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.
Securing videoconferencing solutions is just one of many IT security challenges small businesses are facing, often with limited financial and human resources.
The notorious FIN7 hacking group uses an auto-attack system that exploits Microsoft Exchange and SQL injection vulnerabilities to breach corporate networks, steal data, and select targets for ransomware attacks based on financial size. [...]
The FBI warns that threat actors are using search engine advertisements to promote websites distributing ransomware or stealing login credentials for financial institutions and crypto exchanges. [...]
While 57% of these breaches were attributed to different types of malware, ATM skimming still accounted for 6.5% of all attacks targeting the financial sector
Mobile banking malware designed to steal bank and crypto credentials