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E-book: The biggest cyber threat you've never heard of

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1 "The purpose of an MitM attack is for the hacker to secretly position himself in the middle of a digital connection between the user and the bank's web server/API." As more and more companies jump on the third-party API bandwagon in financial services, two things will increase: 1) service innovation, and 2) the attack surface for hackers. Every new app or service that provides an innovative way for consumers to access their bank accounts over the internet provides another opportunity for hackers to perpetrate MitM (man-in-the-middle) attacks. The purpose of an MitM attack is for the hacker to secretly position himself in the middle of a digital connection between the user and the bank's web server/API. In this scenario, the attacker hacks into code that runs outside the firewall. This allows the man-in-the- middle to steal data or gain access to the bank's back end systems, inject malware, or commit all sorts of nefarious acts. You may not be familiar with MitM attacks because they don't get a lot of attention currently. There a three main reasons for this: 1) most MitM attacks appear to result in nothing more than petty theft; 2) most organizations don't have the technology to understand if a larger attack was caused by MitM; and 3) most organizations simply aren't paying attention to attacks that occur outside the firewall. The biggest cyber threat you've never heard of ©2017 Irdeto, All Rights Reserved www.irdeto.com

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