Securing your AML/CFT Infrastructure
How implementing five security controls can reduce your AML/CFT attack surface and help defend your bank’s anti-money laundering software against external threats and those related to the posting of “red flag warnings”.
The financial sector continues to be a prime target for highly sophisticated threats against automated and semi-automated systems.
This paper will walk you through what is at risk when an AML/CFT solution is gamed and covers five security controls that can reduce your solution’s attack surface and help defend your AML/CFT software infrastructure.
Recently, North Korea was linked to a SWIFT system attack where over $100 million was stolen from the Bangladesh Bank. In another infiltration, an estimated $1 billion was gained from over 100 banks worldwide by the Carbanak Group. In the US, a Trojan named Odinaff was used against the financial industry by individuals whose work resembled that of nation-state actors. As methods used by global terrorists and money launderers are continually being defined and redefined, efforts concerning software development that help facilitate the prevention and detection of the topologies used by such organization have come to the forefront of the industry. In the infamous Bangladesh Bank heist, there is no doubt that additional funds would have been funneled through the system if not for a typo, a benign sanctions hit and an exorbitant amount of luck. In its current state, how secure is your AML/CFT software and how are your vendors dealing with advanced persistent threats against their applications? What can you as an AML Manager do to ensure your solution is safe?
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Do you Know Pass-The-Hash? Here are the two must read documents from Microsoft that will give you insight to what is at risk.
A technical "Jump-start" into credential security.
Assume breach: two words that should change the way defenders think about compromise within their organizations.
Microsoft investigations of attacks on customers all-too-often reveal success in compromising user and administrator account credentials including domain and enterprise administrator credentials. Technical features and capabilities alone are not enough. The most effective solution requires a planned approach as part of a comprehensive security architecture program. Credential theft attacks like Pass-the-Hash, are attacks that use a technique in which an attacker captures account logon credentials from a compromised computer, and then uses those captured credentials to authenticate to other computers on the network.
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