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.
Australian Securities Commission Says HSBC Ignored Repeated Internal WarningsSome lessons come with a price. The recent lawsuit against HSBC by the Australian Securities and Investments Commission claims the bank prioritized profits over customer safety. Despite repeated internal warnings from its own fraud experts, HSBC failed to act.
It was one of the offenders' final warning Four staffers at the UK's Financial Conduct Authority (FCA) were let off with warnings over separate cases involving the transmission of regulator data to their personal email accounts.…
Australian Securities Commission Says HSBC Ignored Repeated Internal WarningsSome lessons come with a price. The recent lawsuit against HSBC by the Australian Securities and Investments Commission claims the bank prioritized profits over customer safety. Despite repeated internal warnings from its own fraud experts, HSBC failed to act.
Also, M&S Back Online, Mexican Education Platform Breached, Patch TuesdayThis week, a Roundcube flaw, Mexican student data hacked and Dutch cops scare straight Cracked users. Man imprisoned for hacking tax preparers. M&S update. UNFI ships on a limited basis. U.K. financial regulator staffers used personal emails. Weak web panel security on GPS devices. Patch Tuesday.
Lone Star State drivers with accident records need to be careful about fraud The Texas Department of Transportation says a compromised user account was used to improperly download nearly 300,000 crash reports, exposing personal data that could be exploited for financial fraud against Lone Star drivers.…
The financial sector was the industry most targeted by distributed denial-of-service (DDoS) attacks in 2024, with a peak in October