How Treacle i-Mirage System Safeguard Cyber Attacks in NBFCs (Non-Banking Financial Companies)

Introduction:

NBFCs are increasingly attractive targets for cybercriminals due to the sensitive financial data they handle. Traditional security measures may not be enough to defend against sophisticated attacks. This case study explores how TreacleTech’s honeypot technology can be a valuable tool for safeguarding NBFCs from cyberattacks.

Treacle i-Mirage System :

Treacle i-Mirage System are decoy systems designed to mimic real NBFC systems like:

• Customer account databases
• Loan processing and approval systems
• Online banking platforms
• Internal financial data servers

These i-Mirage Decoys act as magnets for attackers, luring them away from genuine systems and capturing valuable data on their tactics and techniques. This data is then used to strengthen the overall cybersecurity posture of the NBFC.

Benefits for NBFCs:

• Early Detection and Response : i-Mirage Decoys can detect attempted attacks on critical financial systems in real-time, enabling NBFCs to respond quickly and prevent financial losses or data breaches.

• Improved Threat Intelligence : The data captured by i-Mirage Decoys provides insights into the specific techniques used by cybercriminals targeting NBFCs. This allows NBFCs to identify and prioritize threats that exploit vulnerabilities in their financial systems.
• Enhanced Security Measures : By understanding attacker techniques, NBFCs can implement more effective security measures for their systems. This may involve additional access controls, data encryption, and regular security audits.
• Reduced Risk of Financial Loss and Reputational Damage : By diverting attacks to i-Mirage Decoys, the risk of attackers infiltrating real systems and stealing customer data or manipulating financial transactions is significantly reduced. This helps protect NBFCs from financial losses and potential reputational damage.

Case Study Implementation:

Imagine a large NBFC that has deployed Treacle i-Mirage System within its network. The i-Mirage Decoys are strategically placed to mimic mission-critical systems.

• Scenario 1 : A cybercrime group targeting NBFC attempts to breach their online banking platform to steal customer login credentials. The attackers are lured towards a honeypot designed to resemble the real online banking interface.

• Scenario 2 : The honeypot captures the attacker’s activity, including attempts to steal login details, inject malware, or exploit vulnerabilities in the online banking system.
• Scenario 3 : NBFC’s security team is alerted to the attack in real-time through the honeypot system. They can analyze the captured data to understand the attacker’s methods and target.
• Scenario 4 : NBFC can take immediate action to block the attacker, isolate the compromised honeypot, and implement additional security measures for the real online banking platform.

The threat intelligence gained from the honeypot can be used to identify vulnerabilities and improve overall cybersecurity posture to prevent future attacks.

Conclusion: 

Treacle i-Mirage System offer a valuable layer of defense for NBFCs. By providing early detection, improved threat intelligence, and a proactive approach to cybersecurity, i-Mirage Decoys can significantly reduce the risk of cyberattacks and safeguard NBFCs from financial losses and reputational damage.