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.
Wealthsimple, a leading Canadian online investment management service, has disclosed a data breach after attackers stole the personal data of an undisclosed number of customers in a recent incident. [...]
ACI Worldwide's Cleber Martins on Why Banks Need to Lead on AI Identity GovernanceThe rise of agentic commerce is forcing the financial sector to reconsider traditional fraud controls. While automated transactions may follow all technical authorizations, agentic AI tools still lack an understanding of user intent. That disconnect could lead to a surge in first-party fraud.
HSBC and Another Firm Hit After Service Provider Breached; Some Funds RecoveredAttackers on Friday used valid credentials for financial technology provider Sinqia to steal $130 million from two financial services firms in Brazil, using the country's real-time payment system Pix. The Brazilian Central Bank moved quickly to freeze the funds and has recovered some of the money.
Hackers tried to steal $130 million from Evertec's Brazilian subsidiary Sinqia S.A.after gaining unauthorized access to its environment on the central bank's real-time payment system (Pix). [...]
Enough governments love it and it's highly lucrative Governments can't get enough of hacking services to use against their citizens, despite their protestations that elements of the trade need sanctioning.…
The North Korea-linked threat actor known as the Lazarus Group has been attributed to a social engineering campaign that distributes three different pieces of cross-platform malware called PondRAT, ThemeForestRAT, and RemotePE