The security threat landscape continues to evolve, and security through obscurity is no longer (and probably never was) an ideal approach to protecting the sensitive data of the hedge fund industry. A recent study by IBM found that the cyber threats are expanding with 62% of managers believing that cyber threats are an increasingly serious risk to business.
The report found a 27% rise in cyber security vulnerabilities between 2009 and 2010 and noted that “early in 2011 officials at the International Monetary Fund revealed that it had been targeted by a sophisticated cyber attack – a threat that was considered so serious, the World Bank severed the computer ties through which the two organisations shared information.”
Another example cited was that “in June 2011 a black-hat hacker group known as LulzSec (or “Lulz Security”) targeted the website of the CIA in the US using a denial-of-service attack. This was the latest in a string of similar attacks against a range of government and public sector bodies.”
While these two examples occurred at large organizations, the risks facing smaller firms (read: hedge funds) are just as real. To that end, we recently had eSentire into our Boston office to speak with a group of hedge fund CTOs about the security landscape and their managed security technology. Feedback on eSentire’s offering and approach was positive and the spark for this tech spotlight article.
Eze Castle Integration and eSentire are working together to give hedge funds using the Eze Private Cloud or on-premise IT complete protection from security risks that could jeopardize operations and threaten proprietary information.
eSentire’s core solutions combine advanced security technology with highly trained security experts to proactively identify potential vulnerabilities, detect and prevent intrusion, and conduct forensic traffic analysis for predictive threat profiling. Core components of eSentire’s eSentinel managed security services are network interceptor and Security Operations Center (SOC). These deliver:
- Intrusion Detection / Intrusion Prevention
- Bandwidth Tools
- EXE Blocking / Quarantine / DPI
- DNS Interception
- SSL Interception/Proxying
- Attachments and End-of-Day Reports
- Forensic Traffic and Incident Analysis
Security Operations Center
- Service Level Objectives
- Change/Release Control
- Operational Reporting/Relationship
- SOC Escalation/Resolution Mechanisms
- Root Cause Analysis Functions
- Systems Group Maintenance
This coming Thursday (April 18, 2012) we are hosting a webinar with eSentire titled “Network Security Threats Exposed: How to Keep Your Fund's Data & Infrastructure Safe.” The webinar will provide attendees details on:
- Specific network security threats, including data leakage and network intrusion;
- Understanding of security threat management practices such as intrusion detection and prevention, forensic traffic analysis and web and application assessments; and
- Specific policies and procedures to employ for optimal security management.
Register for the webinar HERE.
Want More on Hedge Fund Security?
- Hedge Fund Security Part 1: Six Basic but Overlooked Security Practices
- Malware Definitions & Security Tips: Hedge Fund Security Part 2
- Hedge Fund Security Part 3: How secure are your iPhone and iPad?
- Five Years Later: How Bernie Madoff Has Transformed the Investment Industry
- The Who, What, When and Where of the Bad, Bad Cryptolocker Ransomware
- Expert Tips for Launching a Hedge Fund in a New Environment
- Answering the FCA's Dear CEO Letter on Outsourcing with Some Practical Steps
- Reflecting on What We're Thankful For This Thanksgiving
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