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Latest coverage for Finance

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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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.

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Bank Info Security 1 year, 10 months ago

US Moves Toward Expanding Reg E to Address Payment Fraud

Fraud Expert Ken Palla on Recent Legislative Efforts and Regulatory ScrutinyRecent developments suggest the U.S. is taking a more serious approach to holding faster payments platforms accountable for scams. It's unlikely any changes will occur before the November U.S. election, but the move toward more regulation is a good start, said Ken Palla, retired MUFB Bank director.

French police reckon financial system targeted during Summer Games Nearly four weeks after the cyberattack on dozens of French national museums during the Olympic Games, the Brain Cipher ransomware group claims responsibility for the incident and says 300 GB of data will be leaked later today.…

Bank Info Security 1 year, 10 months ago

Patelco Breach Affected 726,000 Customers, Employees

Ransomware Attackers Had Access to Data for More Than a MonthHackers stole the data of more 700 million current and former customers and employees of Patelco Credit Union in a monthlong ransomware attack detected in June, the California financial institution said. Not all 726,000 individuals victimized in the breach were equally affected.