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.
The U.S. Department of Justice (DoJ) on Friday indicted three Russian nationals for their alleged involvement in operating the cryptocurrency mixing services Blender.io and Sinbad.io
The US medical billing firm is notifying over 360,000 customers that their personal, financial and medical data may have been exposed
Also: Penalty on Illegal Cryptomining in SiberiaThis week's roundup includes Do Kwon's trial, penalty on a Siberian firm over illegal cryptomining, 2024 drainer attack statistics, U.S. bank regulator's crypto stance, Gemini's CFTC settlement, China's blockchain plans and Hong Kong's push for DLT in banks.
Facebook Unveils Community Notes Program But Has Done Little to Curb FraudMeta has decided to end its fact-checking program. Meta CEO Mark Zuckerberg announced significant changes to the company's moderation policies and practices on Tuesday, attributing the shift to a renewed commitment to free speech. Some fear the move will embolden financial scammers.
Facebook Unveils Community Notes Program But Has Done Little to Curb FraudMeta has decided to end its fact-checking program. Meta CEO Mark Zuckerberg announced significant changes to the company's moderation policies and practices on Tuesday, attributing the shift to a renewed commitment to free speech. Some fear the move will embolden financial scammers.
Facebook Unveils Community Notes Program But Has Done Little to Curb FraudMeta has decided to end its fact-checking program. Meta CEO Mark Zuckerberg announced significant changes to the company's moderation policies and practices on Tuesday, attributing the shift to a renewed commitment to free speech. Some fear the move will embolden financial scammers.