Data breaches and security issues plague financial institutions constantly. They are important to safeguard against for the protection of confidential information housed at institutions and for the regulatory exams that expect detailed security plans in place. Douglas Jambor, Vice President and Director of Technology Consulting at Turner & Associates, provides insight into the topic of data breaches and penetration testing. He reviews these security topics, discusses how to implement a plan in the case of a security breach, and how to limit data breach risk exposures to your organization.

1. Presented by: Doug Jambor
Turner and Associates

2.  Financial information company that provides
credit and risk management solutions to
financial institutions
 Data and applications used by thousands of
financial institutions and accounting firms
across North America
 Awards
◦ Named to Inc. 500 lit of fastest growing privately
held companies in the U.S.
◦ Named to Deloitte Technology Fast 500

3. Turner and Associates, Inc., was formed in 1994 in
Columbus, Ohio to address the financial needs of
small businesses and the lending functions of Banks.

4.  Data Breaches
◦ Lessons Learned
◦ Key Takeaways

5.  So, what are data breaches?
◦ Unintended disclosure of sensitive information
◦ Cyber Attacks
◦ Payment card fraud

6.  Data breaches are also caused by:
◦ Malicious insiders
◦ Physical data loss
◦ Portable device loss

7.  Lastly, data breaches could be caused by:
◦ Hardware loss
◦ Unknown data loss

8.  History of the 10 largest data breaches:
1. Shanghai Roadway (March, 2012)
150 Million records
2. Heartland Payment Systems (January, 2009)
130 Million records
3. T.J. Maxx (January 2007)
94 Million Records

9.  History of the 10 largest data breaches:
4. TRW / Sears Roebuck (June,1984)
90 Million records
5. Sony Corporation (April, 2011)
77 Million records
6. Unknown Company (August, 2008)
50 Million Records

10.  History of the 10 largest data breaches:
7. Card Systems (June, 2005)
40 Million records
8. Tianya (December, 2011)
40 Million records
9. Steam On-line Gaming (November, 2011)
35 Million Records

11.  History of the 10 largest data breaches:
10. SK Communications (July, 2011)
35 Million records

12.  2011 was a game changer
◦ Four of the top
10 biggest data
breaches happened
this year

13.  2011 was a game changer
◦ Hackivism come
through the doors

15.  Larry Ponemon
 2012 RSA
Conference in
San Francisco

17.  Can we stop data breaches?
◦ No

18.  What are the primary motives behind data
breaches?
◦ Criminal element & $$$
◦ Verizon 2012 DBIR:

19.  Who is behind data breaches?
◦ Verizon 2012
DBIR:

20.  How do data breaches occur?
◦ Verizon 2012
DBIR:

21. What commonalities exist between data
breaches?
◦ Verizon 2012 DBIR:

22.  Industry groups represented by percent of
breaches
◦ Verizon 2012 DBIR:

23.  Industry groups represented by percent of
breaches
◦ Verizon 2012 DBIR:

24.  Threat agents over time by percent of
breaches
◦Verizon
2012 DBIR:

25.  Compromised assets by percent of breaches
and records
◦ Verizon
2012 DBIR:

26.  Timespan of events by percent of breaches
◦ Verizon
2012 DBIR:

27.  So why are data breaches so damaging?
◦ They impact your organization’s bottom line
◦ Average cost is almost $18K per day
◦ All industries are susceptible data breaches

28.  Average annualized cyber crime cost
weighted by attack frequency
◦ Ponemon:

29.  Percentage cost for external consequences
◦ Ponemon:

30.  Responding to a data breach - percentage
cost by internal activity centers
◦ Ponemon:

31.  What should we consider prior to a data
breach?
◦ Ensure you have developed and tested an Incident
Response Plan

32.  Incident Response Plan
 Step one
◦ Build a response team

33.  Incident Response Plan
 Step two
◦ Assign a lead/liaison

34.  Incident Response Plan
 Step three
◦ Ensure everyone knows their job tasks

35.  Incident Response Plan
 Step four
◦ Create the contact list

36.  Incident Response Plan
 Step five
◦ Create a checklist

37.  Incident Response Plan
 Step six
◦ Document the entire process

38.  Incident Response Plan
 Step seven
◦ Notify customers

39.  How do you limit your exposure to a data
breach?
◦ Perform due diligence on pen testers, internal
auditors, and critical vendors

40.  How do you limit your exposure to a data
breach?
◦ Read penetration test EL

41.  How do you limit your exposure to a data
breach?
◦ Smaller institutions

42.  How do you limit your exposure to a data
breach?
◦ Perform gap analysis of the SANS 20 Critical
Security Controls

43.  How do you limit your exposure to a data
breach?
◦ If you see bad behavior, call it out

44.  How do you limit your exposure to a data
breach?
◦ Invest in security

45.  Data breaches described in today’s webinar
have been publicly reported and easily
available over the Internet.
 Major Sources include:
◦ http://www.ponemon.org
◦ http://datalossdb.org/
◦ https://www.privacyrights.org/
◦ http://www.databreaches.net/
◦ http://www.ftc.gov/
◦ Verizon 2012 Data Breach Investigations Report

46.  Website: www.sageworksinc.com
 Phone: (919)-851-7474 ext. 693
 Helpful links and resources:
◦ www.sageworksanalyst.com/resources.aspx
◦ web.sageworksinc.com/bank-webinars/
 Find us on twitter: sageworksdata