Why do financial institutions need security?

No bank or other financial institution would consider using a regular pick up truck and forgo security guards for the transport of their money. Yet many financial institutions are doing the technological equivalent by not implementing enterprise level network security solutions.

The regulatory framework that affects all financial institutions makes it essential that privacy is protected and that the security of network transactions can be demonstrated and verified. In the US FFIEC guidelines require online banks to have a minimum level of security, and many other countries around the world have similar guidelines in place. The fully integrated approach of the Astaro Security Gateway ensures single-point administrative control and accountability for network transactions an essential requirement for ensuring compliance with financial regulations No financial institution can afford to overlook network security.

As security breaches become more common, the public and to some extent the government has begun holding banks accountable for these breaches. Financial institutions need network protection, web filtering, and email security as well as Intrusion Prevention Protecting financial institution from external threats is crucial; however, financial organizations also need to protect themselves from internal breaches.

The majority of breaches originate from accidental downloads of malicious content by employees. Content filtering capabilities allow financial institutions to block access to websites with malicious content and prevent threats from being downloaded in the first place. If a computer on the network somehow becomes infected. Proactive notifications and quarantines of network traffic breaches and infections allow network administrators at financial institutions to react to breaches before infections spread to the entire organization.

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The original article/video can be found at Why do financial institutions need security?

About the Author: Shannon Lewis

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