Case Study: Major Icelandic Bank achieves stronger cyber and physical defenses with Trustwave SpiderLabs

Major Icelandic Bank - Customer Case Study

Major Icelandic Bank, a nearly $10 billion institution with 800 employees and more than 100,000 customers, faced rising cyber risk from mobile and digital services and a small in‑house security team. Seeking deeper expertise after prior vendors, the bank engaged Trustwave — specifically Trustwave SpiderLabs — to run a more thorough assessment (a red team engagement) to find vulnerabilities conventional penetration tests had missed.

Trustwave SpiderLabs performed a comprehensive red team assessment that included dark‑web reconnaissance (purchasing sensitive bank data), high‑level network attacks, and physical infiltration (tailgating into the bank’s headquarters and a branch, collecting exposed documents and adding spyware to unattended laptops). Trustwave’s engagement uncovered unknown leaked data, demonstrated both cyber and physical weaknesses with concrete instances of access, and boosted employee awareness—providing the bank with actionable findings to strengthen its defenses.