ITWeb TV: Absa sees 400% increase in attempted cyber attacks

Absa Group’s chief security officer Manoj Puri discusses the threat landscape the bank faces, including emerging threats, such as quantum computing.

In this episode of ITWeb TV, Manoj Puri , Absa Group’s chief security officer, provides insight into the increasing cyber threats faced by the banking group, and other challenges such as skills, employee burn out, third party risk and cyber poverty, quantum computing and the need for improved cyber awareness across South Africa. #banking #cyber # Absa #quantum

He adds that despite the increase in attacks the bank is facing, it is symbolic of a wider trend, and hackers are changing their tactics and aiming for the path of least resistance.by the South African Banking Risk Information Centre and the Financial Sector Conduct Authority, local banks and financial services providers are increasingly being targeted by criminals, as website cloning scams proliferate as a method to steal consumers’ hard-earned cash.

He says there is a need for constant assessment and monitoring of a third-party’s external surface, including checking if they are up to date with patches. “It gives you indications of who’s taking cyber security seriously.” Puri is also candid about the different threats he is concerned about. “The biggest challenge I see is discipline and cyber hygiene. It’s a constant thing to monitor and improve on. Being on top of your estate and the attack surface, and ensuring cyber hygiene is well managed is probably the hardest challenge.”

On mobile phones and security, he says it is not just an organisation perspective, but also a human issue.

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Itweb Security Summit Cyber Crime Manoj Puri Cyber Security Banking Hackers Quantum Computing Cyber Security Skills Threat Management

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