Updates to Regulatory Compliance with severe financial consequences is putting huge emphasis on
managing digital assets, including third parties. US banks are proactively investing in technology to enhance customer value, streamline internal processes, and maintain a competitive edge, with investments expected to reach nearly $112 billion by 2026, this pattern of spending also has a global trend. As each organization's digital footprint expands across the globe, it also expands to thousands of third-party vendors.
With increased scale and business opportunity comes increased risk exposure. Unfortunately, many financial institutions may not even be aware of the risks they harbor until after an incident occurs, underlining the critical importance of proactive risk identification and mitigation.
The report uncovers critical findings, including:
Overall Risk Exposure: Nearly 1% of all digital assets contain vulnerabilities, yet for some banks, over 7% of their assets contain exploitable vulnerabilities.
Vulnerabilities Severity Distribution: 68% of identified vulnerabilities had a severity level of 5.00 or higher.
Breach Exposure for Large Banks: Our research uncovered multiple critical vulnerabilities, consisting of many unique vulnerabilities.
Third-Party Platform Vulnerabilities: 75% of vulnerabilities are associated with third-party platforms.
Common Risks Among Global Banks: Amazon, LG Uplus, NTT, and Alibaba are among the third-party platforms with the highest number of vulnerabilities.
The report marks the first in a series of in-depth risk landscape analyses that Team Cymru is set to develop across various industries, including healthcare, airlines, and retail. These reports are developed using data from Pure Signal Orbit™, Team Cymru’s attack surface management platform, the world’s largest data ocean of threat intelligence and digital assets information. Assets were scanned for one week, ensuring the most complete picture of asset information and vulnerabilities could be achieved. The starting point for the five research candidates used their Top Level Domain (e.g., bank.com), and extended outwards to their entire attackable surface, including third parties. To qualify as a candidate, each financial institution had to be within the top five annual revenues for their specific geographic region. No names have been used to ensure anonymity.