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.
In a recent espionage campaign, the infamous North Korean threat group Lazarus targeted multiple organizations in the software, IT, finance, and telecommunications sectors in South Korea. [...]
At least six organizations in South Korea have been targeted by the prolific North Korea-linked Lazarus Group as part of a campaign dubbed Operation SyncHole
The convergence of cybercrime, financial fraud, and organized crime poses a significant threat, especially where these syndicates excel at operating under the radar.
Bureau Endorses Enhanced Information Sharing With Global Allies to Curb CybercrimeThe FBI strongly supported recent efforts to expand information sharing with international partners and launch new efforts to curb global cybercrime, including working with Indian authorities to combat cyber-enabled financial crimes and transnational call center fraud.
Attack Combines Social Engineering and Card Emulation to Execute Real-Time TheftHackers are using Chinese-speaking Android malware-as-a-service SuperCard X to carry out near-field communication relay attacks, siphoning payment card data and executing live point of sale and ATM transactions. Victims receive spoofed SMS or WhatsApp alerts purporting to originate from their bank.
Retailer tight-lipped on details as digital hiccup disrupts customer orders UK high street mainstay Marks & Spencer told the London Stock Exchange this afternoon it has been managing a "cyber incident" for "the past few days."…