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.
Bronze Starlight’s use of multiple ransomware families and its victim-targeting suggest there’s more to the group’s activities than just financial gain, security vendor says.
The operators behind the Rig Exploit Kit have swapped the Raccoon Stealer malware for the Dridex financial trojan as part of an ongoing campaign that commenced in January 2022
Time to rethink that cybersecurity strategy? A US bank has said at least the names and social security numbers of more than 1.5 million of its customers were stolen from its computers in December.…
Open source is here to stay, and it's imperative that CIOs have a mature, open source engagement strategy, across consumption, contribution, and funding as a pillar of digital transformation.
Firms need to weigh up operational, ethical and financial issues when deciding whether to pay ransomware, according to experts
Ransomware has been a thorn in the side of cybersecurity teams for years. With the move to remote and hybrid work, this insidious threat has become even more of a challenge for organizations everywhere
Flagstar reveals details of December incident
Flagstar Bank is notifying 1.5 million customers of a data breach where hackers accessed personal data during a December cyberattack. [...]
BRATA now targeting a specific financial institution at a time
The operators behind BRATA have once again added more capabilities to the Android mobile malware in an attempt to make their attacks against financial apps more stealthy