Darknet Cybersecurity: How Finance Institutions Can Defend Themselves

Darknet Cybersecurity: How Finance Institutions Can Defend Themselves

Financial firms continue to move to digital-first deployments, as retail branches close, and people shift to remote work. This shift makes understanding and preventing even common darknet, or dark web, threats a priority.


Financial cybersecurity investment institutions need to understand what the dark web is, provide their security teams with the tools to explore it safely and prioritize areas of concern. Taken together, these actions can limit risk and improve regulatory compliance.


About the Darknet


Originally designed to hide users’ activities and identities, the dark web, also known as darknet, quickly became an obstacle as malicious actors leveraged tools, such as The Onion Router (TOR) to create a digital marketplace where nothing was off-limits or beyond reach. From illegal items to stolen data, there’s a good chance someone on the dark web has obtained, or has access to exactly what bad actors are after.


Not surprisingly, financial data remains one of the most popular purchases on the dark web. Credentials for high-value bank accounts start at just $500, and credit card data is sold in large volumes at low cost. Financial firms are often forced to close compromised accounts and refund fraudulent transactions, since there is little recourse when it comes to finding the origin of this pilfered information. 


Dark Web: The Deep and the Darkness


No discussion of the dark web is complete without a quick primer on the difference between deep and dark deployments.


The deep web is classified as data that isn’t indexed and readily available online. While t ..

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