The 2021 Verizon Data Breach Incident Report paints a clear picture of the root cause of thousands of cybersecurity incidents. In 61% of breaches, attackers start with compromised account credentials.
In the Financial Services sector, fully 56% of attackers were external actors. While 44% were insiders making unintentional mistakes. These honest human errors rose the most, up from about 20% in 2017. Financial motives were behind an incredible 96% of the attacks against Financial organizations, with 83% of reported incidents compromising personal or customer data.
In 2019 Equifax launched an innovative program to prevent incidents by tackling employee risk. By translating available security data into personalized scorecards, Equifax provided each employee & manager visibility into their security posture. Equifax then took the program one step further and tied these scorecards to incentive plans, an approach unique amongst their peers. This approach was highly effective in driving security accountability & reducing risk.
I’m really looking forward to presenting with Equifax VP of Global Security Awareness, Strategy, & Engagement, Yinka Badmus, at the upcoming FS-ISAC – FinCyber Today Virtual event – as we talk about driving security accountability through data-driven personalization. Our session is part of the Emerging Tech Thought Leadership track and takes place on Nov 3rd at 1:30pm CET. If you can’t join us live (for most folks in the US), the session can be viewed on-demand.
Yinka will share how Equifax structured and executed its program and delivered personalized security for 18,000 employees globally. We’ll talk about the impact of the programs and how employees showed demonstrable improvement in security behaviors, reduction of risky behaviors that could lead to incidents, and an increase in employees’ vigilance.
The session will also showcase how Equifax is using individual scores, using the Elevate Security Platform, to inform security decisions and apply protection where it is most needed to minimize risk. Those who tune in for our talk will gain an understanding of a framework to create personalized security for employees and the impact of such a program.
Registration is open here: https://www.fsisac.com/events/2021-fincyber-today and while our session is on November 3rd, 2021 at 1:30–1:55 p.m. CET, it’s also available on-demand throughout the conference.
Learn more about Elevate Security’s Proactive Security Playbooks for Financial Services: https://elevatesecurity.com/solutions/elevate-for-financial-services/