Fintech companies are generally more exposed to risks and more mature than the average in terms of cybersecurity. The nature of their activities implies the need to take into account the risks of fraud and cyberattacks right from the design of a new product.

The pentest then confronts the security choices and protections in place with the real threat. Depending on the nature of the product (payment solution, credit platform, banking management, private equity, etc.), the business stakes will be different. However, here are a few details on the main risks and the most frequent pentest priorities according to our experience with fintech companies.

Performing a pentest can be part of your objectives, without it being the priority of the moment. This for various reasons: developments are in progress, a migration is planned, a budget has not yet been allocated, etc. Given the different constraints and priorities that need to be respected, when is the right time to perform a pentest?

We will present various situations in which the question arises and give you some keys to identify the right time to perform a penetration test.

Currently, since March 2018, SSL/TLS certificates (more commonly called HTTPS certificate) can have a maximum lifetime of 825 days. 
But in March 2020, Apple announced that they only will allow SSL/TLS certificates on Safari that have a maximum validity of 398 days (13 months). And Google will follow this path (announced by the chair emeritus of CA/B Forum on Twitter in June 2020).

In July, Mozilla has confirmed it will reduce certificate lifespans too.

There are several types of IT security audits: organizational audits, technical audits and penetration testing.
All these variants are complementary and enable to analyze optimally an organization’s level of security. In this article, we will voluntarily leave aside the organizational audits in order to focus on the technical aspects of security audits.

Cybersecurity Issues for Businesses in 2020

The current trend is to strengthen the security requirements for customers, partners and investors. Security audits have been democratised to small and medium-sized companies, for whom they represent a prerequisite to be able to collaborate on IT issues with large companies. In fact, large accounts almost systematically integrate requests for security audit reports into their purchasing processes. The introduction of the GDPR 2 years ago also enabled companies to become aware of data security issues in business sectors where risk awareness was previously low. Security certifications (ISO 27001, HDS, PCI-DSS, SOC2, etc.) are increasingly popular among small and medium-sized companies, as a way of differentiating themselves and making security a quality issue.

Conducting a security audit has a cost. When companies are asked about the budget they devoted it, we often hear “between €10k and €20k”, sometimes a little more, sometimes a little less. However, there isn’t really a standard price for this type of service: it all depends on what is done, how, and by whom. If the main objective is to be able to show that a pentest has been done less than 6 months ago, it is possible to make concessions to respect an extremely limited budget.

Abraham Lincoln (repeating a woodsman) would have answered the question: what would you do if you had just six hours to chop down a tree? I would spend the first four hours sharpening my axe.

What does it tell us? That preparation is key. 
You cannot protect what you don’t know, therefore knowing your attack surface is the first essential step to protect it efficiently. 

Once you have decided to go for a penetration test, you may wonder if it should target your production environment.

Depending on the risks, it can be appropriate to perform the security audit either on a production environment or a test environment. Below is a summary of the pros and cons for each alternative.

25 pages to know the existing and exploitable vulnerabilities on these technologies, as well as the means to counter or reduce the risks.

The OWASP Top 10 2017 introduces the risk of insufficient logging and monitoring. Indeed, inherent problems in this practice are often underestimated and misunderstood. But why is a seemingly simple task ending up being a crucial point of information system security?