The Top 5 Financial Markets That Are Open To Attack

The threat of cyber attacks is something that no-one can ignore. As our reliance on technology has grown, so too has the scale and complexity of the risk posed online. Cyber security now has to be among the considerations for investors. When people pore over a forex calendar plotting their currency trades or scour financial news sites […]

How banks are coping with New York’s cybersecurity rules

Read Penny Crosman’s article about how banks are copying with the newly implemented New York’s cyber security rules on American Banker : Theodore Tomita has plenty to say about the New York State Department of Financial Services’ new cybersecurity rule, which began to take effect last week, and little of it is complimentary. Read her full […]

Banks need to keep a close eye on fintech or risk doom

The Bank of International Settlements has recently warned international central banks all over the world to keep financial technology, like blockchain or big data, on their radar. Regulatory reform officials at the Basel Committee on Banking Supervision (dubbed ‘central bank of central banks’) said the emerging fintech could have serious implications on how banks do business. […]

Alert Issued for Potential Cyber Attacks on Media, Aerospace, and Finance Sectors

Digital opportunism is playing an unprecedented role in the state-sponsored global virtual battlefront for financial and political gain.  During the last year, we saw an increase in politically-motivated state-sponsored cyber attacks. If our adversaries are using cyber means as part of a multifaceted campaign for political influence, then they will likely seek to leverage cyber […]

5 Steps for Financial Industry to Prevent Cyber Attacks

Large-scale cyber breaches have become a common occurrence in the finance industry, such as the May 2017 WannaCry ransomware attack that infected hundreds of thousands of computers globally. Financial institutions’ data is a huge target for cyber criminals and motivation for targeting such data has evolved from money making schemes to theft of sensitive information […]

Financial Firms Unprepared For Cyber Security Risks Leaves Room For Fintech Expansion

Read why  Rupert Hargreaves says that financial firms unprepared for cyber security risks leave door open for fintech expansion on Value Walk : The fragility of the world’s Internet ecosystem was exposed earlier this week when an outage at Amazon Web Services rippled across the World Wide Web, disrupting everything from question-and-answer site Quora, to […]

Multi-factor authentication is ‘the solution’ to hacking, says Darkmatter

Interconnectivity – be it with respect to digital networks in general or banking systems – needs to take into consideration the cascading effects of a breach and mitigate against them. Given that the latest incident in Russia was likely orchestrated using falsified client credentials, which has become a preferred method of bank system hacking. Read […]

Should Banks Be Held to Higher Standard in Data Breach Cases?

Read David Gershon discuss whether banks should have higher standards in data breach on JD Supra : In a cautionary tale for banks, a federal court judge in Illinois dismissed a lawsuit filed by Community Bank of Trenton after concluding the bank’s sophisticated business dealings required a higher standard than consumer data breach suits. Read his […]

How to Pinpoint a Data Breach More Efficiently

Read Tina Orem explain how banks can pinpoint a data breach more efficiently on ABA Banking Journal : Fraud costs banks $1.9 billion a year, but a three-year-old Chicago-based company named Rippleshot—recently endorsed by ABA for card breach detection—is helping banks take a major bite out of that by using big data, machine learning and […]

What is the real state of banking security?

Read Roger Halbheer explain the real state of cyber security in banking sector on Halbheer Blog : What I see in my daily life is, that a lot of banks are focusing heavily on compliance when it comes to security. The way I put it is that compliance does not bring security – but good […]