Espionage cited as the US Federal Reserve reports 50-plus breaches from 2011 to 2015 by Grant Gross.
Grant’s report has even fewer specifics than Fed records show dozens of cybersecurity breaches, which at least had these graphics:
My take away from Grant’s report is the Fed had cybersecurity incidents. Full stop. How does that compare to other financial institutions? Don’t know, no one says. What happened as a response to those attacks? Don’t know or at least no one says. (Security by obscurity.)
The high point of Grant’s article was this passage:
The banking system is often a “hard target,” but the potential rewards are high for attackers who have a sophisticated skill set, added Richard Ford, chief scientist at security vendor Forcepoint. “There’s a certain brand of attacker who loves going after banks,” he said. “That’s really where the money is.”
Something we can all agree on and quite possibly, that’s becoming common knowledge.
After the SWIFT attacks, you have to wonder if the ‘hard target’ reputation of banks and the finance sector is bluff and bravado or something more serious?
So long as security by obscurity is SOP (standard operating procedure), that question will go unanswered, until it is too late.