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.
Protiviti's Maio on the Do's and Don'ts of DataOrganizations that struggle with data security rollouts aren't burdened by financial constraints or poor tooling. But they often misjudge how much work goes into security planning, said Antonio Maio, managing director at global consulting firm Protiviti.
UK cops trace street-level crime to sanctions-busting networks tied to Moscow's war economy On Christmas Day 2024, a Russian-linked laundering network bought itself a very special present: a controlling stake in a Kyrgyzstan bank, later used to wash cybercrime profits and funnel money into Moscow's war machine, according to the UK's National Crime Agency (NCA).…
Cybersecurity researchers have disclosed details of a new Android banking trojan called Sturnus that enables credential theft and full device takeover to conduct financial fraud
Ping Identity and Ameris Bank on Stopping Fraud Without Alienating Legitimate UsersIn the latest "Proof of Concept," Rich Keith, director of product and solutions marketing at Ping Identity, and Todd Smith, senior vice president of customer IAM at Bank Ameris, joined ISMG editors to discuss how AI-based fraud is breaking trust models faster than many systems can adapt.
Cyber Leaders Address AI Threats, Compliance Resilience, Zero TrustFrom AI‑driven fraud schemes to tightening regulations and identity threats, ISMG's New York Fraud Prevention and Financial Cybersecurity Summits brought together CISOs, investigators and risk leaders to share practical strategies for strengthening defenses and building true resilience.
Bug bounty programs create formal channels for organizations to leverage external security expertise, offering researchers legal protection and financial incentives for ethical vulnerability disclosure.
Quantum Advances Are Outpacing Global Readiness, Cybersecurity Leaders WarnWhile quantum computing promises advances in fields such as healthcare and financial modeling, cybersecurity experts say Q-Day also poses a fundamental risk to the cryptographic standards that secure communications, digital signatures and transactions worldwide.