TL;DR
While banks often focus their security efforts on firewalls, email phishing defenses, and endpoint protection, network-connected printers are frequently overlooked. These devices store sensitive information, connect to critical systems, and are rarely secured to the same standard as other endpoints. In today’s banking environment, that oversight can lead to major vulnerabilities.
Outdated Devices with Outsize Risk
Modern banks rely on a complex network of hardware, software, and third-party systems to keep operations running smoothly. Yet printing infrastructure is often a holdover from a pre-cloud era. Many banks continue to use legacy multifunction printers (MFPs) or personal printers that are difficult to patch, lack encryption, or are no longer supported by the manufacturer. These devices quietly operate on internal networks with access to employee credentials, customer information, and financial documentation.
In 2016, hackers exploited unsecured printer connections at Bangladesh Bank as part of an elaborate heist that resulted in the loss of $81 million. That incident made headlines for the SWIFT vulnerabilities, but it also exposed the larger truth: printers can be a weak link in financial cybersecurity.
Why Printers Are Easy Targets
Printers are often not included in security assessments or endpoint management policies. They are set up once, connected to the network, and then largely forgotten. That makes them attractive to bad actors who are looking for low-friction access points into highly regulated environments.
Here’s why they matter:
- Stored data: Many printers retain copies of printed documents on internal hard drives.
- Unpatched firmware: Outdated firmware can contain known vulnerabilities.
- User credentials: Printers integrated with Active Directory or other identity management systems can be used to steal credentials.
- Remote access: If not properly segmented, printers can provide a foothold for lateral movement within the network.
For banks, the risk isn’t just data loss. It’s also regulatory fines, reputational damage, and loss of customer trust.
Compliance Doesn’t End at the Server
Regulatory frameworks like GLBA, FFIEC guidelines, PCI DSS, and GDPR all require financial institutions to secure any system that processes or stores sensitive data. That includes printers.
If your print environment isn’t being monitored, logged, and secured like other endpoints, you’re likely out of compliance. With increasingly strict audit requirements and the growing use of mobile and remote work setups, securing print is no longer optional.
What Banks Can Do Right Now
- Conduct a print security audit: Identify all printers across your environment and assess vulnerabilities.
- Apply Zero Trust principles: Assume every device is compromised and implement identity-based access control.
- Upgrade to cloud-based print management: Cloud platforms like Pharos Cloud help you centralize control, monitor enterprise printing, and leverage the latest security frameworks and standards.
- Educate staff: Raise awareness about secure printing practices, especially for remote and hybrid workers.
Final Thought
You can’t protect what you don’t manage. Printers may be quiet background tools, but they touch some of the most sensitive data your bank handles. It’s time to treat them like the critical infrastructure they are.
