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.
An emerging, illicit marketplace proves that financial cybercrime is still on the rise, with a need for countries to collectively put safeguards in place.
A coordinated international law enforcement operation has dismantled Genesis Market, an illegal online marketplace that specialized in the sale of stolen credentials associated with email, bank accounts, and social media platforms
A new dark web marketplace called STYX launched earlier this year and appears to be on its way to becoming a thriving hub for buying and selling illegal services or stolen data. [...]
Thieves go nose-to-tail stripping cash from victims The US Department of Justice has seized cryptocurrency worth about $112 million from accounts linked to so-called pig butchering investment scams.…
Blokes happily bluffed; women played it by the book, leaving the bank struggling to hire Australia's Westpac bank re-wrote its job ads for infosec roles after finding the language it used deterred female candidates.…
Whether protecting a financial institution or a hospital, everyone needs an effective strategy for fending off slippery threats like those that hide in memory.