Defending financial infrastructures through early warning systems: the intelligence cloud approach

  • Authors:
  • Giorgia Lodi;Leonardo Querzoni;Roberto Baldoni;Mirco Marchetti;Michele Colajanni;Vita Bortnikov;Gregory Chockler;Eliezer Dekel;Gennady Laventman;Alexey Roytman

  • Affiliations:
  • Sapienza University of Rome;Sapienza University of Rome;Sapienza University of Rome;Università di Modena e Reggio Emilia;Università di Modena e Reggio Emilia;IBM Haifa;IBM Haifa;IBM Haifa;IBM Haifa;IBM Haifa

  • Venue:
  • Proceedings of the 5th Annual Workshop on Cyber Security and Information Intelligence Research: Cyber Security and Information Intelligence Challenges and Strategies
  • Year:
  • 2009

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Abstract

Recent evidence of successful Internet-based attacks and frauds involving financial institutions highlights the inadequacy of the existing protection mechanisms, in which each instutition implements its own isolated monitoring and reaction strategy. Analyzing on-line activity and detecting attacks on a large scale is an open issue due to the huge amounts of events that should be collected and processed. In this paper, we propose a large-scale distributed event processing system, called intelligence cloud, allowing the financial entities to participate in a widely distributed monitoring and detection effort through the exchange and processing of information locally available at each participating site. We expect this approach to be able to handle large amounts of events arriving at high rates from multiple domains of the financial scenario. We describe a framework based on the intelligence cloud where each participant can receive early alerts enabling them to deploy proactive countermeasures and mitigation strategies.