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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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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.

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Bank Info Security 1 year, 3 months ago

CaaStle CEO Commits a Major Fraud Faux Pas

CEO Accused of Providing Misleading Revenue, Liquidity Numbers to Key StakeholdersFinancial statement fraud is once again making headlines. Fashion startup CaaStle has accused its co-founder and CEO, Christine Hunsicker, of serious financial misconduct, leading to her resignation. The incident could be one of the biggest cases of start-up fraud in recent years.

Bank Info Security 1 year, 3 months ago

23andMe Bankruptcy: Should DNA Data Go to the Top Bidder?

Lawyer Jonathan Armstrong on Legal, Ethical Fallout From Looming 23andMe AuctionThe financial collapse of personal genomics giant 23andMe raises an urgent question: What happens to your most intimate data when the company holding it goes bankrupt? Jonathan Armstrong, partner at Punter Southall Law, warns of cascading legal, ethical and security consequences.

Bank Info Security 1 year, 3 months ago

What's Ailing Faster Payments Adoption in the U.S.?

Incentives, Tech Barriers and Fraud Fears Hamper FedNow GrowthEconomic hesitation, legacy concerns and escalating fraud fears have hampered the adoption of a payment rail touted as the next big thing in the U.S. payment landscape, with government backing and technological promise of clear benefits to consumers and the financial sector.

Bank Info Security 1 year, 3 months ago

National Impact Must Drive Cybersecurity Decisions

Roxanne Pashaei on Matching Organizational Risks With National Cybersecurity RisksIn the face of intensifying geopolitical tensions and nation-state threats, cybersecurity efforts must move beyond organizational boundaries and financial risk models to consider broader national impact, said Roxanne Pashaei who is the former CISO of a public sector enterprise.

Bank Info Security 1 year, 3 months ago

Speed vs. Security: The Digital Bank Dilemma

Jason Costain on Ways Traditional and Digital Banks Could Learn from Each OtherDigital-only banks promise speed and sleek digital experiences but are not the best places to handle scam victims. Without branches to visit, victims find themselves stuck in a loop of chatbots, said Jason Costain, former head of fraud analytics and threat management at NatWest Group.