The financial sector is going through a personal data theft crisis due to the increase in the use of mobile devices, factors that are exploited by cybercriminals to commit fraud and obtain monetary gain

Cyber ​​attacks have evolved drastically in the last two years in line with the digital wave, they are increasingly sophisticated and find the most significant vulnerabilities in their favor, such as the peculiarities of mobile devices and Internet connections, among others.  

Situating ourselves today we can find the Russia/Ukraine conflict as a scenario where cyber attacks demonstrate their power and ability to adapt to trending topics, recently a series of attacks on various websites of the Ukrainian government and banking departments were reported, which sometimes they have caused the total collapse of your system.

In addition to this, we live in a context where data protection has never been as important as it is now.  

The need to protect personal data is imminent, and now thanks to the advancement of technologies such as Big Data, users are increasingly aware of the power of personal information and the way it can impact their lives if it is in the wrong hands.

Given these facts, the financial sector joins this concern as one of the main affected in recent years.

Financial Institutions: A Prime Target 

During the pandemic, it was possible to identify that a large part of the cyberattacks are directed at this sector. A report by the Bank for International Settlements (BIS) revealed that:

• The financial sector has been hit by hackers relatively more frequently than other sectors during the pandemic. In this, the transfer of work to home would have affected.

• There are substantial risks of cyberattacks for institutions, their staff and their clients in the future.

• The financial sector has the highest proportion of cyber events classified as related to Covid-19 in recent months. Some are phishing and malware attacks respectively; explicitly using the uncertainty surrounding the pandemic to entice users to open fraudulent attachments or grant access to network attackers.

• Payment companies, insurers and credit unions have been especially affected. 

As an initial conclusion, we found that these cyber attacks directed at this sector rest on the factor of remote work and, therefore, on the increase in the use of mobile devices by employees.

The main challenge is to provide the technological mobility tools for this sector to carry out its operations, without compromising personal data that could endanger its integrity and that of the organization itself.  

Due to the complexity involved in countering the cyber threats that are directed at this sector, decision makers understand the need to provide mobile devices that are adapted to these very specific needs,

Mobilizing The Financial Sector 

Aware of the need for a mobility proposal that meets the most specific security, collaboration and availability needs in all productive sectors, including the financial sector,

This solution is our value proposition focused on mobile devices, ideal for generating a secure mobile ecosystem, bringing remote collaboration to the highest level of security and availability, suitable for different types of users and focused on the role they perform within the organization

Within the use cases we find banks, financial institutions and loans due to the usability of the solution, since we manage to replicate in a mobile device, the same tools, resources and levels of security that today they maintain in a fixed office equipment. Enabling employees to access their everyday business applications and tools in a secure, reliable and highly available way and to extend their access to their data, voice and messaging services. 

It allows you to monitor mobile devices and the proper use of company resources and access key services remotely, ensuring the privacy of your data at all times. With a single security proposal that goes from the device, the connection and the content. 

Also Read: Mobile Management Systems In The Warehouse And Retail Supply Chain