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Banks are so concerned about assaults from a proliferating number of computer viruses and phishing attacks that they have rallied together under the auspices of industry associations such as BITS and the Financial Services Roundtable to prod their software providers into creating products that are not so open to attack.
Banks now find themselves in the position of placing patch upon patch in an environment where their software systems often arent well integrated to begin with. This patchwork approach increases the vulnerability of financial institutions to new threats and exposes them to unintended consequences from the patches they have applied.
But information technology and security managers should not restrict their efforts to these technological fixes alone. They also need to layer in a “defense-in-depth” system to prevent viruses and hackers from attacking their systems in the first place. Read the entire Banking Strategies article here.