As banks innovate to meet the changing demands of connected consumers, they are also increasing their attack surface, potentially making highly sought-after user data more accessible to cybercriminals. To mitigate these threats, financial services firms have to be aware of the risks that come with new capabilities and adjust their security architecture accordingly.
Cyber attacks against financial institutions have been increasing in the past few years. But despite the apparent benefits that cloud computing can offer the financial industry, security concerns remain a roadblock when dealing with such sensitive data and strict regulations.
The number of data breaches have increased exponentially over the past few years, with a record 1,579 breaches in the U.S. alone during 2017 – and financial services firms fall victim to cybersecurity attacks 300 times more than other businesses. Here's how resolution services can mitigate customer complaints and help retain them.
A new strain of mobile malware, known as FakeBank, has been discovered by security researchers from Trend Micro. The new malware has been found in several SMS/MMS management software apps and is designed to steal banking information and funds. How do you detect these fraudulent transactions before they create a financial nightmare consumers and companies?
The cryptocurrency boom is underway. The talk of the town isn’t only about Bitcoin, the most popular form of digital cash. The value of some altcoins, including Monero (XMR), is steadily reaching new heights as well, adding more fuel to the furnace of the overall hysteria.
Although Bitcoin price dropped substantially this month, cryptocurrencies still attract myriads of swindlers like honey attracts bees. As new waves of users rush into crypto, there will certainly be scammers waiting for them.
In the previous article I reviewed the Segregated Witness (SegWit), a Bitcoin soft fork developed to scale Bitcoin by trimming transaction data that was stored in the block and segregating it in another structure, freeing up space for more transactions. I finished the article promising a follow-up article on SegWit2X, which was scheduled to be released in November 2017.
Financial institutions are suffering cyberattacks of such large volume and capabilities that simply adding more one-off security solutions to the stack will not be sufficient to detect and respond to data breaches. To stay a step ahead of cybercriminals, financial institutions should focus of the automation of threat intelligence to inform security updates as quickly as possible.
On August 1st Bitcoin was split into Bitcoin (BTC) and the clonecoin Bitcoin Cash (BCH). The means of this split was both a source code “hard fork,” creating an incompatible and independent crypto currency, in conjunction with a clone of the entire blockchain. Everyone who had bitcoins (BTC) before the fork has the same number of coins in bitcoin cash (BCH). In this article, I’ll explain the security and risks related to this split by discussing the motives, technical differences, and the consequences to the eco-system.
Blockchain technology offers a more secure and reliable way of improving cybersecurity in organizations. This article discusses how blockchain-enhanced cybersecurity can help protect organizations from ransomware attacks like WannaCry and Petya.
There are some key things that a financial services firm needs to care about when it comes to security: Ashwin Krishnan offers his expert advice to help financial services firms develop their information security practice.
Government and business leaders in every corner are experimenting with blockchain solutions. But these projects face the risk of becoming dead-on-arrival if their designers fail to prepare for the looming threat of quantum computers.
Good Bots. Bad Bots. Can you tell those apart from the ‘normal’ traffic generated by the humans using your network? Sean Martin works with the team at Distil Networks to identify 10 ways to spot bad bots on your network?
The Payment Card Industry Security Standards Council has updated its data security standard. PCI DSS 3.2 went into effect November 1, which means many organizations are now scrambling to come into compliance--while also preparing for the busiest time of the year.
Money laundering is increasingly sophisticated and insidious. But we actually have access to all of the information we need to make AML more effective. In this Experts Corner, Simon Moss, CEO of Pneuron Corporation, explores the options to combat this serious crime.
The Swift Interbank monetary exchange system has just warned of a 2nd cyber attack, following last month's $81 Bil loss by the Bangladesh Central Bank, in what it calls a “wider and highly adaptive campaign targeting banks."
Thanks in part to research and testimony by Flashpoint, two hackers responsible for developing malware that infected over 50 million computers have been sentenced to prison. Expert Lance James from Flashpoint walks us through the history of arrests that likely halted what could have been the most prolific and undetectable botnets distributed to date.
Mobile malware has already compromised sensitive military and business related information. Enterprises should take this threat seriously and close any gaps in mobile security to avoid breaches of sensitive information.
Expert Oren Koriat walks us through the Marcher banking malware.