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.
Meanwhile, CISA joins the call to patch CVE-2023-4966 immediately amid reports of mass-exploit activity; at least 5,000 orgs remain exposed.
CitrixBleed patch has been available for around a month China's largest bank, ICBC, was hit by ransomware that resulted in disruption of financial services (FS) systems on Thursday Beijing time, according to a notice on its website.…
The US Treasury states that it is in contact with financial regulators as it monitors the breach.
The Industrial & Commercial Bank of China (ICBC) is restoring systems and services following a ransomware attack that disrupted the U.S. Treasury market, causing equities clearing issues. [...]
The Industrial & Commercial Bank of China (ICBC) is restoring systems and services following a ransomware attack that disrupted the U.S. Treasury market, causing equities clearing issues. [...]
Russian financial organization Sberbank states in a press release that two weeks ago it faced the most powerful distributed denial of service (DDoS) attack in recent history. [...]
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Months of work reveals how this tricky malware family targets... the financial services sector A brand-new macOS malware strain from North Korean state-sponsored hackers has been spotted in the wild.…
Numerous industries—including technology, financial services, energy, healthcare, and government—are rushing to incorporate cloud-based and containerized web applications. The benefits are undeniable; however, this shift presents new security challenges. OPSWAT's 2023 Web Application Security report reveals: 75% of organizations have modernized their infrastructure this year
Understanding API security risks isn't just a good idea — it's a business imperative. A single API breach can lead to financial losses and reputational damage.
The U.S. Department of the Treasury imposed sanctions against a Russian woman for taking part in the laundering of virtual currency for the country's elites and cybercriminal crews, including the Ryuk ransomware group