April 09, 2020, Kathmandu, Nepal
Trend Micro Inc, a global leader in cybersecurity solutions, announced that it is providing a comprehensive suite of cybersecurity solutions to BRAC Bank Ltd., a Bangladesh-based bank for small and medium-sized businesses.
Banking sectors always have been a primary target for cyberattacks. And, BRAC Bank is no exception. Due to this, it needed an all-inclusive solution to protect them against persistent threats.
And, who better than Trend Micro for the job!
Its deployment of Trend Micro Apex One, Trend Micro Deep Discovery Inspector, and Trend Micro Deep Discovery Analyzer can help the bank with dealing with potential threats. These deployments will help the bank with automatic shielding from vulnerabilities, malware, and ransomware attacks.
Also, it would provide real-time threat monitoring and protection services for endpoints and networks. Thanks to Trend Micro’s deployment, BRAC Bank Ltd is getting 360-degree visibility into the threat landscape.
Cyberattacks on Bangladesh Banks
Banks are the prime target of cyberattacks, and Bangladesh Banks have faced a fair share of robberies. According to reports, a hacker group called ‘Silence’ launched a cyberattack on Bangladesh’s Dutch Bangla Bank in May 2019. The attackers managed to scoop more than $3 million in an ATM cash-out attack.
Reports suggest the hacker group deployed a malicious code, named Silence malware, on the bank’s network. It enabled hackers to run malicious commands on the host and eventually led to withdraw funds from the bank’s ATM.
Can BRAC Bank Prevent Cyberattacks?
BRAC Bank operates on a diversified business model and serves around two million retail customers globally.
The rapid digital transformation in the past few years puts the bank on attacker’s map. Thus, the bank realized the importance of a robust security solution for its networks and endpoints.
“Cybersecurity is a top priority at BRAC Bank Ltd. Trend Micro’s security solutions have protected us against advanced malware and ransomware, as well as against new unknown variants as they emerge. ” – B. M. Zahid ul Haque, Head of Information Security, BRAC Bank Ltd.
He added, “Trend Micro was the right solution for us. We considered various parameters, such as sales and solution experiences, and support.”
The deployments by Trend Micro does seem very promising. The security system has enabled advanced capabilities such as high-fidelity machine learning, behavioral analysis, exploit protection, and file reputation. Similarly, ransomware variant protection, intrusion prevention, C&C blocking, browser operate security, application whitelisting, web reputation, and sandbox integration provided complete protection against threats.
Similarly, a broad range of anti-malware techniques is in place to deliver multiple layers of threat protection and data security for endpoints.
Sounds very secure, doesn’t it?
Micro Trend claims the security solution can protect the bank against advanced persistent threats – malware infections, zero-day, vulnerability exploits, and phishing attacks.
Will these security solutions be enough to prevent cyberattacks on BRAC Bank?