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 […]

Why we must strengthen cyber risk management now

Mr. Kruger Denis, is the Head, Sub-Sahara Africa, SWIFT (Society for Worldwide Interbank Financial Telecommunication), a global provider of secure messaging services. Read the interview of Mr. Denis with Clara Nwachukwu where he explains why finance companies need to strengthen cyber risk management on The Guardian.

Just 21% of financial institutions confident they could detect a data breach, survey finds

Though banks are gatekeepers of important personal and financial information, officials from nearly 80 percent of financial institutions said they are less than “highly confident” about their ability to identify a data breach when it happens. Read about the new report by Capgemini Consulting which reveals that only 21 percent of financial institutions can detect […]

Co-Sourcing Can Help Financial Institutions Comply With Cybersecurity Regulations

Read why  A.N. Ananth explain how co-sourcing can help finance sector organisations comply with regulatory compliance on Information Security Buzz : Financial institutions have until Oct. 2017 to comply with many of the New York State Department of Financial Services (DFS) Cybersecurity Requirements for Financial Services Companies (23 NYCRR 500). Affected companies must issue a […]