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.
Financial organizations in the Asia-Pacific (APAC) and Middle East and North Africa (MENA) are being targeted by a new version of an "evolving threat" called JSOutProx
A suspected Vietnamese-origin threat actor has been observed targeting victims in several Asian and Southeast Asian countries with malware designed to harvest valuable data since at least May 2023
The banking trojan known as Mispadu has expanded its focus beyond Latin America (LATAM) and Spanish-speaking individuals to target users in Italy, Poland, and Sweden
The threat actor known as TA558 has been attributed to a new massive phishing campaign that targets a wide range of sectors in Latin America with the goal of deploying Venom RAT