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.
Mexican financial institutions are under the radar of a new spear-phishing campaign that delivers a modified version of an open-source remote access trojan called AllaKore RAT
Authorities in Australia, the United Kingdom and the United States this week levied financial sanctions against a Russian man accused of stealing data on nearly 10 million customers of the Australian health insurance giant Medibank. 33-year-old Aleksandr Ermakov allegedly stole and leaked the Medibank data while working with one of Russia's most destructive ransomware groups, but little more is shared about the accused. Here's a closer look at the activities of Mr. Ermakov's alleged hacker handles.
40-year-old Russian national Vladimir Dunaev has been sentenced to five years and four months in prison for his role in creating and distributing the TrickBot malware, the U.S. Department of Justice (DoJ) said
A top financial entity warned that its brand is being used to spread cyber scams, as fraud efforts persist throughout the country.
New York-based global financial technology firm EquiLend says its operations have been disrupted after some systems were taken offline in a Monday cyberattack. [...]
McKinsey Predicts up to 15% Profit Increase, Gen AI Use in All Areas of BankingBloomberg, JPMC, European Central Bank, Morgan Stanley, NASDAQ, HDFC ERGO and Commonwealth Bank Australia are harnessing gen AI to enhance productivity and customer experience. Gen AI has the potential to reshape job roles, redefine customer interactions and create new business models.
Governments from Australia, the U.K., and the U.S. have imposed financial sanctions on a Russian national for his alleged role in the 2022 ransomware attack against health insurance provider Medibank
More than 5,000 victims claimed over a 3-year period but filing reckons accused didn't even use a VPN A Baltimore man faces a potential maximum 20-year prison sentence after being charged for his alleged role in running an online service that sold personal data which was later used for financial fraud.…
The UK government has published a draft code that aims to establish cybersecurity as a key focus for business leaders, on par with financial and legal risks
Extortion Money Found in Bank Account of Aleksanteri Kivimaki, Prosecutors SayProsecutors trying the case of a Finnish national accused of attempting to extort tens of thousands of psychotherapy patients and of later posting therapy notes online said Monday that they have traced the cryptocurrency wallet used by the blackmailer to the accused man.
Loanbase admits massive loss of customer data to thieves, too AerCap, the world's largest aircraft leasing company, has reported a ransomware infection that occurred earlier this month, but claims it hasn't yet suffered any financial losses yet and all its systems are under control.…
Customers 'Sensitive Personal Information' Stolen, Large Mortgage Lender ReportsNon-bank mortgage lending giant LoanDepot says hackers stole "sensitive personal information" pertaining to 16.6 million customers when they breached its systems earlier this month as part of a ransomware attack. The company said it will directly notify all affected customers.
It's all very well offering 'Free Debt Help,' but recipients were unwilling, says watchdog... A financial services company that illegally dispatched tens of thousands of spam messages promising to help the recipients magically wipe away their debts is itself now a debtor to the UK’s data regulator.…