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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Background for this topic.
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.
Old Visuals, AI Deepfakes and Fake Claims Go Viral Amid Escalating ConflictMisinformation is going viral in India as the New Delhi government called Friday on the financial sector to strengthen cyber defenses amid growing military activity along the Pakistani border. Tensions between the two countries ratcheted significantly upward Friday.
Huione Group Helped Criminals Launder Over $4 Billion Worth of Cybercrime ProceedsThe U.S. Department of Treasury set in motion a process to ban a Cambodian company's access to the dollar financial system for running a vast illicit marketplace for cybercrime tools and laundering billions of dollars on behalf of North Korean and other cybercrime groups.
Hackers Bypass MFA to Steal Australians' Banking CredentialsMelbourne-based ANZ Bank will introduce passwordless authentication for digital banking services amid news that hackers have stolen the banking credentials of tens of thousands of Australians. Cybercriminals used infostealer malware to steal the credentials of more than 30,000 Australians.