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.
American financial services holding company Globe Life says attackers may have accessed consumer and policyholder data after breaching one of its web portals. [...]
As cyber threats loom large and data breaches continue to pose increasingly significant risks. Organizations and industries that handle sensitive information and valuable assets make prime targets for cybercriminals seeking financial gain or strategic advantage. Which is why many highly regulated sectors, from finance to utilities, are turning to military-grade cyber defenses to safeguard
Threat actors linked to North Korea have accounted for one-third of all the phishing activity targeting Brazil since 2020, as the country's emergence as an influential power has drawn the attention of cyber espionage groups
Leading U.S. commercial bank Truist confirmed its systems were breached in an October 2023 cyberattack after a threat actor posted some of the company's data for sale on a hacking forum. [...]
Department Is Asking for Information About How AI Is Used in Financial ProductsThe financial services industry is no stranger to artificial intelligence - leading the sector's U.S. regulator to pose questions such as whether institutions can explain AI outcomes and the technology's role in risk management and internal operations.
Experiment demonstrates how AI can turn the tables on cybercriminals, capturing bank account details of how scammers move stolen funds around the world.
Recent supply chain cyber-attacks are prompting cyber security regulations in the financial sector to tighten compliance requirements, and other industries are expected to follow. Many companies still don’t have efficient methods to manage related time-sensitive SaaS security and compliance tasks. Free SaaS risk assessment tools are an easy and practical way to bring visibility and initial
CISA Won't Ask You to Wire Money or Keep Discussions SecretIf you've received an urgent phone call from the U.S. Cybersecurity and Infrastructure Security Agency about a security vulnerability, you should know: The call wasn't really from CISA. Americans reported more than $1.1 billion in financial losses due to impersonation scams in 2023.
Greater collaboration between financial and law enforcement officials is needed to dismantle cybercrime scam centers in Cambodia, Laos, and Myanmar, which rake in tens of billions of dollars annually — and affect victims worldwide.
Plan Proposed by Onepoint Includes Converting Atos Debt to EquityFrench IT consultancy Atos agreed to a last-minute financial restricting plan as the debt ridden company finalizes a proposed buyout by the French government. Atos said it will proceed with financial restructuring plans put forward by a consortium of investors and creditors led by Onepoint.