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Financial Institutions

Businessman typing on keyboard to input username and password showing authentication methods for financial institutions
Cyber SecurityNews

80% of Financial Institutions Had a Breach Due to Legacy Authentication Methods, but Most Refuse to Upgrade

July 28, 2022
Researchers found that although 80% of financial institutions suffered data breaches per year from vulnerabilities in their authentication methods, 64% refused to upgrade.
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Hacker hand stealing data from laptop at night showing data breach
Cyber SecurityNews

Flagstar Bank Data Breach Leaked Sensitive Information of 1.5 Million Customers

June 29, 2022
Threat actors accessed personally identifiable information (PII) and Social Security numbers of more than 1.5 million customers in the Flagstar Bank data breach.
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Woman analyzes data showing security monitoring for financial institutions
Cyber SecurityInsights

Security Monitoring Must Do’s for Financial Institutions – How Visibility Helps Find and Prevent Breaches and Maintain Compliance

February 25, 2022
Financial institutions are 300 times as likely as other companies to be targeted by a cyberattack. Unfortunately, the systems designed to help (such as alerting or security monitoring tools) can overwhelm a bank’s IT department.
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Iron chain fastened with a padlock on a computer keyboard showing ransomware reporting for financial institutions
Cyber SecurityNews

New Ransomware Reporting Rules for US Financial Institutions: Proposed Bill Would Require Government Permission for Payments Over $100,000

November 18, 2021
A new ransomware reporting bill introduced to the House of Representatives proposes putting new requirements on financial institutions, some of which are likely to be controversial. Any payment of over $100,000 would require the victim to first obtain special permission from the US Treasury.
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Illuminated building of bank at night night showing financial sector fight against fraud across digital channels
Cyber SecurityInsights

5 Priorities for Banks to Secure the Post-Pandemic Shift Towards Digital and Mobile Channels

February 23, 2021
The financial sector, state and federal government agencies, as well as consumers are being targeted with various types of fraud, identity theft and data security breaches during the pandemic.
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Tired businessman at desk showing the BEC attacks on three British and Israeli banks for $1.3 million
Cyber SecurityNews

BEC Attacks by “The Florentine Banker” Strike Three British and Israeli Banks for $1.3 Million

May 14, 2020
$1.3 million BEC attacks on three large financial services companies in U.K. and Israel shows how far cyber criminals are willing to go and what they are capable of.
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Gold bitcoin, handcuffs and a metal lock on a laptop showing the ransomware attack on FinTech company Finastra
Cyber SecurityNews

Ransomware Attack Hits FinTech Company Finastra

March 30, 2020
FinTech company Finastra recently suffered a ransomware attack that caused disruptions to its global operations, potentially due to running unpatched servers for a long period of time.
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Wall Street signboard in night showing financial services companies lack plans to address privacy risks
Data ProtectionNews

Study Shows That One-Third of Financial Services Companies Lack Clear Plans to Address Privacy Risks

March 27, 2020
Study shows the lack of protection mechanism against privacy risks hinders both the financial services companies and customers from benefiting from data-centric value-added services.
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Graph lines on binary code showing SWIFT fraud on the rise
Cyber SecurityNews

SWIFT Fraud On the Rise According to EastNets Survey Report

December 11, 2019
Recent survey on 200 banks worldwide found 4 in 5 of them had experienced at least one SWIFT fraud attempt since 2016, and the problem appears to be growing.
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Fintech icons on abstract financial technology background showing the privacy concerns around financial data in Google-Citi partnership
Data PrivacyNews

Privacy Concerns Around Financial Data in Google-Citi Partnership

November 26, 2019
Sharing of financial data in the Google-Citi deal quickly attracted the attention of consumers, lawmakers and regulators concerned about the potential privacy implications.
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Doctor monitoring patient using medical devices showing internet of medical things

Internet of Medical Threats? Exploring Bluetooth Low Energy Vulnerabilities in Medical Devices

Hand holding credit card showing remote control compromise of payment terminals

Hackers Reportedly Exploited Wiseasy’s Remote Control Dashboards to Compromise 140,000 Payment Terminals Worldwide

Silhouettes of engineers working in blurry data center showing privacy challenges

The Privacy Triangle: Emerging Privacy Expectations and Challenges

Website of GitHub showing malicious code in code repositories

Tens of Thousands of GitHub Code Repositories Cloned With Malicious Code Added; Hacker Claims Campaign Was Elaborate Bug Bounty Effort

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