How can Financial Institutions use Regulations to Drive more Robust Security?

Read Paul Ferris article about how financial sector and banks can use regulatory compliance for more robust cyber security on Internernational Banker : ATM crime will always exist in one form or another. The European Association for Secure Transactions (EAST) found that in 2016 transaction reversal fraud was up 147% compared to 2015, highlighting how certain […]

Mobile Phishing Attacks Jump, Financial Industry Is Biggest Target

That’s why the number of breaches continues to grow each year, and one of the methods in which they’re accomplished is through phishing. In a new report released by PhishLabs, data from Q1 to Q2 in 2017 shows a staggering rise, and the likelihood that it will slow down is slim. Read about the new […]

The big data breach suffered by Equifax has alarming implications

Until something goes wrong, few people give much thought to the surveillance they undergo by credit-reporting agencies (CRAs). Yet these agencies’ business is deeply intrusive: quantifying character. They assign individuals credit scores based on how they previously managed debt. Read about the implications of Equifax data breach on the financial sector on Economist.

Fintech, Cybersecurity Among Key Risks to Banks: OCC

The Office of the Comptroller of the Currency recently issued its Semiannual Risk Perspective for Spring 2017, identifying areas where technology is increasing the strategic and operational risks the financial industry faces. Read about the Semiannual Risk Perspective for Spring 2017 report by Office of the Comptroller of the Currency which says that cybersecurity is the top […]

Bankers Are Hiring Cyber-Security Experts to Help Get Deals Done

Executives and investors are hiring an unlikely crowd to help them do deals: computer geeks. Companies and investment funds are adding an extra layer of scrutiny to acquisitions by screening targets for cybersecurity risks, as global computer attacks raise awareness. That’s prompting offers specifically tailored to takeovers by a variety of players, from consultants like Deloitte […]

Breaches Setting Blistering Pace, Double at FIs

Read why Roy Urrico says that cyber attacks on financial institutions are a cause of concern on CU Times : News of the second Kmart credit-card breach in three years at the retailer and the number of breaches at financial institutions doubling this year over the same period 2016 should raise concerns. In the second of […]

Financial malware more than twice as prevalent as ransomware

Although crypto ransomware is becoming a common choice for cyber criminals, there is still a significant amount of malware targeting financial organisations and their customers, Symantec has warned. In 2016, attacks saw several such institutions lose millions to cyber criminals and nation state-supported attackers such as the Lazarus group, Symantec research has revealed. Read about the […]

Cybersecurity threats that keep the banks up at night

Read Scott Carey’s article about the changing threat landscape for banks and financial institutions on CSO Online : In the current climate of major data breaches amidst an ever-shifting cyber threat landscape, the people in charge of vast volumes of valuable financial data are under increasing pressure to keep customer data safe from hackers and […]

Financial Services Sector the #1 Target of Cybercriminals

Cybercriminals go where the money is. More attackers are launching attacks on financial services institutions, which saw an increase in breached records, vulnerability disclosures, and DDoS attacks via IoT botnets in 2016. Read about the new IBM X-Force Threat Intelligence Index which reveals that financial companies suffered 65% more attacks than the average organization across […]

Cyber Threats: Can Financial Firms Maneuver Fast Enough?

Read Sherree DeCovny take a look at the flexibility of financial firms to deal with cyber attacks on CFA Institute Blog : As a core part of the critical economic infrastructure, financial firms offer a prime target for adversaries who want to steal data and funds or even to disrupt the industry. Financial firms effectively have […]