3rd Party Risk Management , Account Takeover Fraud , Application Security & Online Fraud

Modern Bank Heists: Attackers Go Beyond Account Takeover

Tom Kellermann of VMware Carbon Black on Fraud Trends and Essential Defenses
Tom Kellermann, head of cybersecurity strategy, VMware Carbon Black

Brokerage account takeover, supply chain attacks, destructive attacks and those that seek to manipulate time or time stamps are among the latest threats uncovered in the new Modern Bank Heists report authored by Tom Kellermann at VMware Carbon Black.

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"There are two headlines," says Kellermann, head of cybersecurity strategy. "One is we've seen a dramatic escalation of destructive attacks and counter-incident response. And the other is that cybercriminals and cybercrime cartels have realized that the most significant asset of a financial institution is not wire transfers or the access to capital; it's nonpublic market information."

In this video interview with Information Security Media Group, Kellermann discusses:

  • The latest attack trends for modern bank heists;
  • How adversaries continue to innovate and evolve;
  • Essential defensive moves all financial services firms must implement.

Kellermann is the head of cybersecurity strategy for VMware. He previously served as the chief cybersecurity officer for Carbon Black, which VMware acquired. Earlier, Kellermann founded and served as CEO of Strategic Cyber Ventures. In 2020, he was appointed to the Cyber Investigations Advisory Board for the U.S. Secret Service. Since January 2017, he has also served as a global fellow for cyber policy at the Wilson Center. Kellermann also previously held senior cybersecurity positions at Trend Micro and the World Bank Treasury, and he served as a commissioner on President Obama's Commission on Cyber Security.

About the Author

Tom Field

Tom Field

Senior Vice President, Editorial, ISMG

Field is responsible for all of ISMG's 28 global media properties and its team of journalists. He also helped to develop and lead ISMG's award-winning summit series that has brought together security practitioners and industry influencers from around the world, as well as ISMG's series of exclusive executive roundtables.

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