News

10:36 AM
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

Looking for a Long Term Fix for Heartbleed

Banks need to start extending some of their customer-facing security solutions and protocols to their own internal networks.

Saying that there isn’t one quick fix or silver bullet solution for cyber security concerns has become common practice in financial services. The cyber fraud landscape is growing more complex and sophisticated, requiring a multi-layered approach to security that includes front end authentication and back-end monitoring and analytics.

Now that the Heartbleed vulnerability has been added to banks’ growing list of cyber security concerns, it’s time that banks start taking a similar multi-layered approach to their own networks, says Terry Austin CEO of Guardian Analytics, a fraud analytics solutions provider.

“As a security professional, you can’t trust authentication and malware protection anymore, because criminals can get into the network and look like legitimate users now with authentication credentials and access to your network,” Austin remarks.

[For More On Security and Data Breaches: Breaking Down the Impact of the Target Breach]

Looking for criminals simply isn’t enough anymore, and instead need to focus on analyzing user behavior and looking for anomalies in log-ins and actions, he advises. Many banks are already doing that with customer-facing offerings like online banking. But Austin believes that the Heartbleed vulnerability will drive banks to do the same thing with their own internal networks, analyzing the behavior of employees and partners and looking for odd behavior that could indicate a criminal has access to the network.

“We have yet to see all the breaches from the vulnerability and it’s full impact. I think this will definitely put pressure on the banks… We are already having discussions with banks on working to protect employees and partners working in their networks,” Austin shares.

Banks should first work to address the Heartbleed vulnerability by patching their internal hardware for the vulnerability and encourage their customers to change their passwords, Austin advises. They should then ensure that they have transaction monitoring and behavioral analytics in place on the back-end of their customer-facing applications. Finally, they need to investigate their internal IT security protocols to protect themselves from a compromise there. “No bank wants to have a mass Target-style breach,” Austin explains.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
4/28/2014 | 8:50:41 PM
re: Looking for a Long Term Fix for Heartbleed
I saw a list of sites that users should change their names and one of the major banks was on it. I think it's more of a precautionary though. Really you should probably be going through and changing all of your passwords, especially if you're using the same passwords for multiple sites.
KBurger
50%
50%
KBurger,
User Rank: Author
4/28/2014 | 8:20:24 PM
re: Looking for a Long Term Fix for Heartbleed
I'm intrigued that Terry says that, in the wake of Heartbleed, banks should advise their customers to change their passwords, as my understanding is that banks for the most part have said that their systems were safe from Heartbleed -- that it was more e-commerce sites that were affected.
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: Janice, I think I've got a message from the code father!
Current Issue
Security Operations and IT Operations: Finding the Path to Collaboration
A wide gulf has emerged between SOC and NOC teams that's keeping both of them from assuring the confidentiality, integrity, and availability of IT systems. Here's how experts think it should be bridged.
Flash Poll
New Best Practices for Secure App Development
New Best Practices for Secure App Development
The transition from DevOps to SecDevOps is combining with the move toward cloud computing to create new challenges - and new opportunities - for the information security team. Download this report, to learn about the new best practices for secure application development.
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.

Dark Reading Radio
Archived Dark Reading Radio
In past years, security researchers have discovered ways to hack cars, medical devices, automated teller machines, and many other targets. Dark Reading Executive Editor Kelly Jackson Higgins hosts researcher Samy Kamkar and Levi Gundert, vice president of threat intelligence at Recorded Future, to discuss some of 2016's most unusual and creative hacks by white hats, and what these new vulnerabilities might mean for the coming year.