Spammers are targeting financial institutions using Excel Web Query (IQY) files that conceal a new downloader malware, according to security researchers.
Researchers discovered a new ATM fraud scheme that attacks both the front and back ends of ATM networks virtually, making it harder to remediate than traditional schemes that target physical machines.
Given the increasingly sophisticated and interconnected nature of the cyberthreat landscape, organizations must collaborate across sectors to improve cyber resilience around the world.
New regulation requires all financial institutions in New York City to conduct thorough risk assessments for application security and other IT issues and implement programs to address those risks.
A recent report revealed that the cost of noncompliance is 2.71 times higher than the cost of aligning with data protection regulations.
The mobile revolution has made it simpler and faster for banking customers to conduct financial transactions, but it has also expanded the attack surface for fraudsters aiming to steal sensitive data.
The mean cost of an insider threat is $8.7 million, according to a recent global study, and data breaches involving negligent employees or contractors can cost organizations as much as $26 million.
Derivatives clearing and prime services providers face many new challenges, including intensifying regulatory requirements and legacy systems that can't keep up with evolving business models.
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.
The World Economic Forum enlisted several large companies to help it develop a framework to help improve fintech cybersecurity in the face of intensifying privacy regulations.