Excerpt from BRINKnews.com
By Kevin R. Brock and David X Martin
There’s growing concern within intelligence communities that hostile governments could cyber-invade financial institutions, not to steal money — but to pollute, destroy and manipulate data.
Data manipulation is difficult to detect, and hackers might even target data in backup storage to ensure that recovery is impossible. Cyberattacks that create chaos in record keeping, transaction precision and currency valuations could corrode public trust to such an extent that it threatens the stability of the financial system.
One of the biggest exposures lies in the cloud. As supply chains become ever more complex, financial institutions are relying on third parties to provide scale and agility.
However, third-party providers are often the vector that cyber intruders exploit in order to reach the intended target. This dramatically increases the attack surface that companies have to worry about.