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.
17-year-old allegedly withdrew large sums of cash from ATMs Dutch police have arrested a 17-year-old boy who detectives suspect was responsible for 16 bank card frauds across the Netherlands.…
Advocate General urges rethink of PSD2 to speed compensation after scams Analysis One of the European Union's top legal advisors is trying to change how banks treat cybercrime victims – meaning they could enjoy greater financial protections sooner than expected.…
Could steal sensitive personal and financial data After a whopper of a Patch Tuesday last month, with six Microsoft flaws exploited as zero-days, March didn't exactly roar in like a lion. Just two of the 83 Microsoft CVEs released on Tuesday are listed as publicly known, and none is under active exploitation, which we're sure is a welcome change to sysadmins.…
Crooks used simple phone scam to compromise vendor account, spilling personal and financial data belonging to more than 15,000 people A voice-phishing scam targeting one of Ericsson's service providers has exposed the personal data of more than 15,000 individuals after attackers sweet-talked an employee into handing over access.…