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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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Bank Info Security 11 months, 4 weeks ago

ISMG Editors: Seychelles Bank Breach Echoes 'Panama Papers'

Also: Train Hack Risks Outed by CISA Alert; AI Comprehension Issues Won't Go AwayIn this week's update, four ISMG editors discussed the potential global implications of the Seychelles Commercial Bank data breach; the real-world threat of train hacks following an alert about a critical railway vulnerability; and growing concerns around AI's "comprehension problem."

3 State-Sponsored Groups Spear-Phish Semiconductor EcosystemChinese state-aligned hackers have ramped up espionage efforts against Taiwan's semiconductor ecosystem through spear-phishing campaigns. Three distinct threat actors targeted chipmakers, packaging and testing firms, equipment suppliers and financial analysts.

Also: CISA Warns of Unpatched Train Brake VulnerabilityThis week: Louis Vuitton and Co-op confirm breaches, unpatched train brake flaw, Barclays fined £42M pounds for financial crime failures, secret U.K. program relocated thousands of Afghans, ex-soldier pleads guilty to hacking, Ukrainian hackers claim hit on Russian drone supplier.

Also: Scammer Gets 12-Year Sentence for Dodging RestitutionAbacus Market's suspected exit scam, crypto scammer gets 12 years for dodging restitution, GMX exploiter returns funds, BigOne's $27M hack, Arcadia Finance's $3.5M theft, NZ woman's trial for alleged murder and a DOJ crypto fraud filing's potential unmasking of MoonPay victims.

Most Compromises Trace to Financial Services, Healthcare, Professional ServicesData breaches rage on. In the first half of this year, the Identity Theft Resource Center counted 1,732 total data breaches affecting 166 million people, marking a rise in data breaches but a decline in victims, likely due to a drop in mega-breaches.

Hacker Claims to Have Exploited Flaw in Oracle WebLogic Server, Sold Stolen DataSeychelles Commercial Bank is warning customers that a hacker stole their personal information - but no money - from their accounts after breaching its systems. The hacker involved claims to have stolen and sold two gigabytes of customer data from the bank, which paid no ransom.