MUFG Bank Adopts Exabeam Fusion SIEM to Counter Insider Threats

Exabeam, a global cybersecurity leader and creator of New-Scale SIEM for advancing security operations, announced today that MUFG Bank, Ltd. has adopted Exabeam Fusion SIEM across its nationwide financial group locations and offices. MUFG Bank chose Exabeam Fusion SIEM to establish a normal baseline of activity across its IT infrastructure to quickly spot abnormalities that may indicate a cybersecurity threat or attack.

“We are honored to provide our SIEM and behavior analytics technology to MUFG Bank to enable them to quickly react and remediate external and insider threats,” said Michael DeCesare, CEO and president, Exabeam. “While the Japanese banking and finance sector is respected worldwide for its stability and the strength of its regulations, the threat landscape is constantly evolving––especially in light of current world events. We are committed to standing beside renowned financial organizations such as MUFG Bank to enable them to be as efficient as possible at detecting and defeating adversaries before they can do any harm.”

“Given the recent sophistication and ingenuity of cyberattacks, it has become increasingly important to take measures to protect the internal environment from compromise. Information leakage by internal fraudulent acts ranks high every year in the ’10 Major Security Threats’ issued by IPA (Information-technology Promotion Agency),” said Mr. Atsushi Tsunemi, Managing Director, Head of Cyber Security Department, MUFG Bank. “We need to continue to be prepared under these circumstances. As a part of these measures, we have introduced User Entity Behavior Analytics (UEBA) products to strengthen our internal detection capabilities.”

“Exabeam can identify users’ abnormal behaviors and analyze them on a timeline. With that, we expect to detect both insider threats and cyberattacks. In addition, Exabeam has highly flexible log analysis and can ingest logs from multiple sources including business applications that other products cannot integrate with. By utilizing such a wide variety of logs for analysis, we can expect more accurate threat detection. We intend to continue improving our system with Exabeam support, to further solidify safe, secure financial services that are trusted by our customers,” continued Mr. Tsunemi.

In recent years, the financial sector has suffered an increasing number of scandals involving insider threats caused by employees whose credentials have been compromised, and in rare instances, actual malicious activity by an employee has occurred. An employee’s account behavior may appear to support normal day-to-day operations, but threats potentially lie under the surface. It is critical to detect these threats and take countermeasures before they impact the business.

Exabeam modernizes today’s security operations centers (SOCs) with industry-leading advanced analytics and by automating the entire Threat Detection, Investigation and Response (TDIR) workflow for security teams, greatly accelerating the time it takes to conduct deep investigations and resolve security incidents across their organizations. The company has a patented feature that creates timelines that automatically reconstruct security incidents.

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