Financial Services
Mobile telecommunications and Unified Communications have revolutionized the way the customers interact with financial service providers. The advent of the Internet and smartphones along with the integration of voice, video, data and communications via a single stream has led to cheaper and faster ways of communicating. While the technology is changing, the attitudes and the understanding that personal data needs to be kept secure and confidential do not. Convergence of these technologies and networks makes it possible for criminals to easily gather information about others. The open nature of Unified Communications has exposed the financial institutions and their customers to a variety of technology-assisted social engineering, identity spoofing, data theft and denial of service attacks.
Financial institutions face ever increasing regulation and customer demands for security, privacy and protection of sensitive customer data and communications:
- The European Data Protection Directive stipulates protection of individuals with regard to processing and transfer of personal data.
- The Gramm–Leach–Bliley Act (GLBA) adopted by the US Congress governs collection, disclosure and protection of consumers’ nonpublic personal information or personally identifiable information by financial institutions, and includes mandatory rules for Financial Privacy, Safeguards and Pretexting Protection.
- A variety of national laws such as the UK Data Protection Act and the Federal Data Protection Act of Germany define the principles of processing and safeguarding of personally identifiable data.
VibeSec Assessment Utility (VAU) powers the Unified Communications security audit services available from VibeSec partners. These services the enable organizations to take a comprehensive snapshot of their UC security status, identify major vulnerabilities, take a quick corrective action and establish a solid, compliant security improvement process.
Resources: White paper