Cyber threats, cloud and the fintech industry – still work to be done
In this article, Anthony Leverington (pictured), Regional Director for Sysdig, a cloud-native security company, discusses data security in the Australian fintech industry.
1. Please start with a quick overview of yourself, your role, and your company.
I’m Anthony Leverington, Regional Director for Sysdig, a cloud-native security company focused on helping organisations detect and respond to threats in real time. Cloud attacks happen fast, unfolding in 10 minutes or less, which is why we provide deep visibility and real-time security insights to protect cloud environments. Our mission is to help companies “Secure Every Second” by preventing attacks, managing vulnerabilities, and ensuring compliance across their infrastructure.
2. What threats are currently keeping security professionals awake at night?
Security professionals are most concerned about sophisticated cloud-based attacks, like supply chain vulnerabilities, zero-day exploits, and identity-based threats. Attackers are increasingly leveraging misconfigurations and unpatched vulnerabilities to breach cloud environments. Another major concern is the rise of AI-driven attacks, which automate and accelerate threats beyond human response times.
3. Are any threats specific to the finance and fintech industries, or is it universal?
While many threats are universal, financial institutions and fintech companies face unique risks due to the high-value data they generally manage. They are prime targets for ransomware, banking trojans, and API-based attacks on financial transactions. Compliance violations, insider threats, and third-party risk exposure are also significant concerns, given the heavy regulatory landscape in the sector.
4. With new APRA regulations coming into play around keeping data safe, are Aussie finance companies doing enough to protect their assets?
APRA’s new CPS 230 and CPS 234 regulations emphasise resilience and security, but many financial institutions are still catching up. While organisations are investing more in cloud and security frameworks, the challenge lies in having the right level of visibility and to detect and respond to threats in real time. Many businesses lack deep visibility into their cloud infrastructure and workloads, making them vulnerable to misconfigurations, data exfiltration, and advanced persistent threats.
5. How much damage can a cyber-attack really do – what is the average scenario?
A cyber-attack can lead to severe financial and reputational damage. On average, a data breach costs up to one million dollars per hour in critical service outages, recovery expenses, fines, and lost business. A ransomware attack can cripple operations for weeks, and supply chain compromises can have cascading effects across industries. In worst-case scenarios, companies face legal action, regulatory scrutiny, and irreversible damage to consumer trust.
6. Since so many companies have moved to the cloud, does that place more risk on a business, or less – and why?
Cloud adoption brings agility and scalability, meaning they can build software and deliver services faster and more reliably, but it also introduces new risks. The shared responsibility model means companies must secure their cloud workloads, yet many struggle with misconfigurations, excessive permissions, and unmonitored activity. With cloud-native security solutions like Sysdig, organisations gain real-time visibility, runtime threat detection, and proactive risk management to reduce their exposure.
7. What should an Australian company be doing to ensure the safety of their data, moving forward – can you give us a ‘top-five items’ maybe?
Absolutely! Here are five key steps for securing data in the cloud:
- Implement Real-Time Threat Detection – Use runtime security to detect and respond to attacks as they happen.
- Secure Identity and Access – Enforce least privilege access and monitor API activity.
- Continuously Scan for Vulnerabilities – Prioritise and patch vulnerabilities in cloud workloads.
- Monitor Cloud Misconfigurations – Regularly audit cloud environments to prevent security gaps.
- Automate Compliance & Incident Response – Leverage security tools to meet APRA and other regulatory requirements seamlessly.
8. Anything else to consider?
Security is a continuous journey, not a one-time fix. Organisations need to shift from reactive to proactive security by embracing automation, AI-driven threat detection, and real-time insights. At Sysdig, we help businesses stay ahead of threats by providing deep security visibility across their cloud environments, ensuring they can secure every second and focus on innovation without compromise.
