Because malware prefers money… SecurityScorecard has released the Financial Cybersecurity Report, for 2016. It is a cybersecurity report, with comprehensive analyses presenting the security vulnerabilities of 7,111 financial institutions worldwide.
This includes investment banks, asset management companies, as well as large commercial banks.
Among the findings of the report are the following observations:
- US Commercial bank has the lowest level of security and is one of the top 10 financial services in the US (by revenue).
- Only one of the top 10 banks, Bank of America, received an overall grade of “A.”.
- 95 percent of the top 20 U.S. commercial banks (by revenue) received a “C” or lower in network security.
- 75 percent of the top 20 US commercial banks (by revenue) have been infected with malware, and a number of malware families have been discovered, such as Ponyloader and Vertexnet.
- Nearly 1 in 5 financial institutions use an email provider with serious vulnerabilities.
- The best-protected banks were: Goldman Sachs, Exchange Bank, BNP Paribas Fortis and Banco Popolare.
Each U.S. financial institution was rated based on its comprehensive security and security response time compared to other financial institutions.
The conclusions and scores reported in the report are based on data from SecurityScorecard's security assessment platform.
The company also specifically analyzed the security of Scottrade, Bangladesh Bank, and CharlesSchwab, which were victims of data breaches.
The analysis contains details about data breaches as part of a holistic view of vulnerabilities encountered in the financial industry.
