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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. The attack began in 2007 and crossed 17 different countries.

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Four Steps for Managing Third-Party Cyber Security Risk

FICO

The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Would there be compliance exposure in the event of a breach at the supplier? Obtain evidence of ongoing compliance with standards (e.g., if necessary?

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April 2014: A Busy Month for Fraud Alerts!

Jack Henry

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks.

Fraud 88
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From Vault to Vulnerability: Modern Day Bank Robbers Hit the Web

NCR

Securing the Vault. While bank IT teams have made strides to protect customer data and limit credit card fraud, the security of the bank’s own internal systems has been taking a backseat. Here are a few steps that bank IT teams can take to better secure the vault: Assume the network has already been breached.

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Why Cyber Insurance Is Becoming a $20 Billion Market

FICO

A 2019 Allianz survey of risk management experts across 86 countries ranked cyber incidents as the biggest single point of risk for an organization, thus highlighting the need for an effective insurance policy to transfer risk from potentially damaging effects of a cyber-attack.

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Analysts Challenge US House Data On SME Cybersecurity

PYMNTS

Further, Kaspersky Lab found that 63 percent of FIs believe regulatory compliance doesn’t necessarily guarantee security. SMEs hit by cyberattacks don’t survive two years later , according to analysis from the Federation of Small Business (FSB) Home Office and MoJ Policy Unit. 80 percent of U.K. ”

Data 101
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FinDEVr Silicon Valley: Looking Back, Moving Forward

Fintech Labs Insights

Quoted in eWeek on the problem of app security. Announced its Cyber Security scholarship program. Extended its app-security protection to Apple TV. Added to its Compliance Document Management Solution, CertCapture. Introduced compliance solution to help meet new FRTB requirements. Arxan ( FD15 ).