Last Tower Solutions
Financial Technology Fact Sheet
Explore real-world cases, industry trends, and the numbers behind today’s biggest financial security concerns.
Data Exposed Includes:
-
Names and contact details
-
Account and transaction information
-
Sensitive internal business data
​
Stolen credentials and cloud misconfigurations gave attackers access to multiple Snowflake environments. Even top-tier platforms are vulnerable without strong access controls. Last Tower Solutions can help your organization close cloud security gaps and lock down credentials.
More than 40% of the population of America was potentially impacted by the Equifax data breach. Four primary flaws that facilitated the security breach were:
-
Poor Vulnerability Management
-
Poor Network Segmentation
-
Poor Password Handling
-
Failure to renew certificates
​
While this happened in 2017, lawsuits are still relevant today.
Don't hesitate, and get a security assessment performed with Last Tower Solutions!
Attackers infiltrated Finastra’s internal systems by exploiting a third-party file-transfer platform used in day to day operations. Once inside, they exfiltrated sensitive financial data and disrupted services for banks and partners globally.
​
According to industry analysis, the breach stemmed from weak endpoint privilege controls, delayed alerting, and a lack of proper network segmentation. There were vulnerabilities that left the door open despite existing protections.
We assist companies achieve their compliance with NIST, GDPR, PSD2, PCI DSS and others. Let Last Tower Solutions be part of your annual compliance goals to ensure secure transactions and protect personal and financial data for your customers.
​
Learn how we protect organizations like yours. Our team is here to help!
Top Fin Tech Threats
Data Breaches
Data breaches in FinTech are highly dangerous due to the sensitivity of financial data. Hackers exploit security flaws to access user information, causing financial fraud, identity theft, and reputational harm.
Ransomware
Ransomware attacks encrypt data and require payment for decryption. Fintech companies may experience operational disruptions and data loss if they are targeted, as well as financial pain.
Phishing Attacks
Cybercriminals frequently employ phishing tactics to trick employees and customers into disclosing confidential information. These attacks can result in unauthorized access to accounts and data breaches.
Insider Threats
Employees or partners acting maliciously or negligently can cause major security breaches from within the organization. Internal security tests are required to address such concerns.
Take a Closer Look
11,000+
The risk of suffering a cyber attack and extreme losses has increased. Cyber Incidents involving financial institutions has grown from less than 1,000 incidents in 2004 to over 11,000 in 2023 and growing.
$12B
The financial sector has experienced over 20,000 cyberattacks in the last two decades, resulting in losses amounting to $12 billion.
$4.45 M
The global average cost of a data breach in 2023 was USD 4.45 million, a 15% increase over 3 years.