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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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Featurespace's AI Expertise Will Enhance Visa's Fraud, Risk and Payments TechnologyVisa has signed a definitive agreement to acquire AI-driven fraud prevention leader Featurespace. This acquisition will reinforce Visa's fraud detection capabilities, integrating advanced machine learning technology to strengthen financial crime prevention and protect global transactions.

Bank Info Security 1 year, 9 months ago

State Lawmakers to Give Banks Tools to Fight Elder Fraud

With No Federal Help in Sight, 6 Legislatures Hope to Stop Suspicious TransactionsAs cyber fraud against senior citizens rises, at least four U.S. states are considering new legislation to fill the gaps in fraud protection normally covered by the federal Consumer Financial Protection Bureau. The bills would protect seniors by empowering banks to block suspicious transactions.