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Internal Attacks Surpass External

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Internal attacks on IT systems at the largest financial institutions are surpassing externally launched attacks.

The finding is in the 2005 Global Security Survey released today by the Financial Services Industry practices of the member firms of Deloitte Touche Tohmatsu (DTT).

35% of attacks were confirmed as coming from within the organisations, as opposed to 26% from external sources.

The third annual Global Security Survey acts as global benchmark for DTT and its member firms for the state of IT security in the financial sector and consisted of interviews with senior security officers from the world's top 100 global financial institutions.

Phishing and pharming are two new forms of attack this year. Phishing occurs when the victim is prompted to click on a hyper-link in an email, which takes him to a fake website.

Newer pharming does not need the link. Instead the servers at the ISP or provider are "poisoned".

Financial institutions have made great progress in deploying technological solutions to protect themselves from direct external threats, however the rise and increased sophistication of attacks that target customers, and internal attacks, indicate that there are new threats that have to be addressed, says Adel Melek, a partner in the Canadian member firm of Deloitte Touche Tohmatsu and Global Leader of IT Risk Management & Security Services within Deloitte's Global Financial Services Industry practice. "Strong customer authentication, training and increased awareness can play a significant role in narrowing this gap."

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