Open Banking: Tremendous Opportunity for Consumers, New Security Challenges for Financial Institutions
New security standards around open banking focus on multifactor authentication and monitoring of transactions but largely ignore device security.
As security tools improve, malicious actors are increasingly operating as organized cybergangs and less sophisticated actors are falling behind, according to X-Force analysis of malware trends.
Insurance providers can build trust — and win over crucial market segments — by embracing digital transformation.
Cybercriminals are emulating PC malware to develop mobile banking Trojans that leverage malicious miners to steal cryptocurrency and deliver it to attacker-controlled wallets.
XMRig is popular among cybercriminals because it is open source, meaning threat actors can make relatively simple changes to its code to convert the tool into a cryptojacking mechanism.
According to IBM's "Future of Identity Study," consumers are beginning to prioritize security over convenience, making trust a crucial competitive advantage for financial institutions.
TrickBot is getting in on the cryptocurrency gold rush, expanding its operations to target digital wallets and exchanges using serverside injections and other malicious tactics.