CU Broadcast #2293: New Research Exposes Hardware Security Threats within Financial Services Industry…

We all know how much fraud has increased since the beginning of COVID earlier this year. It’s a major concern for any credit union on the planet.

To add fuel to this fire, Ed Amoroso, former CISO of AT&T and founder of industry analyst firm, TAG Cyber, and Yossi Appleboum, CEO of hardware access control firm, Sepio Systems, came on the show to share new research that delves into hardware security threats within the financial services industry.

According to Ed, the traditional bank robber has now been replaced by cyber criminals and electronic fraudsters. While most attacks seem to revolve around APT’s and DDoS attacks, the emergence of the rogue device is most prevalent within the financial services community.

Here are some of the items we asked Ed and Yossi:

  • How are these attacks executed through rogue hardware devices?
  • How the devices dwell within the institution for years at a time before they are ever found?
  • What other industries are susceptible to these types of attacks?