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.
Security budgets are lowest in healthcare, professional and business services, retail, and hospitality, but budget growth remained above 5% in financial services, insurance, and tech.
An ongoing data extortion campaign targeting Salesforce customers may soon turn its attention to financial services and technology service providers, as ShinyHunters and Scattered Spider appear to be working hand in hand, new findings show
New threat intelligence points to targeting of financial services and technology sectors by ShinyHunters group
Connex, one of Connecticut's largest credit unions, warned tens of thousands of members that unknown attackers had stolen their personal and financial information after breaching its systems in early June. [...]