In financial services, there are numerous security tools for blocking known threats. But what do you do about the threats no one knows about? Zero-day threats are among the most challenging vulnerabilities to defend against, because you cannot rely on the CVE database as a cheatsheet to tell you where to plug holes.
Financial applications, with their troves of sensitive data and constant influx of transactions, are prime targets for sophisticated attackers. A Palo Alto Networks report found that financial services accounted for nearly 19% of incidents involving high-severity vulnerabilities, with many attacks exploiting previously unknown or unpatched vulnerabilities, including zero-days. Financial organizations are a top target for attackers leveraging zero-day exploits because these attacks bypass traditional defenses like signature-based detection.
To defend effectively, companies must go beyond traditional, reactive defenses and adopt proactive security strategies that can neutralize threats before they’re exploited. Let’s explore the unique security needs of financial applications and highlight common attack vectors. We will also demonstrate how Waratek’s proactive approach, specifically its Deserial Rules, enables organizations to secure Java systems against zero-day vulnerabilities.
Zero-Day Threats Are a Major Challenge in Financial Services
Zero-day threats exploit unknown vulnerabilities—issues in software code or architecture that have not yet been identified by developers or security professionals. Unlike conventional threats, zero-day vulnerabilities can evade signature-based detection systems because they’re effectively invisible until the attack occurs. This presents a unique and serious risk for financial institutions, where a single breach could mean unauthorized access to massive amounts of sensitive financial data.
Traditional security measures, like firewalls and intrusion detection systems (IDS), are crucial but insufficient against these vulnerabilities. Zero-day attacks slip through perimeter defenses, exploiting internal application layers where reactive measures often fall short. A 2022 Threat Landscape Report from Mandiant indicated that approximately 12% of targeted attacks involved zero-day exploits. If you run a system with only signature-based perimeter protections, you cannot afford to let 12% of attackers gain access to your internal applications with no internal security measures.
The Unique Security Needs of Financial Applications
Financial applications require an especially high level of security for a number of reasons:
- High-Value Target: Financial applications process, store, and transmit sensitive data such as personally identifiable information (PII), account details, and transaction histories. This data is highly valuable on black markets, making these applications prime targets for sophisticated cyberattacks.
- Strict Regulatory Requirements: Financial institutions must adhere to stringent regulatory standards, such as PCI-DSS, SOX, and GDPR, which mandate robust data protection measures and severe penalties for breaches.
- Complex Architecture with Legacy Dependencies: Many financial systems rely on complex, interwoven code bases, often including older Java versions and legacy components. This intricate environment often limits the ability to quickly patch vulnerabilities, increasing exposure to zero-day threats.
Waratek’s Proactive Zero-Day Defense
Waratek’s platform is a unique form of runtime application self-protection (RASP) that takes a new approach to securing Java applications. Waratek uses immutable rules, embedded into the application’s code base that operate within the runtime environment. Unlike conventional tools that rely on patches or threat signatures, Waratek integrates at the bytecode level within the Java Virtual Machine (JVM). This allows our rules engine to monitor application behavior dynamically, enabling proactive defenses without the need for manual intervention or application downtime.
Pattern Recognition for Threat Detection
The process begins by using pattern recognition to establish behavioral baselines for applications. Waratek’s agent analyzes how an application interacts with data, and system resources to create a model of expected behaviors. Any deviation from these baselines—such as unusual database queries, or unexpected file system access—is flagged as a potential threat. Once the agent understands what normal application behavior looks like, it can identify anomalies in said behavior that may indicate malicious activity.
A key component of Waratek’s pattern recognition capability is its taint tracking system. Incoming data from untrusted sources is tagged and monitored as it propagates through the application. This tracking enables Waratek to observe how this data interacts with critical operations. For instance, if tainted data is used to construct a SQL query, the system detects the abnormal behavior and takes immediate action. This capability is especially critical in thwarting injection attacks, deserialization exploits, and privilege escalation attempts, where malicious data seeks to bypass application safeguards. Unlike static tools, these rules operate in real time, allowing Waratek to enforce security without waiting for a patch or update, providing a proactive defense against zero-day threats.
Mitigating Threats in Real Time
When Waratek does detect a threat, its real-time mitigation capabilities ensure the application remains secure and operational. The platform takes immediate action, halting suspicious operations or modifying their behavior to neutralize the risk. For example, if a SQL query constructed with tainted data attempts execution, Waratek blocks it before it reaches the database. Similarly, if deserialized objects deviate from expected behavior, the platform isolates or terminates their execution to prevent exploitation.
Waratek’s runtime enforcement includes advanced sandboxing techniques, where potentially malicious operations are contained within a secure environment. This ensures that harmful actions cannot interact with the broader application or system resources, even if an attacker has gained initial access. Additionally, the platform’s integration at the JVM level allows it to enforce these measures without disrupting application performance, making it an ideal solution for industries like financial services, where continued uptime is crucial.
Why Financial Institutions Need Waratek’s Proactive Zero-Day Defense
Financial institutions lose an average of $5.72 million per data breach. Even the wealthiest organizations are far better off adopting a proactive security approach than risking such a costly breach. Waratek’s platform fills critical gaps left by traditional security measures, addressing the specific needs of Java applications in financial services with minimal disruption to operations.
Waratek provides financial organizations with several advantages:
- Enhanced Resilience Against Advanced Threats: Waratek’s real-time security measures detect and neutralize advanced threats, preventing zero-day exploits from gaining a foothold.
- Regulatory Compliance: Waratek’s runtime protections align with financial security regulations, helping organizations meet requirements for data protection and secure coding practices.
- Reduced Operational Overhead: Waratek’s automated defense means IT analysts spend less time responding to alerts and more time focusing on strategic initiatives.
Experience Waratek in Action
For financial institutions, defending against zero-day threats requires more than just patches and firewalls. The Waratek platform offers a proactive solution designed to meet the specific needs of Java applications in financial services. By securing the application runtime and intercepting threats in real-time, Waratek delivers comprehensive protection that adapts to the dynamic nature of modern threats, including zero-days.
Ready to see the difference for yourself? Experience a Waratek demo and discover how our Deserial Rules and runtime defenses offer unmatched protection for your financial applications.
