Cybersecurity Needs for Banking Firms

Banking firms have unique cybersecurity needs, combining traditional financial concerns with retail cybersecurity challenges. This blend creates distinctive security issues as IT and Security teams assess how attackers might exploit common infiltration points like phishing or USB devices, alongside industry-specific entry points such as ATMs.

Why Lateral Movement Simulation Matters in Banking Cybersecurity

Lateral Movement Simulation provides essential testing of security controls and network segmentation, helping to prevent attackers from moving between secure network zones. Below, we examine common lateral movement threats impacting the banking industry.

DMZ Attacks: A Primary Entry Point

The Demilitarized Zone (DMZ) often becomes a vulnerable area for organizations, bridging the public Internet with internal, sensitive platforms. As DMZ systems must often connect with protected resources, they’re a frequent target for attackers. While restricted communications and physical segregation limit risk, changes in hardware, platforms, and applications may create accidental connections between the DMZ and sensitive areas.

Vulnerabilities in DMZ operating systems and software can also create security gaps, even when security controls are strictly enforced.

User Device Compromise in Bank Networks

Through social engineering or brute force, attackers may compromise user devices within the bank’s general network. These compromised devices allow attackers to intercept credentials and survey the network to locate high-value targets. From here, they can move laterally to compromise Domain Controllers or perform business email compromises, gaining access to sensitive systems and data. Even with network segmentation, attackers can use stolen credentials to access additional systems and subnets.

Branch-to-Main Network Threats

Branch locations, typically with lower security than central data facilities, are frequent targets. Attackers may begin by compromising a branch system, then attempt to move laterally to core systems managing intercommunication between branch and main networks. If attackers gain sufficient credentials, they can impersonate employees or systems to enter central systems, allowing them to access sensitive operations and potentially execute financial or data theft.

Exploiting ATM Network Vulnerabilities

Older ATMs often operate on outdated embedded systems, making them prime targets. With both physical and digital accessibility, ATMs become starting points for lateral movement into backend systems, enabling attackers to manipulate transactions or steal funds.

Networked Security Systems as Entry Points

Attackers increasingly exploit security cameras, which are networked via IP and connected to other resources. Camera operating systems, often simpler than server OS, can be compromised like other IoT devices. Once inside, attackers can move laterally into security monitoring networks, gaining further credentials to access sensitive data systems.

Preventing Lateral Movement: A Challenge for Banking Security

While network segmentation and user data classification based on trust are best practices for banking security, segmentation weaknesses can arise from the sheer number of public-facing systems (e.g., websites, ATMs) and third-party interactions. Attackers leverage minor segmentation flaws to move laterally within banking networks, using stolen privileges to access critical systems.

Cymulate’s Lateral Movement Test Vector Simulation for Banks

Cymulate’s Lateral Movement Simulation (LMS) empowers banks to identify weaknesses in segmentation and access controls by simulating real attacker techniques. Regular LMS testing across network segments provides insights into potential attack pathways, enabling banks to reinforce defenses without disrupting operations.

For more on Lateral Movement Simulation and how to make your network resilient to network propagation, watch a webinar here.