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.
For incentives remember the three Fs – finance, fame, and fixing it feature Thirty years ago, Netscape kicked off the first commercial bug bounty program. Since then, companies large and small have bought into the idea, with mixed results.…
Also: Coinbase's Misconfigured Smart Contract, GMX Repayment PlansThis week, a Ponzi scammer must pay $228 million, Google clarified Play Store non-custodial wallet rules, Coinbase misconfiguration, GMX repayment, BtcTurk halted transfers, bank groups wrote lawmakers. Prosecutors seized funds. The Federal Reserve ended a special oversight program. Hong Kong published new rules.
Financial institutions like trading and brokerage firms are the target of a new campaign that delivers a previously unreported remote access trojan called GodRAT
The Canadian Investment Regulatory Organization (CIRO) said it will work to identify the personal information breached and notify those affected
The Business Council of New York State (BCNYS) has revealed that attackers who breached its network in February stole the personal, financial, and health information of over 47,000 individuals. [...]
Organizations handling various forms of sensitive data or personally identifiable information (PII) require adherence to regulatory compliance standards and frameworks. These compliance standards also apply to organizations operating in regulated sectors such as healthcare, finance, government contracting, or education. Some of these standards and frameworks include, but are not limited to:
PLUS: Kryptos solution up for auction; Canadian parliament springs a leak; Fake crypto lawyers; And more Infosec In Brief New York State is suing bank-owned peer-to-peer payment app Zelle, claiming that the banks behind it knew fraud was rampant on the platform but allowed scammers to conduct business with impunity.…