The Fenergo FinTalks podcast is where we connect our listeners to the latest in RegTech, compliance, and anti-money laundering (AML) activity.
In this episode, we’re talking about all things cybercrime, namely how banks should go about preventing hackers from gaining control over their systems.
We’re joined by special guest Glenn Wilkinson, a professional cyber hacker and the founder of Kapenta: a company that provides no-nonsense phishing simulation, user training and awareness, and breach notification tool.
Glenn explains how his role as a cyber hacker is essentially like hiring a burglar to check your home security. His expertise is sought out by financial institutions (FIs) to highlight and ultimately remedy vulnerabilities in their systems that could leave an organization open to security breaches and put their customers’ money at risk- or worse, their personal data.
In this episode of FinTalks, Glenn and our host, Dhanum Nursigadoo, talk about cybercrime threats like ransomware, phishing attacks, and exploiting security weaknesses in addition to recommending best practices when dealing with these threats.
Together, they tackle areas, such as:
- What is ethical hacking, and why do FIs hire people to hack into their systems?
- Some of the most common methods of cyber hacking and laundering the proceeds
- The impact of an FI being hacked, and what this means for their customers
- What can happen when someone money muling for hackers goes wrong
The pair also discuss one of the biggest current topics in technology: artificial intelligence (AI) and what it means for cybercrime and security.
AI has been scrutinised in the media as of late, but the technology itself has been around and in use for decades at FIs in functions like credit card transaction monitoring, but how can AI play a role in hacking? Listen to find out how AI affects cybercrime.
Glenn delves into how there are businesses to help organisations negotiate with hackers, Glenn explains how some hackers see cybercrime as their business and relays;
“If you treat hackers professionally, they will respond professionally.”
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