Network Security Concerns With BYOD Bank Systems & Technology (08/04/14) Chadda, Ankur The analyst firm Ovum says close to 70 percent of employees use personal tablets or phones to access corporate data. Twenty-one percent do so despite an established policy, and 15.4 percent do so without the knowledge of their IT departments. While experts say banks increasingly are accepting that Bring Your Own Device is here to stay, not all banks are testing their networks to identify potential security problems that might arise from BYOD. Despite the risks, BYOD can lower equipment costs, boost productivity and response times, and enhance employee engagement. However, network protection is critical, given that banks can lose millions of dollars if malicious traffic shuts down or even slows their networks. Experts note that banks cannot employ remote wiping of personal devices, nor can they expect a complete ban on BYOD to succeed. Thus, it is important for banks to test their networks by simulating breach attempts and needle-in-a-haystack scenarios, and these tests should be comprehensive and continuous and include the latest applications and updated malware definitions. Moreover, experts say banks should establish BYOD policies that balance security needs with employee productivity and mobility.
Posted on: Thu, 07 Aug 2014 02:05:07 +0000