Professional Services Gain Momentum in Data Protection Software Market

Professional Services Gain Momentum in Data Protection Software Market

While Dependency of Organizations Shifts towards In-house Cybersecurity Professionals A major overhaul of data security led by stringent regulatory mandates has caused a meteoric rise in the adoption of data protection tools. Every enterprise dealing with consumer data has to abide by data security laws
2019 Big Data and Data Science Predictions Through the Lens of Comedy Movies

2019 Big Data and Data Science Predictions Through the Lens of Comedy Movies

2019 Big Data and Data Science Predictions It’s that time of year again when I look into the Crystal Skull…er, ball, and make some predictions of the continuing challenges and new trends I foresee in Big Data and Data Science for the coming year. It’s
metro-1209556_640

Trading Routine: How To Track Suspicious Events In Different Locations

Tracking Suspicious Events

Financial security can be compared to a constant arms race between cyber criminals and businessmen who try to magnify their assets. Trading and financial organizations bear the brunt of the losses occurred due to fraud because their active assets are more liquid and it attracts criminals in all shapes and forms. Security expenditures also turn to be forced losses.

In late 2013 for example, United States entered the age of the mega breach when Target Corp. lost 40 million credit-card numbers to Russian-hackers. And it didn’t stop there; other companies such as Adobe Systems Inc., Home Depot Inc., J.P. Morgan Chase & Co., Anthem Inc. and eBay Inc., fell victim to hackers.

Tense situations like these call for efficient tools for tracking suspicious events. An opportunity to detect and analyze these threats will produce an amplified outcome, i.e. significant revenues for businessmen.

In fact, trading companies generate huge amounts of information. And the main purpose of any corporate security system is to analyze the data and define suspicious events.

How to create an effective system to analyze and monitor corporate information?

Every day, companies are entrusted with the personal and highly confidential information of their customers, therefore creating an effective security policy, which is executed as planned, is extremely important. Experts in custom trading and brokerage solutions emphasize the following security issues that should be taken into account during the elaboration and integration of a security system:

1) Flexible scenarios

It is very well known that swindlers are continuously searching for sophisticated and innovative ways to commit fraud. Since hackers will scan for susceptibilities the minute they are discovered, an organization must have a routine in place for checking its own networks regularly. To address the challenge, we can’t employ universal scenarios; the only thing left is to use some specific methods. A ‘Threats and Alerts’ system should support a flexible parametric structure with individual indicators adjustment, giving the operator a possibility to regulate basic security scenarios and take into consideration all the factors.

2) Analysis algorithms plugged on demand

Trading routine - How to track suspicious events in different locations

Using the same information security tools and analysis algorithms demonstrates different levels of efficiency throughout the course of time. Some of them are up-to-date, others become obsolete. That is why the operator needs an analytic tool base that could be implemented within the context. At the same time, the solution provider should refresh and update the analytic tools base.

3) Online Geoscreening

Upon analyzing hacker attacks and fraudulent operations, specialists in custom e-commerce apps agree that the visualization of information on transactions and financial tools usage is of great importance during the initial stage of detecting suspicious events. Sometimes experts’ intuition and analytic skills prevail over automatic monitoring systems. That is why it’s crucial to provide the operator with well-organized and visualized information.

4) Machine learning algorithms

escalator-769790_640

Many specialists recommend another double system to track suspicious events. It is based on machine learning algorithms. The efficiency of such a system can be noticed only after a certain period of time when the algorithms already analyzed the needed amount of information. That’s why it is vital to launch this system as an independent sub-program as early as possible to obtain another security tool to address financial frauds.

Conclusion

As no one can predict the nature of a future threat (internal or external) it’s a must for a company to have an individual dynamic platform for analyzing information streams within and outside the institution.

By Yana Yelina

CloudTweaks

Established in 2009, CloudTweaks is recognized as one of the leading authorities in cloud connected technology information, resources and thought leadership services.

Contact us for a list of our leading brand and thought leadership exposure programs.

TOP ARCHIVES

DLP Technology and IoT's Weaknesses

DLP Technology and IoT’s Weaknesses

DLP Technology In regards to data loss prevention (DLP), in the last five years many companies rushed to implement DLP ...
10 Ways The Enterprise Can Prevent Data Leaks In The Cloud

10 Ways The Enterprise Can Prevent Data Leaks In The Cloud

Prevent Data Leaks In The Cloud More companies are turning to the cloud for storage. In fact, over 60 percent ...
4 Tips for Secure Video Conferencing

4 Tips for Secure Video Conferencing

Securing Video Conferencing Today, cybersecurity dominates headlines as businesses of all sizes and across multiple industries are falling victim to ...
Cloud Access Management

Identity and Access Management: Advancing to Meet the Changing Needs of Passwords and Governance

Identity and Access Management The identity and access management market continues to grow in a wide variety of industries of ...
Bryan Doerr

Cyber-Threats and the Need for Secure Industrial Control Systems

Secure Industrial Control Systems (ICS) Industrial Control Systems (ICS) tend to be “out of sight, out of mind.” These systems ...

PARNTER LEARNING

$1,499.00Enroll Now

Cyber Security Expert Master's Program

Cyber Security Expert Master’s Program

The course will teach you: Advanced hacking concepts that can help you manage information security better. Architectures of frame cloud data storage and security strategies. You will learn how to use them to find and analyze risks. How to install, ...

$2,899.00Enroll Now

CEH (v10) – Certified Ethical Hacker Training Course

CEH (v10) – Certified Ethical Hacker Training Course

The course will help you: To understand the tactics and methodologies that hackers use to attack and penetrate any network. Understand honeypots, wireless hacking, firewall, and IDS. Become an expert in the hacking concepts, including smartphone hacking, writing virus codes, ...