Vulnerable supply chains introduce increasingly interconnected attack surfaces

Accenture Security lists five other “extreme but plausible threat scenarios in financial services” in a new report.

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Financial institutions have interdependent supply chains that offer a “broad, target-rich attack surface that adversaries can undermine,” a new report from Accenture warns. The firm listed it as the latest security trend gaining significance.

The six threats identified by Accenture are:

  • Supply chains, which introduce increasingly interconnected attack surfaces
  • Credential and identity theft, which continue to accelerate
  • Data theft and data manipulation, which stem from new vulnerabilities and cybercriminal behaviors
  • Emerging technologies, especially deepfakes and 5G, advance cyberthreats
  • Destructive and disruptive malware attacks, which spur multiparty and cross-sector targeting
  • Misinformation that is shaking trust in retail and government-backed banks

Attackers have been conducting supply chain attacks for years, the Accenture report noted. “However, supply chain threats to financial institutions in the past year have primarily involved technology service providers

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Microsoft releases Digital Defense Report detailing increasingly advanced cyberattacks

There’s been a surge in cybersecurity activity as companies continue to operate remotely and cybercriminals look to exploit the ongoing coronavirus pandemic.

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Image: Microsoft

To mitigate the spread of COVID-19, organizations around the globe have also adopted remote work policies, leaving companies vulnerable to threats via remote networks, pandemic-related malware, and more. In recent months, there’s been a spike in cybersecurity attacks during the pandemic. In April, the FBI reported cybercriminal activity had increased fourfold. At the time, the agency’s Internet Crime Complaint Center was receiving up to 4,000 complaints per day. On Tuesday, Microsoft released its annual Digital Defense Report providing a glimpse of the trends shaping the cybersecurity landscape during the last year.

“This report makes it clear that threat actors have rapidly increased in sophistication over the past year, using techniques that make them harder to spot and that threaten even the savviest targets,” said Tom Burt,

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