Stay secure in the finance sector. Explore the latest in financial cyber security news, trends, and best practices to protect valuable assets and data.
Search across headline titles and summaries.
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.
Reserve Bank also wants a national 2FA framework The Reserve Bank of India (RBI) announced on Thursday it would make its digital currency programmable, and ensure it can be exchanged when citizens are offline.…
Google has unveiled a new pilot program in Singapore that aims to prevent users from sideloading certain apps that abuse Android app permissions to read one-time passwords and gather sensitive data
Google has launched a new pilot program to fight financial fraud by blocking the sideloading of Android APK files that request access to risky permissions. [...]
A finance worker in Hong Kong was tricked by a deepfake video conference. The future of defending against deepfakes is as much as human challenge as a technological one.
Still no word on how the intruders broke in or the full extent of any possible data compromise Global securities finance tech company EquiLend's systems are now back online after announcing a disruptive ransomware attack nearly two weeks ago.…
A new report suggests nearly 2 million UK adults have had their identity stolen and used by fraudsters to open a financial account in 2023
Hong Kong Company Scammed After Criminals Used Deepfake Technology to Imitate CFOFraudsters used deepfake technology to trick an employee at a Hong Kong-based multinational company to transfer $25.57 million to their bank accounts. Hong Kong Police said Sunday that the fraudsters had created deepfake likenesses of top company executives in a video conference to fool the worker.
Back Online: NGT Platform, Which Handles Daily Transactions Worth $100 BillionFinancial giant EquiLend Holdings said it's brought back online multiple systems, including its NGT platform that handles securities lending transactions worth $2.4 trillion every month, following an outage triggered by ransomware-wielding attackers gaining unauthorized access to its systems.