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.
More than £1bn was raised in external investment across 84 deals in the most recent financial year
Five major Canadian banks went offline for hours blocking access to online and mobile banking as well as e-transfers for customers. The banks hit by the outage include Royal Bank of Canada (RBC), BMO (Bank of Montreal), Scotiabank, TD Bank Canada, and the Canadian Imperial Bank of Commerce (CIBC). [...]
The notorious TrickBot malware is targeting customers of 60 financial and technology companies, including cryptocurrency firms, primarily located in the U.S., even as its operators have updated the botnet with new anti-analysis features
Insider used some of the funds across online gambling sites
Russia suspected of intensifying cyber-attacks
Labels digital currencies wreckers of sovereignty, worse than a Ponzi scheme The deputy governor of the Reserve Bank of India, T Rabi Sankar, has delivered an extremely unflattering assessment of cryptocurrencies – worse than Ponzi schemes, wreckers of economies, and richly deserving of a ban within India.…
What geopolitical standoff could this possibly be linked to? The websites of the Ukrainian military and at least two of the nation's biggest banks were knocked offline in a cyberattack today.…
The Ministry of Defense and the Armed Forces of Ukraine and two of the country's state-owned banks, Privatbank (Ukraine's largest bank) and Oschadbank (the State Savings Bank), are being hammered by Distributed Denial-of-Service (DDoS) attacks. [...]
The Ministry of Defense and the Armed Forces of Ukraine and two of the country's state-owned banks, Privatbank (Ukraine's largest bank) and Oschadbank (the State Savings Bank), are being hammered by Distributed Denial-of-Service (DDoS) attacks. [...]
Spain's National Police Agency, the Policía Nacional, said last week it dismantled an unnamed cybercriminal organization and arrested eight individuals in connection with a series of SIM swapping attacks that were carried out with the goal of financial fraud