Fortifying Cybersecurity for a Financial Services Company in Europe: Comprehensive Penetration Testing and Vulnerability Assessments

Needs And Requirements:

The client, a firm in the Financial Services sector, required a comprehensive security assessment due to the absence of previous evaluations. This company had no existing compliance obligations and their cybersecurity was managed internally. Their infrastructure utilized user rights management and segmentation for enhanced security but lacked specific controls over web applications, which was a gap in their security architecture.

Main Challenges:

• Limited Budget for Cybersecurity Measures: With a relatively modest budget, maximizing the effectiveness of every security investment was crucial.
• Inadequate Patch Management and System Updates: The lack of regular updates and patch management made their systems susceptible to known vulnerabilities.
• Evolving and Sophisticated Threat Landscape: Rapid advancements in cyber threats required a dynamic and responsive cybersecurity strategy.

Solution:

• Penetration Testing: Hitachi Cyber conducted a comprehensive suite of penetration tests to enhance security measures. This included external and internal testing to uncover vulnerabilities, web application testing to ensure robust security practices, and testing of 2FA systems for secure access controls. Network security audits were also conducted to review network configurations and architecture.
• Training, Social Engineering and Simulations: Social engineering assessments were carried out to evaluate staff susceptibility to various types of deceptive tactics. These tactics could include phishing attacks, pretexting, baiting, and tailgating. The goal of these assessments was to identify potential areas of weakness in the organization’s human security layer and to provide recommendations for enhancing staff awareness and resilience against such threats.
• Vulnerability Assessment and Management: Additionally, Hitachi Cyber carried out a comprehensive vulnerability assessment to identify and prioritize potential security risks. This process involved automated scanning using advanced tools to detect known vulnerabilities across the network and systems. The findings from the automated scanning were then manually verified by experts to eliminate any false positives and ensure accurate results. The next step was risk analysis, where the impact and likelihood of each vulnerability were assessed to prioritize remediation efforts. Finally, a remediation plan was developed, providing detailed recommendations for addressing the identified vulnerabilities. This included suggestions for patch management and configuration changes. This thorough process ensures a robust and secure system.

Outcomes:

The series of penetration tests and vulnerability assessments significantly enhanced the firm’s security posture by identifying and rectifying critical vulnerabilities. This comprehensive approach not only aligned the client with industry standards but also ensured timely updates and effective patch management. The firm’s proactive stance in addressing cybersecurity markedly reduced their exposure to potential cyber threats.

Next Steps:

The firm, in collaboration with Hitachi Cyber, will continue with ongoing vulnerability assessments and penetration testing to adapt to the dynamic cyber threat environment. This sustained effort will focus on maintaining a high level of security and compliance, ensuring the firm remains well-protected against future cyber challenges.