97% of global banks are susceptible to web and mobile attacks

By Grace Barnott for Software Testing NEWS

Worryingly, every single one of the organisations had issues or security vulnerabilities relating to forgotten subdomains.

Ilia Kolochenko, CEO and founder of ImmuniWeb, said: “Given the non-intrusive nature of the research and formidable resources available to the top banks studied in the research, the findings urge financial institutions to revise their existing approaches to application security.”

Burden for customers

The CEO also spoke of the drain that is passed on to customers when banks do not protect data sufficiently. He continued: “Most of the data breaches involve or start with insecure web and mobile apps. Unfortunately, most cybersecurity teams today carry a burdensome duty to meet compliance and regulatory requirements as the first priority, and simply lack available resources to tackle other essential tasks. Eventually, they become low hanging fruits for cybercriminals.”

The study was taken from banks across 22 countries in Europe, Asia, the Americas and Australia. Read Full Article