CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities. The Amendments contain three significant changes relating to ransomware.

Regulation 147

Regulation Cyber Security New York Trends 147

Abrigo

DECEMBER 5, 2016

Demand for effective cyber risk management is so strong that the AICPA is developing common criteria for CPAs to use as they help clients evaluate their programs and efforts. I know a lot of people do not take security awareness seriously, but for Sageworks, the No. Develop a security awareness program.

Cyber Security 150

Cyber Security Security Software Meeting 150

PYMNTS

FEBRUARY 6, 2019

Reuters , citing cybersecurity researchers, reported that the attack was part of a global hacking campaign initiated by the Ministry of State Security in China aimed at stealing intellectual property and corporate secrets. But if I put on my paranoia hat, this could have been catastrophic,” he said in the report. “If

Software 123

Software Company Cyber Security Security 123

PYMNTS

JANUARY 9, 2020

We have now contained the virus and are working to restore our systems and resume normal operations as quickly as possible,” the company said in a statement. The National Cyber Security Centre said it was providing technical support. Travelex’s network of branches continue to provide foreign exchange services manually.”.

Cyber Security 131

Cyber Security Groups System Data 131

Bobsguide

MAY 30, 2016

Almost half of firms operating in the sector (46%) ranked cyber security as the top systemic risk to the economy, with more than 70% of banking CEOs identifying poor cyber security as a threat to growth – making cyber security as much a boardroom issue as it is a technical issue.

Cyber Security 60

Cyber Security Security System Operations 60

PYMNTS

JUNE 26, 2018

Kaspersky Lab , the security company, announced Tuesday (June 26) a new “State of Industrial Cybersecurity 2018” survey, which found that 65 percent of organizations globally believe that OT/ICS security risks are more likely with IoT over the next year.

Survey 111

Survey Company Cyber Security Security 111

PYMNTS

JANUARY 29, 2018

For the businesses that are aware, a bit more than a quarter said they’ve made changes to their operations in order to comply with the new rules aimed at data privacy and security. A press release published last week by gov.uk highlighted a government survey that found only 38 percent of businesses have even heard of GDPR.

Cyber Security 112

Cyber Security Survey Regulation Security 112

PYMNTS

MAY 15, 2017

National Security Agency, and Friday’s tally comes to more than 126,000 cases of infection. In China, individual users utilizing their Windows operating systems were impacted. The NHS has experienced a major cyber-attack, we are working with law enforcement and our advice will follow shortly!” Similarly FedEx Corp.,

Cyber Security 101

Cyber Security National Security System 101

PYMNTS

SEPTEMBER 17, 2018

He and an accomplice operated from Nigeria, targeting the U.S., In this day and age, most companies use electronic accounting systems and pay accounts electronically, which can make them susceptible to business email compromise scams,” said Cybercrime Squad Commander Detective Superintendent Arthur Katsogiannis, according to ZDNet. “We

Idaho 153

Idaho Missouri Cyber Security Fraud 153

PYMNTS

AUGUST 30, 2016

Singapore’s financial authority said it will look to consolidate exiting legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework. MAS will also establish a new National Payments Council (NPC) in Singapore as part of the oncoming reforms.

Fintech 101

Fintech Cyber Security National Regulation 101

PYMNTS

JUNE 15, 2017

Security isn’t just about catching the bad guys as they run away with store merchandise. And as part of a network, they can be a key piece in the preventative puzzle, triggering other elements of the security suite to activate. And surveillance isn’t just about identifying bad guys after the fact. and 10:00 a.m.

Fraud 101

Fraud Security Video Retail 101

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The major difficulty for FIs and businesses is that some compliance standards are harsher than others, which can lead to security weaknesses.

Regulation 160

Regulation Policies Data Compliance 160

Abrigo

OCTOBER 31, 2014

This secures your data and disguises your location. Use a Known Good Computer, or Live CD, such as the Air Force’s Lightweight Portable Security. This is a Linux operating system that boots from a CD. Every time you reboot it’s the exact same, secure platform. Use a Virtual Private Network.

Online 199

Online South Carolina Google Cyber Security 199

Cisco

APRIL 7, 2019

How can firms provide rich customer experiences in an ever-changing environment without sacrificing security along the way? Cyber security is more than just “top of mind.” All 30 had at least one known security risk identified, and 25% included at least one “high risk security flaw.”. Triage legacy systems.

Trends 64

Trends Cyber Security Big Data Analytics 64

Insights on Business

MARCH 5, 2019

In a world where cyber threat is constant, staying ahead of vulnerabilities is critical. It means ensuring your first line defense systems can flag and fix issues quickly and your second line defense is primed to step in when needed. 590 Madison Avenue. New York City. 5:00 – 8:00 PM.

New York City 70

New York City Cyber Security New York Risk Management 70

Cisco

APRIL 7, 2019

How can firms provide rich customer experiences in an ever-changing environment without sacrificing security along the way? Cyber security is more than just “top of mind.” All 30 had at least one known security risk identified, and 25% included at least one “high risk security flaw.”. Triage legacy systems.

Trends 48

Trends Cyber Security Big Data Analytics 48

PYMNTS

DECEMBER 20, 2017

The company announced this week that it deployed a “blockchain-inspired” technology to manage collateral in its ledger and facilitate the sending of cash and securities. The distributed ledger platform was developed by Baton Systems. The company is currently examining other use cases for the platform.

blockchain 135

blockchain Cyber Security Groups Regulation 135

FICO

DECEMBER 16, 2019

Fraud teams operate with lean structures. However, new job roles that are being created sit within digital areas such as IoT, online digital security and cyber security, suggesting that some preparation is happening for identifying and addressing new risks.

Survey 52

Survey Fraud Cyber Security Compliance 52

Jeff For Banks

FEBRUARY 4, 2023

Vendor management due diligence, such as "Where can I find third-party reviews on the nCino loan operating system?"; Assistance in cyber security measures, such as "Describe the 2021 Kaseya ransomware attack."; Talent management, such as "What do Generation Z want from their employers?";

United States 78

United States US Cyber Security Taxes 78

Celent Banking

OCTOBER 12, 2016

Most cyberattacks succeed because of weaknesses in people, processes, controls and operations. This is the definition of operational risk. Therefore, it makes sense to tackle cyber risk with the same tools you use to manage operational risk.

Risk Management 100

Risk Management Operations Management Security 100

PYMNTS

JUNE 13, 2017

The recent attack on the Ukrainian power grid should serve as a wake-up call for all those responsible for the security of critical systems around the world,” warns ESET Senior Malware Researcher Anton Cherepanov in the release. This report on cybersecurity comes as Ukraine is becoming more of a hotbed for cyber criminals.

New Jersey 100

New Jersey System Industry Fraud 100

Insights on Business

MAY 18, 2018

The model delivers better customer experiences, creates operational efficiencies, and can lead to new revenue sources. Financial institutions are leading the charge in building security immune systems, knowing they are most threatened. In my mind, success follows with three operational goals: 1. Efficiency.

Operations 93

Operations Security Cyber Security Customer Experience 93

Ublocal

MARCH 10, 2023

Review Your Passwords Without strong passwords on your accounts, any other security measures you take will be less effective. Not only can excessive emails be a source of stress, they can also become a security problem. Finally, secure your devices with a password, PIN or other login to help protect your email.

social media 52

social media Security New Hampshire Data 52

PYMNTS

JUNE 8, 2018

based Immersive Labs for its cyber security war games demonstrates the enduring appeal of that adage. Other companies that took part in the exercise included BAE Systems , Lockheed Martin , Northrop Grumman and Raytheon , “all of whom are members of the U.S. Defense Industrial Base,” Boeing said.

Exercises 151

Exercises Louisiana Cyber Security Tools 151

Perficient

APRIL 2, 2021

AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. AI may be used to detect threats and malicious activity, reveal attackers, identify compromised systems, and support threat mitigation.

Regulation 309

Regulation Industry Risk Management Analysis 309

FICO

DECEMBER 1, 2022

Proper model package definition will improve the operational benefits of AI. This will allow updates to be integrated more smoothly into the existing rules and strategies of the larger artificial intelligence system. As a result, only about a quarter of companies have AI systems in widespread production. Time to market.

Analytics 98

Analytics Phoenix San Diego Tools 98

Jack Henry

APRIL 30, 2014

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. One such attack by the group Unlimited Operations was able to net over $40 million. Distributed Denial-of-Service (DDoS) Cyber-Attacks and Risk Mitigation. Participate in industry information sharing forums. FBI InfraGard. Regional Coalitions.

Fraud 88

Fraud Cyber Security ATM FDIC 88

FICO

AUGUST 9, 2016

But what dominated the discussion among more than 40 business continuity and cyber security experts was not malware but “humanware” — that is, people. Most delegates had to concede that their business operations conventions probably led to inadvertent exposure. Testing for susceptibility on a regular basis is also important.

Cyber Security 40

Cyber Security Exercises Conference Security 40

FICO

JUNE 9, 2022

Rules-based Systems Continue to Underperform. With AML operations in many banks deluged with false positives, it’s no surprise that sophisticated money launders continue to evade detection. FICO’s unsupervised ML approach is designed to be agnostic to the alert system and past outcomes, by characterizing customer transaction behavior.

Analytics 52

Analytics San Diego Cyber Security Data 52

FICO

APRIL 7, 2016

For those of you who aren’t familiar, The Institute for Operations Research and the Management Sciences (INFORMS) is the largest society in the world for professionals in the field of operations research (O.R.), management science, and analytics.

Analytics 40

Analytics Cyber Security Conference Fraud 40

Banking 2020

NOVEMBER 24, 2015

The organisation said: “Banks’ and card companies’ security systems detected and prevented a total of £910.9 Banks face multiple investment choices as they upgrade legacy systems. The loser in this race, at some banks at least, may be the fraud systems. Banks and card company security systems stopped a total of £355.4

Fraud 40

Fraud Cards Cyber Security System 40

NCR

MAY 3, 2016

But as attacks continue to become more targeted and sophisticated, IT teams are struggling against a range of agents, from common hackers to nation-states, to keep their networks and their vaults secure. Securing the Vault. Establish an enterprise-wide security policy. Enforce your security policy. The Turning Point.

Policies 40

Policies Security ATM System 40

FICO

JANUARY 30, 2017

I talked about using the FICO fraud data consortium to determine when data shifts can invalidate the models and, more menacing, when these shifts reveal subtle new fraud patterns that can indicate the work of fraudsters and cyber criminals, who know how to go “low and slow” to evade detection. Follow me on Twitter @ScottZoldi.

Analytics 40

Analytics San Francisco Cyber Security Fraud 40

FICO

APRIL 12, 2017

Depending on the degree of variance, we can assess how likely the behavior is to be aberrant and thus potentially fraudulent or criminal — or, in the case of a network device, how likely that endpoint is to have been compromised by a cyber attacker. Power at scale: Enhancing fraud, compliance and cyber security defenses .

Analytics 49

Analytics Fraud Compliance Comparison 49

PYMNTS

NOVEMBER 13, 2017

But not to worry, folks: This is just an inconvenient speed bump on the way to a future where cryptocurrencies – bitcoin and Ethereum and the 998 offspring they beget – become the underpinning of our new global financial system. PayPal’s India Push. said Randal Quarles, new member of the Fed’s Board of Governors. “I

St. Louis 108

St. Louis cryptocurrency Cyber Security Fintech 108

FICO

APRIL 10, 2020

Crossing the COVID-19 Chasm - Key takeaways: The COVID-19 situation exposed glaring weaknesses in businesses’ readiness to operate virtually, especially in areas like decisioning, which require huge volumes of diverse, real-time data. Companies scrambled to virtual operations, in some cases, with only limited access to critical systems.

Innovation 52

Innovation Data Strategy Operations 52

FICO

APRIL 10, 2020

Key takeaways: The COVID-19 situation exposed glaring weaknesses in businesses’ readiness to operate virtually, especially in areas like decisioning, which require huge volumes of diverse, real-time data. Companies scrambled to virtual operations, in some cases, with only limited access to critical systems. Then COVID-19 hit.

Innovation 52

Innovation Data Strategy Operations 52