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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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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat.

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4 considerations for banking leaders concerned about cyber security

NCR

Evaluation of risk also includes understanding potential exposure around the cybersecurity policies and systems of all vendors and third-party partners. An Information Security Officer (ISO) is mandated by federal regulations and plays a critical role in today’s digitally interconnected world. The Role of the ISO.

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Four Steps for Managing Third-Party Cyber Security Risk

FICO

Firms may require that they be named as additional insureds in supplier policies for those coverage areas. Cyber insurance is a rapidly growing area of specialty coverage for carriers.

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Cyberattack Closes Web Access To Canadian Government Agencies 

PYMNTS

It collects taxes, administers tax law and policy and oversees charities. The credentials used in the attack came from previous, non-government of Canada data breaches,” said Scott Jones, head of Canada’s Centre for Cyber Security, the agency that leads the government’s response to cybersecurity attacks. 19), officials told CNN.

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Global Security Officials Meet To Discuss 5G Security

PYMNTS

It was meant to outline practices to create a coordinated approach to security and policy surrounding the technology. We fully support international standards, international verification that is based on facts and evidence,” said Huawei Senior Vice President and Global Cyber Security and Privacy Officer John Suffolk.

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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.

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