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. “It’s Meshell was joined on stage by Sean McKee, Senior Manager, Cyber Threat Management, TD Bank, to provide a perspective on how to ensure that a financial services company can gauge its readiness for a cyber security attack. Focus on cyber resiliency.

Girl Scouts Will Get The Chance To Earn Badges In Cyber Security

PYMNTS

Girl Scouts will soon get the chance to earn their first ever cyber security badges. The Huffington Post reports that Girl Scouts can earn the first of 18 cyber security Girl Scout badges beginning in September 2018. million Girl Scouts in kindergarten through sixth grade and is being developed in a partnership between the Girl Scouts and Palo Alto Networks, a security company.

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Cyber security: Are you cyber resilient? (You better be)

Accenture

Cyber security is a top-of-mind issue with no easy answers and no absolute protections. Cyber attacks are frequent, evolving, costly—and no retail bank is totally immune. Becoming cyber resilient A recent Accenture point of view challenges financial services organizations to.

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. Yesterday (Tuesday, November 10), the authorities charged three men with what they call “pump and dump” manipulation of publicly traded stock, mining of nonpublic corporate information, money laundering, wire fraud, identity theft and securities fraud.

DHS Says SEC Computers Have Five Critical Cyber Security Weaknesses

PYMNTS

It turns out even the Securities and Exchange Commission’s (SEC) computers aren’t super secure, even following a breach last year, according to a report in Reuters. Department of Homeland Security (DHS), the news service reported the DHS had identified five “critical” cyber security weaknesses on the SEC’s computing systems as of the end of January. The greatest threat to our markets right now is the cyber threat,” said Peikin in the exclusive interview.

Cyber security "starts with the board"

Bobsguide

Just as we rang in the 2020s, foreign exchange company Travelex found itself battling a well-coordinated ransomware and meticulously planned cyber- attack. This attack came as a timely reminder that, as financial firms extend their offering and reliance on all things digital, we can only expect

New York Amends Cyber Security Proposal

New York's State of Mind

New York State Regulatory technology cyber securityI’m back and ready for a year that promises to be a blogger’s dream come true. On December 28th, New York’s Department of Financial Services reissued its proposed Cybersecurity Program Requirements which are to be phased in starting in March. Although the amendments are designed to clarify that entities covered by these regulations (a category that […].

Are you asking questions about cyber security?

New York's State of Mind

The Federal Financial Institutions Examination Council (FFIEC), which reflects the combined wisdom of all the financial regulators including the NCUA, released a “statement” yesterday in which it strongly recommended that financial institutions participate in the Financial Services Information Sharing and Analysis Center (FS-ISAC) as part of their efforts to enhance the cyber security of their […]. Advocacy Compliance Legal Watch cyber security

Are You Ready For NY’s Cyber Security Regs?

New York's State of Mind

New York State Regulatory technology cyber security regulationOn the first day back from summer vacation my daughter has an assignment due for her Social Studies class and even though I’ve been asking her about it, I’m pretty sure there is much work that needs to be done. Summer time does not lend itself to working. Similarly, consider this blog just a friendly […].

A Proven Approach for Enhancing Your Cyber Security and Business Continuity Testing

Strategically Speaking

Information Security Cybersecurity Risk/Fraud

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. The first step is determining whether additional information is needed to assess cyber risk.

Why Don’t People Care About Cyber Security?

New York's State of Mind

General cyber security IRSThere are an increasingly large number of examples of America changing from a “Can do” to a “Can’t do” or “won’t do” nation. The latest example is the news that “more than twice as many taxpayer accounts were hit by identity thieves than the agency first reported, with hackers gaining access to as many as 330,000 […].

Cyber security top of mind for auditors

ABA Community Banking

Best companies engage board, have audit plan Risk Management Cyberfraud/ID Theft. 1Risk Management

4 considerations for banking leaders concerned about cyber security

NCR

For example, social engineering through phishing e-mails is one of the main causes of cyber breaches to an organization’s systems. An Information Security Officer (ISO) is mandated by federal regulations and plays a critical role in today’s digitally interconnected world.

Jack Henry Annual Conference 2017 – Fintech, AI and Cyber Security

William Mills

Another crowd favorite was the cyber-attack drill where attendees acted as part of an incidence response team navigating a data breach and managing the aftermath. The 2017 Jack Henry Annual Conference (JAC) took place October 15-19 in Nashville, Tenn.

Cyber Security This Cyber Monday

Strategically Speaking

List of cyber-Monday deals, check. This year, Internet users face sophisticated cyber threats that have been active and evolving for the past year. Author: Marissa Quebbeman, MQuebbeman@jackhenry.com. Holiday gift wish-lists, check. Malware installed while surfing the web to find the best deals…huh? The holiday shopping season usually carries elevated risk – whether shopping at a mall or online.

Breach Clarity debuts tech to help banks thwart data thieves

American Banker

Cyber security Data breachesThe startup’s tools help banks and consumers deter account takeover in the aftermath of a data breach.

Tools 92

Coronavirus scams to watch out for

American Banker

Fraud detection Card fraud Phishing Cyber security Cyber attacks Malware CoronavirusFinancial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

CIOs and cyber security—a growing match

ABA Community Banking

Execs starting to take cyber response more seriously Risk Management Blogs Making Sense of it All Security Cyberfraud/ID Theft. 1Making Sense of it All

One for All and All for Cyber Security

Bobsguide

Cyber security has caught the attention of the board as no board member, CEO or CFO wants to see their company headlined in the news in association with the latest data breach.

Cyber security: making banking safer

The Banker Technology

Protecting the banks’ crown jewels – money and personal data – may have become more difficult than ever, but financial institutions have fortified their defences with a little help from their fintech friends

NY To Feds: Get Serious About Cyber Security

New York's State of Mind

NY’s Department of Financial Services yesterday sent out a unique letter to key state and federal regulators, including the NCUA, urging them to start implementing a more rigorous and robust cyber security framework and implicitly warning them that New York will go ahead with efforts to strengthen oversight of cyber security with or without their […].

FFIEC's 7 cyber security priorities

ABA Community Banking

Self-assessment tool will help banks weigh cyber risk Compliance Risk Management Compliance/Regulatory Cyberfraud/ID Theft. 1Risk Management

Four themes to get right in 2020: Libor, SFTR, cyber security and market equivalence

Bobsguide

As is traditional this time of year, our good intentions of new year resolutions fade to what we might expect to be dominant themes in 2020, and it has to be said that if certain plans are not yet well advanced you might want to get to it. Libor. In 2018 I wrote about the impending move away

October is National Cyber Security Awareness Month And it’s not too late to put it to work

Matt Wilcox Pro

I am the first to admit that when it comes names of commemorative months, National Cyber Security Awareness Month isn’t the sexiest. Reducing it to the initialism NCSAM makes it easier to write, but not easier to pronounce—En-see-sam? Nik-sam? Ink-sam?—and

FDIC warns of scams being carried out in its name

American Banker

Fraud Cyber security CoronavirusFraudsters who claim they work for the agency are taking advantage of coronavirus confusion to try to con consumers out of bank account information and money.

FDIC 79

Relieving The Regulatory Burden: Cyber Security and Asset Management

Bobsguide

If this wasn’t enough, growing cyber security breaches - for companies globally – have become a major concern; one that cannot be neglected. The regulatory burden placed upon the asset management community increases year on year.

When it comes to cyber-security: Change you can’t take seriously

New York's State of Mind

All you need to know about the President’s speech laying out his proposals for enhanced cyber security and consumer protections is that as he was delivering it the US Central Command’s twitter account was being taken over by Islamic State terrorists Who says terrorists don’t have a sense of irony. Advocacy General cyber security President Obama

Bank CIOs confront challenge of so many employees working at home

American Banker

Work from home M&T Bank CIO First Horizon National Cyber security Community banking Regional banks CoronavirusAs companies move work off-site because of the pandemic, a host of issues have arisen around remote access, network monitoring and cybersecurity.

Obama sets cyber security agenda

ABA Community Banking

Includes “Consumer Privacy Bill of Rights” Technology Payments Risk Management Security Cyberfraud/ID Theft. 1Risk Management

Cyber Security Firm Bay Dynamics Completes Funding Round

Payments Source

Cyber risk analytics provider Bay Dynamics has completed a $23 million Series B financing round through Carrick Capital Partners. analytics news risk-analytics

Bank tech vendor Finastra hit with ransomware attack

American Banker

Ransomware Cyber security Cyber attacks Core systems Cloud computingThe attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.

Cyber security’s up to you, banks

ABA Community Banking

Customers fret about breaches, but do little Technology Risk Management Blogs Making Sense of it All Cyberfraud/ID Theft. 1Making Sense of it All

Two Cyber Security Investments With a Silver Lining

Banking 2020

MarketWatch reported that in April 2015, cyber attackers threatened more than 100 financial firms with DDoS extortion. It’s clear that cyber threats and identity theft tactics are getting smarter, and that banks need to amp up their security practices to combat this evolution.

NY To Feds: Get Serious About Cyber Security

New York's State of Mind

(For those of you who received this morning’s post, by EMail as you can see there was a glitch with the headline) NY’s Department of Financial Services yesterday sent out a unique letter to key state and federal regulators, including the NCUA, urging them to start implementing a more rigorous and robust cyber security framework […].