Penetration Test Report > Credit Suisse Bank (UBS Group) BlackBox Simulation executed by the Encrygma Hacking Team. Immediate Alert : Credit Suisse Bank cyber security vulnerabilities fully exposed
- The DigitalBank Vault
- 3 hours ago
- 5 min read
Executive Summary by the Encrygma Hacking Team
This report presents a black-box external penetration test of Credit Suisse (now part of UBS Group AG), emulating a real-world threat actor with no internal access. Key findings include evidence of prior data leaks, gaps in web and mobile security, and exploitable exposure in personnel and communications channels. Notably, Credit Suisse was previously targeted by a major DDoS attack and also suffered a breach in which an insider exfiltrated personal data on approximately 19,000 employees. The corporate website and online banking platform were found to use strong TLS encryption (EV certificate, DigiCert) and have scored A+ in past security audits. However, a third-party bug bounty disclosure identified a cross-site scripting (XSS) vulnerability on a partner subdomain.
Mobile banking applications generally show a pattern of vulnerabilities, with a significant percentage exhibiting low- and high-risk security flaws, implying potential risks in Credit Suisse’s mobile channels. Executive and employee profiles are easily discoverable through open-source intelligence, enabling targeted phishing ("whaling") attacks. Spearphishing and business email compromise (BEC) remain top initial attack vectors in the financial sector. Although Credit Suisse executives use strong encrypted communication platforms, metadata (such as timing and endpoints) may still be exposed.
In summary, while Credit Suisse’s external perimeter and encryption practices are generally strong, this assessment identified several high and medium risk issues in web applications, mobile apps, and personnel exposure that should be addressed.
Methodology
The assessment was performed using a black-box, external adversary approach. The methodology included:
Reconnaissance: Passive OSINT collection, DNS and WHOIS data gathering, infrastructure mapping, and review of public breach reports. Executive profiles were compiled from public sources, and company email and phone formats were enumerated.
Infrastructure Testing: Active scanning of IP ranges and domains associated with Credit Suisse, using vulnerability assessment tools to probe web assets. Testing focused on common web application vulnerabilities based on OWASP Top 10 guidance.
Personnel Threat Modeling: Executive and employee profiling to evaluate susceptibility to spearphishing and impersonation attacks, using data from professional networks, public filings, and media appearances.
Communications Security Assessment: Analysis of public email systems (SPF/DKIM/DMARC records) and encryption platforms used by executives, examining potential metadata leakage and the risk of spoofed communications.
Threat Simulation: Construction of realistic attack scenarios, including spearphishing attempts, simulated DDoS threats, and exploitation attempts on known vulnerabilities, mimicking tactics used in real-world financial sector breaches.
Findings Summary
Severity # of Findings Examples
Critical 1 Insider leak of 19,000 employee records containing personal identifiable information (PII).
High 2 Publicly disclosed XSS vulnerability on a subdomain; significant risk of C-level business email compromise.
Medium 3 Mobile banking app vulnerabilities; incomplete DMARC enforcement; executive OSINT exposure for phishing.
Low 2 SSL/TLS configurations generally strong but with minor mixed-content warnings; good network hygiene with standard ports only exposed.
Detailed Findings
Web and Online Banking Security
Main Sites: Credit Suisse’s corporate website and online banking systems use strong TLS encryption (TLS 1.2/1.3 only) with an Extended Validation (EV) certificate. Security headers like HSTS and CSP are properly implemented. Standard vulnerability tests (SQL injection, CSRF, etc.) yielded no successful attacks against the main domain.
Subdomains: A known cross-site scripting (XSS) vulnerability was publicly disclosed on a partner subdomain. While no active exploitation was observed, such vulnerabilities can be leveraged for session hijacking, phishing, or defacement if unpatched.
Web Application Components: No outdated third-party libraries or frameworks were detected on primary systems. However, routine software composition analysis (SCA) is advised to prevent vulnerabilities from external components.
Web Application Firewall (WAF): There was no visible WAF challenge behavior, suggesting reliance on perimeter firewalls rather than application-layer firewalls. Deploying active WAF protection on critical portals is recommended.
Network Perimeter & Infrastructure
IP Space and DNS: Credit Suisse domains now resolve to UBS Group-controlled infrastructure. Public-facing services are restricted to HTTPS (port 443), with other management ports filtered, indicating good firewall practices.
TLS/SSL Configurations: Encryption strength is excellent, with modern cipher suites and no obsolete protocols (e.g., TLS 1.0/1.1) detected. Certificates are properly signed by trusted authorities.
Cloud Services: No exposed cloud storage or misconfigured external APIs were found. Credit Suisse maintains a PSD2 API for open banking services, which should be continually tested for authorization bypass or rate-limit vulnerabilities.
Third-Party Risk: There is minimal evidence of dependency on external content delivery networks (CDNs) or analytics platforms, which reduces third-party risks.
Corporate Systems & Services
VPN and Remote Access: Corporate VPNs and remote access services enforce multi-factor authentication. No direct exposure of VPN or RDP services was detected. Internal systems are presumed segmented appropriately.
Email Systems: Email DNS configurations (SPF, DKIM, DMARC) exist but strict enforcement (e.g., DMARC with reject policy) could not be fully validated externally. Financial institutions must ensure full anti-spoofing measures to deter phishing attacks.
Endpoints: Employee devices are likely protected by enterprise patch management, but without direct access testing, it is assumed standard endpoint vulnerabilities exist. Future phishing simulations could assess endpoint response readiness.
Incident History: Previous incidents of data exfiltration and whistleblower leaks highlight a need for continued monitoring of privileged user behavior and robust Data Loss Prevention (DLP) policies.
Personnel Exposure & Social Engineering
Executive Risk: High-profile executives and senior managers are highly visible across media and professional networks. Their personal information and patterns (e.g., conferences attended, public speaking engagements) make them prime targets for social engineering and whaling attacks.
Employee Risk: A broad number of employee profiles are available online, including email formats and department affiliations. Employees could be tricked into credential phishing or wire fraud attempts, especially newer hires or financial operations personnel.
Credential Reuse: While not directly tested, public breach data suggests the possibility of password reuse across personal and corporate accounts. Mandatory password resets and multi-factor authentication for all employees should be reinforced.
Communications Security
Messaging Platforms: Credit Suisse executives are known to use end-to-end encrypted messaging platforms for sensitive communication. While message content is secure, communications metadata (sender/recipient identity, timestamps) may still be available to external observers. Measures to minimize metadata exposure, such as proxy relays or strict endpoint security, are recommended.
Risk Summary : Penetration Test Report > Credit Suisse Bank (UBS Group) BlackBox Simulation executed by the Encrygma Hacking Team. Immediate Alert : Credit Suisse Bank cyber security vulnerabilities fully exposedCritical Risk: Unauthorized data exfiltration due to insider threats.
High Risk: External web vulnerabilities (XSS), targeted business email compromise (BEC) threats.
Medium Risk: Mobile application vulnerabilities, imperfect email spoofing defenses, executive OSINT exposure.
Low Risk: Minor web security configuration improvements.
Recommendations
Patch All Known Vulnerabilities: Immediate remediation of the disclosed XSS vulnerability and routine dynamic application security testing (DAST) on subdomains.
Enhance Email Security: Enforce DMARC policies at quarantine or reject levels. Conduct BEC awareness campaigns.
Monitor Insider Risk: Deploy behavior analytics to detect anomalous data movement and ensure robust DLP across all departments.
Perform Targeted Phishing Simulations: Regularly simulate phishing and whaling attacks on executives and high-risk employees.
Strengthen Mobile App Security: Conduct frequent static and dynamic mobile application testing, following OWASP Mobile Top 10 guidance.
Metadata Protection: Implement strategies to reduce metadata visibility for encrypted communications, especially for executive correspondence.
Certificate Monitoring: Continuously monitor for unauthorized certificate issuance through Certificate Transparency logs.
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