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 […]

Only 19% of UK banks and insurers say they can detect a data breach

Only one in five (19 percent) UK financial service organisations are highly confident they can detect a data breach (21 percent globally). A new report from Capgemini highlights the gap between the level of trust placed in banks by the public and the reality.  Capgemini which reveals that only one in five United Kingdom financial service […]

Only 21% of FSIs think they can detect a data breach

A series of high-profile cyberattacks at major financial services institutions (FSIs) — most recently, at Tesco Bank and Lloyds — has drawn attention to the fact that many institutions’ cyber defenses are inadequate. Read about the new report by Capgemini which reveals that only 21 percent of financial institutions think they can detect a data […]

Most UK banks don’t believe they can detect a data breach

Only one bank in five is highly confident in its ability to detect a data breach, with 50% of financial institutions having inadequate data security frameworks or privacy policies in place, research suggests. Consultancy Capgemini surveyed 7,600 consumers and 183 senior security and privacy professionals from global banking and insurance firms in eight countries, including the […]

How security can directly impact the bottom line at banks, financial institutions

Read Don Campbell’s article about how security directly affects the bottom line of banks and financial institutes on Banks and financial institutions have long recognized the critical need to secure the valuable and sensitive financial assets their customers trust to keep them safe. That’s why the vast majority of these organizations have invested in advanced […]

Report Shows Fewer Financial Services Data Breaches in 2016

Financial services experienced a 26% decrease in data breaches from 2015, according to the ITRC Data Breach Report 2016, from Scottsdale, Ariz.-based CyberScout and San Diego-based Identity Theft Resource Center. The statistics show banking, credit and financial institutions made great strides in protecting against data breaches. Read about the new research by Cyber Scout which reveals […]