Finance: Do Security Audits Keep you up at Night?

May 24, 2017//Ellen Neveux

Last Updated: November 18, 2020

The thought of security audits and assessments in the financial industry is enough to give anyone a headache. But, tracking and monitoring all network activity within the financial sector is imperative for swift risk identification and management.

As online financial services transactions continue to grow, the industry is seeing an increase in cyber-attacks. Around 80 million data breaches were seen in 2016 – using stolen or fake credentials. With identity theft soaring, cybercrime is costing consumers billions of dollars each year.

Just last month in the UK, payday loan firm Wonga warned customers of unauthorized access to their personal data. According to the lender, the security breach affected up to 270,000 of its current and former customers.

Maintaining compliance
The burden of audit worry weighs heavily on the minds of financial institutions. Conducting an audit is often a complicated process – especially with all the IT security standards in place. You’ll need to ensure compliance with ISO 17799 and ISO 27001 standards, surrounding best practices for initiating, implementing and maintaining IT security management systems. As well as NIST, PCI DSS, ISACA, GLBA, and FFIEC.

With an extensive audit tool – giving you instant access to the who, what, when, and where – you’ll get all the details necessary to maintain compliance. With advanced logging capabilities, you’ll be able to track all actions and deliver an easily retrievable account of granular technician and user activities.

A high-definition audit feature offers the financial industry a comprehensive solution. Capabilities should include real-time monitoring, individual technician session information, detailed activity reports, RDP and screen-sharing recording, system and user event logging and permanent storage of all audit reports.

Risk analysis
Your customers or vendors may demand an audit of your security practices, to ensure their assets aren’t at risk, before agreeing to do business with your firm. So, performing thorough and regular security audits should become second nature.

Allowing audits to creep up and surprise you is not the answer. Not staying on top of security measures… is it really worth the risk? Staying at least one stride ahead of cyber incidents by performing audits with an easy-to-use tool, that’s the answer.

Carving out vendor management, auditing access, and proving compliance should take you seconds, not hours. So, there’s really no excuse to not make sure you always know what’s happening on your network, when you use a small, lightweight, flexible audit tool.

About SecureLink

Our sole focus is secure third-party remote access. For highly regulated enterprise organizations, SecureLink Enterprise has pioneered a secure remote access platform. SecureLink for enterprise allows an organization to identify, control, and audit third-party vendors. For vendors, SecureLink is the gold standard remote access support platform because it is easy, efficient, and ensures compliance and reduces liability when supporting customers.

Subscribe to the SecureLink Blog.
close close