Hackers are using the infrastructure, meant to transmit data between applications, for command and control.
The security tools and strategies financial services organizations use to protect their data could be leveraged by cybercriminals who sneak in undetected via “hidden tunnels” to conceal their theft, according to a new report published by Vectra.
Ironically, financial firms have the biggest non-government security budgets in the world, Vectra says. Bank of America invests more than $600 million in cybersecurity each year, while JPMorgan Chase spends $500 million. Equifax, while smaller than both, spends an annual $85 million on security.