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.
Focusing on what customers and partners need from a company can help CISOs show the real financial benefits of improving cybersecurity.
Businesses must be diligent in their actions, cultivate awareness with employees, and implement strict standards around external communications in the wake of Silicon Valley Bank's collapse.
Security researchers at eSentire shared the findings in an advisory published on Monday
你好 [insert name], 我在 Ministry of Public Security 工作 [insert shakedown] Criminals posing as law enforcement agents of the Chinese government are shaking down Chinese nationals living the United States by accusing them of financial crimes and threatening to arrest or hurt them if they don't pay, according to the FBI.…
Malicious loader programs capable of trojanizing Android applications are being traded on the criminal underground for up to $20,000 as a way to evade Google Play Store defenses
Breached Aussie firm says it will only embolden extorters