By Rajnish Gupta, Managing Director and Country Manager, Tenable India
For the third consecutive year, the banking sector ranks as the second-most breached industry globally. As financial institutions embrace advanced technologies like cloud computing and AI, they become even more attractive targets for cybercriminals, who exploit vulnerabilities in these sophisticated systems. In a PWC report, CXOs from the financial sector have identified cloud-based pathways as the most exploited attack vector. Weak encryption, poor access controls, and misconfigurations in critical syste,
Why are banks at greater risk?
India’s booming digital payments ecosystem has significantly increased banks’ reliance on third-party services, creating substantial supply chain risks. Any vulnerabilities within a third-party provider can compromise the entire bank’s infrastructure. For instance, cybercriminals could breach an API provider or a third-party payment processor, exposing massive amounts of sensitive data and disrupting operations. This was evident earlier this year when 300 smaller banks across India were compromised in a coordinated cyberattack.
The risk is further magnified without…
