Threat Intelligence platform—first year results summary
BI.ZONE and the Association of Banks of Russia have shared the results of the first year of the cyber-threat data exchange platform in operation. The platform already caters to about 70 financial institutions. According to experts, in the course of the year, the platform helped prevent a total loss of $122 million.
This joint project between BI.ZONE and the Association of Banks of Russia, being a platform designed for the exchange of data on cyber threats, allows users to build effective proactive security in financial organizations. The solution helps to counteract criminal attacks through collaboration between participants, rigorous testing, and the provision of sourced information taking into account industry and regional specifics. Important advantage of this approach is high accessibility at low resource. This platform minimizes cyber risks without a significant rise in security costs, and the information gathered on it caters to banks of any scale.
The participants can access the latest data available: tens of thousands of indicators are automatically added and updated daily on the platform, which help detect a potential threat (indicators of compromise). The data are sourced from all the organizations that subscribe to the Association of Banks of Russia, its technology partners, including FinCERT at the Bank of Russia, the developers of cybersecurity tools, including the international antivirus giant ESET, large telecom providers, BI.ZONE Computer Emergency Response Team, and many more. Under the technological partnership, BI.ZONE and the Association of Banks of Russia are granted access to the ESET Threat Intelligence telemetry service, which has more than 100 million points of collecting information about threats across the world.
The benefits of this collaboration were first demonstrated at the Global Cyber Week in Moscow via an online training Cyber Polygon, aimed at exercising international business cooperation in combating digital threats. During the event, three large-scale cyberattack scenarios were played out—massive DDoS attacks, SQL injections, and phishing. In the first part of each scenario, participants were asked to defend themselves single-handedly, in the second, they connected to the data exchange platform and tackled the threats together. In cooperation, the resistance to cyber threats proved to be more than 7 times as effective.