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 […]

Cyber security spending highest for financial institutions

Banks and other financial institutions spend three times the amount non-financial organizations are spending on cyber security, a new report by Kaspersky Lab has shown. According to the Financial Institutions Security Risks research from Kaspersky Lab and B2B International, cyber security is a high priority for financial institutions, as they’re coming under increased pressure from […]

Half of All Phishing Attacks in 2016 Targeted Financial Data

Fully 47.48 percent of all phishing attacks last year were aimed at stealing victims’ money, a 13.14 percent increase over 2015, according to Kaspersky Labs’ Financial Cyberthreats in 2016 report. Of almost 155 million attempts to visit phishing pages that Kaspersky detected in 2016, just under half were attempts to visit pages designed to steal financial […]

How RIAs Should Respond to Cyber Breaches

RIAs face a hazy and disparate regulatory landscape when it comes to cybersecurity, Norb Vonnegut writes in the Wall Street Journal. In such an environment it’s best to be proactive. If a data breach does occur, RIAs must do more than offer free credit monitoring, he writes. Read how registered investment advisors should respond to […]

How Fraud Victims ‘Punish’ Their Banks

Would you leave a bank after an unauthorized charge on a credit card or a strange debit from an account? It’s a question for financial institutions evaluating the impact of a security breach. A new study by Carnegie Mellon University researchers suggests that some customers will, in fact, leave even if they receive quick refunds […]