The sophisticated cyber attacks that banks experienced in 2013 will continue into 2014, Booz Allen Hamilton, a management consulting firm, said in its cyber security predictions for 2014.

Board members and executives have seen the threat landscape evolve with the high profile DDoS attacks this past year, turning cyber security into a bigger concern for all banks, the company said in a statement outlining the predictions, which was released this week.

"Our conversations with clients have significantly evolved from a focus on threats and capabilities to creating a balanced and holistic cyber security program that responds to an institution’s critical business risks,” Bill Stewart, Booz Allen’s senior vice president and head of commercial finance, explained in the statement. Here are the consultancy’s seven top trends to watch in cyber security in 2014:

1. Making threat intelligence useful - Big banks have a great deal of data, but sifting through it all to find actionable intelligence and making use of it will be a big challenge next year. Threat intelligence will need to be joined with incident response, fraud and other areas.

2. Mobile threats - Emerging mobile malware threats that take advantage of vulnerabilities in mobile device platforms. One such threat, the Perkele Trojan crimeware kit seen in the Middle East, will likely spread elsewhere this holiday shopping season, Booz Allen predicted. Read full story on Bank Systems & Technology


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