The number of cybersecurity events faced by companies and businesses across the globe has grown exponentially since the pandemic began. Without adequate network security monitoring practices and around-the-clock monitoring in place, the chances of a cyber incident happening are highly likely. However, not all companies can afford to have a team of highly trained network admins watching over their network 24×7.
Incident response is one of the most challenging tasks that IT teams face. It's challenging not just because it typically involves many stakeholders and moving pieces, but also because teams usually face pressure to respond as quickly as possible. That's why investing in incident response automation is a wise choice. Although it may not be possible to automate every aspect of every incident response workflow, being able to automate at least the major elements of incident response will yield incident management processes that are faster, more reliable, and more consistent.Keep reading to learn about the components of incident response and which incident response activities to start automating.
According to a recent analysis, 17 million Ethereum transactions between Q4 2017 and Q1 2022 were associated with both criminal and licit operations. The overall cyber money laundering activities increased by 30% in 2021 compared to 2020, with hackers laundering a total of US$8.6 billion in cryptocurrencies.
Globally, fintech firms saw 2.5 times more attacks in Q1 2022. The BFSI industry is prone to cyberattacks every day. Fintech firms carry some vital data. Cybercriminals know it. They aim to exploit your system’s flaw to access the data. The worst part is they will use it for financial fraud. A successful data breach causes penalties and reputation losses. It scares away your customers. It is even motivating cybersecurity in Fintech. How do you make a secure financial platform?
This is the first of a six-part blog series that highlights findings from a new Mend white paper, Five Principles of Modern Application Security Programs. Be sure to look out for our upcoming blogs on each of the five principles. The COVID-19 pandemic accelerated the digitalization plans for global organizations by three years, while the adoption rate for digitized products and services increased by seven years.
