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The cyber security threat landscape in financial services

Insights on Business

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry.

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KPMG: How AI Defense Can Counter Faster Payments Fraud

PYMNTS

A person calls to inform a consumer that his or her account had been frozen because of what was supposedly a “fraudulent transfer” or some other problem. Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. The request?

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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

Additionally, Kellerman called for a tax credit to encourage firms in the financial vertical to set aside 10 percent of their information technology (IT) budgets at a minimum toward cybersecurity. As a result, he said, Americans need to have information to keep themselves and their communities safe.

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4 considerations for banking leaders concerned about cyber security

NCR

Last month was National Cybersecurity Awareness Month, an initiative to provide consumers with the information they need to stay safe online, so in the wake of this, it is a good time for banks to consider whether all possible steps are being taken to protect their customers in our digitally connected world. Cyber Incident Response Plan.

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. Credit Decisions.

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Social Media Can Make Bank Customers Susceptible To Scams

PYMNTS

Unintentionally making themselves targets for scammers, customers may become vulnerable to fraud by complaining to banks on social media when systems crash. After problems with an information technology migration locked thousands of clients out of accounts at the U.K.’s

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Central Bank Of Sri Lanka Looks To Build KYC System On Blockchain Tech

PYMNTS

“The increasing demand for digitalized financial services has created an opportunity for Sri Lanka to evaluate the possibility of adopting Blockchain Technology to further advance Sri Lanka’s financial sector,” the bank’s invitation to apply read.