Top Online Banking Threats to Financial Service Providers in 2010

Top Online Banking Threats to Financial Service Providers in 2010 Securing a financial services network environment can be a daunting challenge. At issue is not only meeting the basic business requirement of ensuring that a customer's financial information remains private and secure, but to do so in accordance with the variety of regulations that have been implemented by state and federal governments, and the credit card industry as well. Security breaches can have a far-reaching impact to not only a company's finances, but to their reputation as well. Companies are required to prove their compliance with these regulations and will be held liable for their failure to do so. Offering a wider range of online services alone will not be sufficient to reduce customer churn; it must be accompanied by enhanced security features that provide the customer with confidence and, in turn, results in winning their long-term trust and loyalty.

It is, therefore, essential that financial services providers take a proactive approach to identifying potential cyber attack threats and the areas of vulnerability within their own infrastructure. To aid in this process, this paper will provide insight into the top five threats to the financial services industry and SafeNet's recommended solutions for a defense that not only provides a secure transaction environment for customers but also satisfies stringent government and industry compliance regulations.

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