{"id":39,"date":"2021-09-20T12:32:30","date_gmt":"2021-09-20T16:32:30","guid":{"rendered":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/?p=39"},"modified":"2021-09-20T12:37:56","modified_gmt":"2021-09-20T16:37:56","slug":"bank-digitisation-is-not-all-its-cracked-up-to-be","status":"publish","type":"post","link":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/2021\/09\/20\/bank-digitisation-is-not-all-its-cracked-up-to-be\/","title":{"rendered":"Bank digitisation is not all it&#8217;s cracked up to be"},"content":{"rendered":"<p>Article: Rapid digitisation of banks invites cyber risks as well. What are the risks, and what should banks do?<br \/>\nAuthor: Ishwari Chavan<br \/>\nPublished: September 20, 2021, 09:24 IST<br \/>\nSite: CIO.com The Economic Times<br \/>\nLink: <a href=\"https:\/\/cio.economictimes.indiatimes.com\/news\/digital-security\/rapid-digitisation-of-banks-invites-cyber-risks-as-well-what-are-the-risks-and-what-should-banks-do\/86358703\" rel=\"noopener\" target=\"_blank\">Article<\/a><\/p>\n<p>Going digital without care is not the way to go for financial institutions. This article reports an increase in cyberattacks focused on banking institutions to a whopping 238% between Feb 2020 and April 2020 (VMWare Carbon Black). Anywhere from phishing, network scanning and probing (Recon work), viruses and website hacking has been methods used in the attempt to penetrate organizations. PII containing applications are particularly vulnerable due to the simple fact that they have &#8220;minimal to no security&#8221;. With everything moving to some kind of cloud, the boundaries have been deleted and hackers have new ways of &#8220;getting in&#8221;. Increasing the vulnerable points of an application has increased the risk. Even if the banks are secure, think about the third party applications that interface &#8211; Venmo, Facebook, Zelle, and Paypal to name a small few. The article encourages a collaborative effort for financial institutions to counter against these attacks and vulnerabilities. &#8220;Banks are required to reimagine some of their own technology and adapt to a three-year or four-year journey.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article: Rapid digitisation of banks invites cyber risks as well. What are the risks, and what should banks do? Author: Ishwari Chavan Published: September 20, 2021, 09:24 IST Site: CIO.com The Economic Times Link: Article Going digital without care is not the way to go for financial institutions. This article reports an increase in cyberattacks [&hellip;]<\/p>\n","protected":false},"author":15777,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[167],"tags":[167],"class_list":{"0":"post-39","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-week-4","7":"tag-week-4","8":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/posts\/39","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/users\/15777"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":2,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/posts\/39\/revisions"}],"predecessor-version":[{"id":41,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/posts\/39\/revisions\/41"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/media?parent=39"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/categories?post=39"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5211sec002fall2021\/wp-json\/wp\/v2\/tags?post=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}