR™ to sanitize and reconstruct files while maintaining their usability, Proactive DLP™ to prevent potential data breaches, Adaptive Sandbox to detonate and analyze malware in a controlled environment, and Country of Origin detection to support and maintain regulatory compliance. With the high detection rates of multiple scanning engines, combined with these technologies, the bank could reach nearly 100% detection rates.
Achieved Secure File Uploads
MetaDefender ICAP Server has enabled efficient and thorough processing of all files uploaded via the bank’s website. With over 180 file types supported, those files are now ensured to be safe to use before reaching the bank’s systems and being available for download.
Enforced Removable Media Protection
With the deployment of the MetaDefender Kiosk, supported by MetaDefender Endpoint Validation, the bank can now control data flows in multiple touchpoints. Managing and tracking the scanning status and the detected potential threats are all performed from the web-based MetaDefender Kiosk Management Console.
We have tried multiple solutions to protect our systems from external file-borne threats, but struggled to find one that was not only secure, but scalable and efficient. The ICAP server integration with its Adaptive Sandbox capability solved that problem. It catches malicious payloads and has prevented them from activating on our systems.
Senior Cybersecurity Specialist
Upgrade Your Critical Network Protection
OPSWAT’s integrated solutions protect sensitive IT and OT assets from cyberattacks and ensure operational continuity and regulatory compliance. To learn more about OPSWAT solutions and how they can secure your critical infrastructure networks, get in touch with an expert today.
