In the financial sector, data isn’t just numbers—it’s the foundation of trust. That’s why cybersecurity metrics are crucial. They provide a clear view of your security health, helping you protect what matters most.
Key Metrics for Financial Institutions:
- Ransomware Defense:
- Track backup integrity (e.g., “Frequency of successful data restores”), vulnerability patching (e.g., “Average time to patch ransomware-related vulnerabilities”), and employee awareness (e.g., “Percentage of employees completing ransomware awareness training”).
- Ransomware attacks are becoming increasingly sophisticated and targeted. Cybercriminals are not only encrypting data but also exfiltrating it for double extortion.
- Phishing Attack Prevention:
- Monitor phishing detection rates (e.g., “Number of phishing emails blocked per month”), employee reporting rates (e.g., “Percentage of employees reporting suspicious emails”), and success rates of simulated phishing campaigns (e.g. “Percentage of employees who did not click phishing links in simulated campaigns”).
- Phishing attacks are becoming more personalized and difficult to detect. Cybercriminals are using social engineering techniques to trick employees and customers into revealing sensitive information.
- Cloud Security:
- Analyse access controls (e.g., “Number of unauthorized cloud access attempts”), configuration vulnerabilities (e.g., “Number of misconfigured cloud resources”), and data encryption status (e.g., “Percentage of cloud data encrypted at rest and in transit”).
- Misconfigurations, weak access controls, and data breaches in the cloud can lead to significant financial and reputational damage.
- Third-Party Security:
- Track third party vendor risk assessments (e.g. “Percentage of vendors with up to date security assessments”), and monitor for anomalies in data transfer (e.g. “Number of unexpected data transfers to third parties”).
- Cybercriminals are targeting these vendors to gain access to sensitive data.
- Data Exfiltration Prevention:
- Monitor data loss prevention (DLP) alerts (e.g., “Number of DLP alerts triggered per month”), user behavior analytics (UBA) anomalies (e.g. “Number of flagged unusual user access patterns”), and network traffic analysis (e.g. “Volume of unusual outbound network traffic”).
- Data exfiltration can lead to regulatory fines, customer churn, and loss of trust.
Dashboards:
- Visualize key metrics for real-time insights, such as a dashboard displaying the “Real-time status of critical security controls” and “Trends in fraud detection rates”.
Threats to Watch:
- Ransomware
- Phishing Attacks
- Cloud-based Attacks
- Third-Party/Supply Chain Attacks
- Data Exfiltration
Proactive security, training, and continuous monitoring are paramount. Metric Mosaic helps you track these key metrics, ensuring a stronger defense.
Learn More:
- Financial Cybersecurity Best Practices: Click Here
- At Metric Mosaic, we empower financial institutions with data-driven security.
Contact Us:
- Questions? Reach out today. Click Here
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