#039 & Singapore;s monetary sector likely to stay cyberattack target: Fortinet

The financial services sector in Singapore will probably stay a top goal for cybercriminals in 2017 due to worth and the sensitive nature of fiscal data the business holds, based on cybersecurity company Fortinet.
ST PICTURE: DESMOND WEE

SINGAPORE’S financial services sector will probably stay a top goal for cybercriminals in 2017 due to worth and the sensitive nature of fiscal data the business holds, based on cybersecurity company Fortinet.
These data are “incredibly valuable” on the on-line black market, and cybercriminals are employing new methods to use increasingly sophisticated network environments in the financial services sector, including developing new methods to circumvent security and evade detection, said Thiantara Kruathorn, Fortinet’s country manager for Singapore.
Five cybersecurity tendencies that may happen in the financial services sector this year are predicted by the organization. Included in these are:
* Businesses farther securing the cloud as more info transfer there;

* More financial institutions using Two-Factor Authentication (2FA) to prevent data breaches

* More banks as well as insurance companies procuring the Internet of Things to personalise customer experience
* The authorities getting involved in regulations
* The development of “more intelligent alternatives” for more intelligent strikes