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Latest coverage for Finance

Stay secure in the finance sector. Explore the latest in financial cyber security news, trends, and best practices to protect valuable assets and data.

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Finance covers the institutions, markets, and services that move, store, lend, invest, and insure money. Its distinctive assets include customer identities, account balances, payment instructions, trading positions, claims, and confidential business data. Operations depend on core banking and ledger systems, payment networks, market-data feeds, identity services, and external processors or cloud providers. Integrity and availability are especially important: an unauthorized change to beneficiary or settlement data can cause direct loss, while an outage can interrupt payments or trading and complicate time-sensitive reconciliation.

Security work therefore focuses on online banking and trading interfaces, APIs, privileged access, credentials, and third-party connections. Useful controls include phishing-resistant multi-factor authentication, least privilege, transaction signing or approval separation, encryption, tamper-evident logging, and anomaly monitoring. Privacy protections apply to personal and financial information; PCI DSS is relevant where payment-card data is handled, alongside jurisdiction-specific financial rules. Vulnerability management should prioritize internet-facing and legacy systems, while incident response needs capabilities to contain fraudulent transactions, preserve evidence, reconcile ledgers, and restore trusted service through tested backups or failover.

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Landmark Admin Compromise Affects More Than a Dozen Insurance and Annuity CarriersLandmark Admin, a third-party vendor that provides administrative services to life insurance and annuity companies, said 1.6 million people are potentially affected by 2024 ransomware and data exfiltration incidents that compromised a wide range of personal, financial and health information.

Bank Info Security 1 year, 3 months ago

Fraud in Your Inbox: Email Is Still the Weakest Link

At-Bay Cyber Insurance Claims Report Finds 83% of Financial Fraud Starts With EmailFinancial fraud remains the leading driver of cyberinsurance claims, with 83% of cases traced back to email-based attacks. Common tactics used to deceive employees include wiring funds to fraudulent accounts, generative AI-crafted emails, executive and vendor impersonation and BEC scams.