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Latest coverage for Finance

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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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.

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Bank Info Security 2 years, 5 months ago

Senate Panel Hears Plea for Action on Bank Spoofing Scams

Top Lobbyist Says Regulators Should Do More to Combat Caller ID SpoofingA top U.S. banking lobbyist told a Senate panel Thursday there are limits to what financial institutions can do to stop scammers from draining individual banking accounts and called on regulators such as the Federal Communications Commission to do more to combat caller ID spoofing.

Bank Info Security 2 years, 5 months ago

Breach Roundup: CIA Hacking Tool Leaker Gets 40 Years

Also: Cloudflare Was Hacked With Stolen Okta TokenThis week, former CIA programmer gets 40-year sentence, zero trust prevents widespread damage, possible ransomware attack in Georgia, alleged hacker detained in Ukraine, USB-spread malware in Italy, LockBit attack on non-bank home mortgage lender, and Ukrainian critical infrastructure disrupted.

Bank Info Security 2 years, 5 months ago

New York AG Sues Citibank for Poor Phishing Protections

State Attorney Alleges Lack of Layered Security to Stop Fraudulent Wire TranfersThe New York attorney general sued the third-largest bank in the United States over its alleged failure to protect consumers from scammers. "If a bank cannot secure its customers' accounts, they are failing in their most basic duty," said Attorney General Letitia James.

18,000 customers, including the Pentagon and Microsoft, may have other thoughts SolarWinds – whose network monitoring software was backdoored by Russian spies so that the biz's customers could be spied upon – has accused America's financial watchdog of seeking to "revictimise the victim" after the agency sued it over the 2020 attack.…

In nearly every segment of our lives, AI (artificial intelligence) now makes a significant impact: It can deliver better healthcare diagnoses and treatments; detect and reduce the risk of financial fraud; improve inventory management; and serve up the right recommendation for a streaming movie on Friday night. However, one can also make a strong case that some of AI’s most significant impacts

ALSO: SEC admits to X account negligence; New macOS malware family appears; and some critical vulns Infosec in brief Trend Micro's Zero Day Initiative (ZDI) held its first-ever automotive-focused Pwn2Own event in Tokyo last week, and awarded over $1.3 million to the discoverers of 49 vehicle-related zero day vulnerabilities.…