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.
An active malware campaign targeting Latin America is dispensing a new variant of a banking trojan called BBTok, particularly users in Brazil and Mexico
Security researchers discovered a multi-step information stealing campaign where hackers breach the systems of hotels, booking sites, and travel agencies and then use their access to go after financial data belonging to customers. [...]
Prolific info-thief strikes again Days after a miscreant boasted leaking a 3GB-plus database from TransUnion containing financial information on 58,505 people, the credit-checking agency has claimed the info was actually swiped from a third party.…
This blog entry details a scheme that exploits the recent Morocco earthquake by impersonating the domain name of a well-known humanitarian organization for financial fraud.
Won't someone please think of the banks? Singapore officials announced on Monday that next month they will deliver a consultation paper detailing a split liability scheme that will mean both consumers and banks are on the hook for financial losses flowing from scams.…
Back to 'manual' order processing for $7B household cleaning biz, financial impact will be 'material' The Clorox Company, makers of bleach and other household cleaning products, doesn't expect operations to return to normal until near month end as it combs over "widescale disruption to operations" caused by cyber baddies.…