Paladion Networks releases advisory on ATM Frauds

BENGALURU, India - May 23, 2013 - PRLog -- Paladion Networks in its latest study has released an advisory on ATM frauds. This advisory  is an outcome of the recent 45 Million USD ATM heist that affected two banks in Middle East. In this report, Paladion has analysed the methods adopted by fraudsters and the weaknesses in the existing system that could have possibly led to the attack.  

This fraud has demonstrated how vulnerable organizations remain, despite the adoption of various IT security measures and compliance frameworks. Paladion Networks, towards the end of the advisory has also discussed on the various measures banks should adopt to reduce the impact of such incidents and also advises banks to remain eternally vigilant and particularly reassess their vendor risk management programs in the context of this event.

About Paladion

With a global footprint across 30 countries, Paladion is a specialized and strategic partner for information risk management to leading organizations across industries including, BFSI, ITES, Telecom, Manufacturing. It is the largest and the fastest growing pure-play information security player in Asia (as ranked in Deloitte Technology Fast 500 Asia Pacific & Technology Fast 50 India - 2006, 2007, 2008, 2009, 2010 & 2011). For five years consecutively, Gartner has rated Paladion in its “MarketScope for Managed Security Services for Asia Pacific”; as ‘Promising’ player in 2008 & 2009 and as a ‘Positive’ player in 2010 ,2011 and 2012.

Having over a decade of experience in the information risk management domain, Paladion today is actively managing risks for over 700 customers. Paladion provides end-to-end information risk

management solutions comprising security assurance, compliance, governance, monitoring and management services to large and medium sized organizations for existing as well as emerging risks.

Paladion also offers solutions for communication interception to law enforcement agencies and service providers. Paladion’s information risk management solutions have been awarded by Asian Banker, Red Herrings, and Financial Insights. Paladion has been recognized in the SI 100 Top 10 Enterprise Security Companies 2011. Paladion is involved in several information risk management research forums and has authored books on the same. The whitepaper, Phishing Threat Intelligence Report H1 2011 by Paladion Labs, has been awarded the Global Excellence Award 2012 by Info Security Products Guide.