How Upgraded OT Security Platform Can Strengthen Banking Cybersecurity?

Enterprise Security Magazine | Tuesday, January 14, 2020

OT cyber solution providers tend to upgrade their existing security platform for enabling the financial institutions to prevent future cyber-attacks.

FREMONT, CA: The Vice President of Product of SCADAfence, Tom Thier, says that the banking sector is a prime target for cybercriminals. Cyber attacks can turn into financial fraud or ransomware demands, which has become a global concern. A Russian hacker group, Evil Corps, shows the responsibility for alleged 'cyber-enabled bank robberies' in the US, believed to generate financial loses and damages worth hundreds of millions of dollars. SCADAfence, a global technology leader, upgrades the security version to 6.0 for fighting against cyber threats.

Today malware spread inside networks at tremendous speeds, and their business results are overwhelming for financial companies. Therefore, being only reactive is no longer a viable approach for banks as adjustment between OT and IT is highly critical. SCADAfence's 6.0 version provides clarity into the actual exposure about their network that faces cyber-attack, even befpore materialization. The solution enables banks to understand the possible ways for malware to expand within the OT and IT Security teams' systems, devices, applications, and protocols. After getting a firm hold to the financial institutions' network, SCADAfence's 6.0 version enables them to recognize the potential of the experiencing attack and trace its way of spreading.

Tom also believes that it is essential for organizations to become proactive instead of merely reactive while maintaining effective cybersecurity. The companies must recognize potential vulnerabilities, exposed assets, and out-of-order connectivity ahead of time.

SCADAfence 6.0 introduces a novel approach to governance and compliance, promoting the IT and audit departments to establish and control the organization's adherence centrally to institutional policies. This function gives a cross-organizational compliance platform that can measure compliance by monitoring the progress across distributed sites. SCADAfence 6.0 offers a built-in suite of tools with a defensive and proactive aim. With the help of such a suite, the OT Security teams can classify mission-critical networks and systems automatically, which accesses an exceptional view of the networks, devices, and protocols vulnerability.

SCADAfence is a global technology pioneer in OT and IT cybersecurity. SCADAfence's platform facilitates organizations with advanced OT networks while embracing the advantages of industrial IoT and mitigating cyber risks and operational threats. The advanced platform offered by the company covers large-scale networks, which provide market-best detection accuracy, asset discovery, and user experience.

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