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New Challenges in Data Privacy - Cybercrime and Cybersecurity Forum 2013, Sofia BG

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A brief overview of the cyber crime phenomenon, the internet threat landscape, lessons learned and what we can do about it.

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New Challenges in Data Privacy - Cybercrime and Cybersecurity Forum 2013, Sofia BG

  1. 1. New challenges in Data privacy. Zdravko Stoychev, CISM CRISC Information Security Officer Alpha Bank Bulgaria branch South East European Regional Forum on Cybersecurity and Cybercrime, 2013 11-13 Nov 2013 Sofia 1
  2. 2. CYBERCRIME FORUM Alpha Bank  Founded in 1879.  The Bank grew considerably in the last decades, developed into a major Group offering a wide range of financial services.  In 1999 the bank acquired 51% of the shares of the Ionian Bank. The name of the enlarged, new Bank, resulting from this merger is ALPHA BANK.  On February 1, 2013 the entire share capital of Emporiki Bank S.A. has been transferred to ALPHA BANK.  ALPHA BANK is one of the largest banks in Greece. The Bank's activities cover the entire range of financial services. South East European Regional Forum on Cybersecurity and Cybercrime, 2013 2
  3. 3. CYBERCRIME FORUM Agenda  Current landscape   Trends & Statistics The Internet Security  Posed challenge    Fighting Cybercrime Home vs. Enterprise Global vs. Country  Lessons Learned   Factors That Contribute What Can We Do  Summary South East European Regional Forum on Cybersecurity and Cybercrime, 2013 3
  4. 4. CYBERCRIME FORUM Threat Landscape Internet – a global shared domain “The scale of DDoS attacks continue to expand” “Web sites of security companies hacked by Anonymous” “The damage done by cybercrime increased by 50%” “Barely 4% of (UK) companies trust their IT security” “The yearly average cybercrime cost per company in USA increased by 78% in the past 4 years” “The goals under attacks of this week [Dec 2012]: U.S. Bancorp, JPMorgan Chase&co, Bank of America, PNC Financial Services Group, SunTrust Banks, Inc.” South East European Regional Forum on Cybersecurity and Cybercrime, 2013 4
  5. 5. CYBERCRIME FORUM Down to Rabbit-Hole The DDoS attacks achieved traffic per second 60% 50% 40% 30% 2013 2012 20% 10% 0% ~1Gb 2-10Gb Source: Arbor Networks South East European Regional Forum on Cybersecurity and Cybercrime, 2013 5
  6. 6. CYBERCRIME FORUM Down to Rabbit-Hole  Attacks with duration under a hour: 87%  Average time to mitigate the attack is on: 130% increase  Less victims reported but the cost is on: 50% increase where  BYOD users constantly online: 49%  Smartphones and tables w/o unlock PIN: 48% Source: Arbor Networks , Ponemon Institute, Symantec South East European Regional Forum on Cybersecurity and Cybercrime, 2013 6
  7. 7. CYBERCRIME FORUM Internet Security Threats Cyber threats and Internet attacks are difficult to characterize and respond to for a number of reasons:  There are many different malicious actors.  These actors have many different motives.  The attacks look similar, so the nature of the attack does not always help to identify the actor and the motive.  Incident Handling Team will be required in place to manage the attacks on per case basis.  The speed of attack may overwhelm response methods that require human interaction.  The potential consequences of an attack can be hard to predict.  The worst-case scenarios are alarming. Source: Collective Defense Applying Public Health Models to the Internet South East European Regional Forum on Cybersecurity and Cybercrime, 2013 7
  8. 8. CYBERCRIME FORUM The Posed Challenge  Cyber crime is a fast-emerging threat and cyber attacks are being recognised as a threat to national security.  The most commonly reported crime is the theft of financial login credentials, i.e. Web and mobile banking.  The biggest and most common motivation is the financial gain.  It drives a range of criminal activities, including phishing, pharming, malware distribution and the hacking of corporate databases.  Cyber crime is a truly global criminal phenomenon which does not respond to single jurisdiction approaches to policing.  Cyber crime is forcing us to rethink the basic skills needed for the job, i.e. we need more Forensic Investigation specialists.  Organisations need to assess the likelihood of being the target and then defend against the techniques the most commonly use. Source: Infosecurity Europe 2013, Global Economic Symposium South East European Regional Forum on Cybersecurity and Cybercrime, 2013 8
  9. 9. CYBERCRIME FORUM Home and Enterprise Threats Source: Microsoft South East European Regional Forum on Cybersecurity and Cybercrime, 2013 9
  10. 10. CYBERCRIME FORUM Lowest Infection Rates Trends Source: Microsoft South East European Regional Forum on Cybersecurity and Cybercrime, 2013 10
  11. 11. CYBERCRIME FORUM Where Are We as a Country Source: Microsoft South East European Regional Forum on Cybersecurity and Cybercrime, 2013 11
  12. 12. CYBERCRIME FORUM Lessons from Least Infected Countries/regions Factors that contribute to consistently low infection rates:  Strong public–private partnerships exist that enable proactive and response capabilities.  Computer emergency response teams (CERTs), Internet service providers (ISPs), and others who actively monitor for threats enable rapid response to emerging threats.  Enforcement policies and active remediation of threats via quarantining infected systems on networks in the country/region is effective.  An IT culture in which system administrators respond rapidly to reports of system infections or abuse is helpful.  Educational campaigns and media attention that help improve the public’s awareness of security issues can pay dividends.  Low software piracy rates and widespread usage of OS Update/Update has helped keep infection rates relatively low. Source: Microsoft South East European Regional Forum on Cybersecurity and Cybercrime, 2013 12
  13. 13. CYBERCRIME FORUM What Can We Do About It  Deploy security in multiple layers  Collaborate with CERTs, ISPs and others  Seek public–private partnerships  Ensure enforcement of security policies  Run corporate educational programs  Raise public’s awareness of security issues  Well-known security tools may be outdated  Utilize security analysis on network-level e.g. BigData processing for trends detection, etc. Source: Arbor Networks, Ponemon Institute South East European Regional Forum on Cybersecurity and Cybercrime, 2013 13
  14. 14. CYBERCRIME FORUM Summary  The threat landscape continues to become more complex and mixes various threats to increase the likelihood of success.  Awareness can secure humans by changing behaviors.  Re-tool and incorporate next-generation technology.  Collaboration, public-private relationships, early-warning systems and real-time knowledge are needed.  Security, thus data privacy, is everybody`s business. South East European Regional Forum on Cybersecurity and Cybercrime, 2013 14
  15. 15. Questions? Thank you! Zdravko Stoychev, CISM CRISC Company Information Security Officer Alpha Bank Bulgaria branch Email: zstoychev@alphabank.bg Twitter: @zdravkos 15

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