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.
A new Android banking trojan has set its eyes on Brazilian financial institutions to commit fraud by leveraging the PIX payments platform
Crims put a February 4 deadline for software provider to pay up UK regulators are investigating a cyberattack against financial technology firm ION, while the LockBit ransomware gang has threatened to publish the stolen data on February 4 if the software provider doesn't pay up.…
We look into an ongoing malware campaign we named TgToxic, targeting Android mobile users in Taiwan, Thailand, and Indonesia since July 2022. The malware steals users’ credentials and assets such as cryptocurrency from digital wallets, as well as money from bank and finance apps. Analyzing the automated features of the malware, we found that the threat actor abused legitimate test framework Easyclick to write a Javascript-based automation script for functions such as clicks and gestures.
The Russia-linked LockBit ransomware group claims to be behind the attack that fouled automated transactions for dozens of clients of financial technology firm ION Group.
The LockBit ransomware gang has claimed responsibility for the cyberattack on ION Group, a UK-based software company whose products are used by financial institutions, banks, and corporations for trading, investment management, and market analytics. [...]
API attacks, bad bots and DDoS attacks were the industry's main security challenges
The complex nature of cyberattacks has increased demand for software developers, reverse engineers, and offensive specialists — attracting workers facing financial insecurity.
Cybercriminals are co-opting the identities of legitimate US financial advisers to use them as fodder for relationship scams (aka "pig butchering"), which end with the theft of investments.