Fraudsters Banking on Phishing

Sophisticated Schemes Target Key Employees
Phishing attempts against bank employees are on the rise. How can institutions improve their defenses? Daniel Ingevaldson of Easy Solutions offers insights on how to combat advanced phishing techniques.

According to the recent ISMG 2013 Faces of Fraud survey, banking institutions are seeing a surge of phishing attempts against their own employees. This is a trend validated by Ingevaldson, CTO of Easy Solutions.

"These attacks are focused on critical employees, executives of banks, people who have specific information that the fraudsters want," Ingevaldson says.

The vector is much the same - an email with a specially-crafted message. The difference: "Sometimes [the attacks] are more insidious and more advanced," Ingevaldson says. "Sometimes they include attachments ... and the intent is to use these attachments to drop malware onto machines to allow the fraudsters to remotely control those devices."

In an interview about how to defend against today's advanced phishing techniques, Ingevaldson discusses:

  • The most common phishing schemes targeting bank employees;
  • Effective solutions for deterring these schemes;
  • How organizations are successfully curtailing phishing activity.

Ingevaldson is Chief Technology Officer of Easy Solutions, responsible for technical strategy and overseeing the research team. He was previously Director of Technology Strategy and oversaw the industry-renowned X-Force R&D team at Internet Security Systems (ISS), which was acquired by IBM for $1.3 billion. Most recently, he was co-founder and SVP of Product Management at Endgame Systems.

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