Articles Tagged with ''Financial Cyber Security''

Goldman Sachs joins TCG to develop fintech security standards

Goldman Sachs joins not-for-profit TCG to define security measures and standards within FinTech

February 22, 2021

Trusted Computing Group (TCG) announced its commitment to strengthening the financial services industry against attack, as worldwide banking institution, Goldman Sachs, joins TCG in the fight for cybersecurity.

Insider threat for financial institutions a security risk

Insider threats present big risk to financial institutions

November 12, 2020

In new research from HelpSystems interviewing chief security officers in financial institutions about the security challenges they face, more than a third (35%) of survey respondents cite insider threats as one with potential to cause the most damage in the next 12 months.

Fraud continues to grow for financial services and lending firms, both before and during the pandemic

October 14, 2020

LexisNexis Risk Solutions released its LexisNexis Risk Solutions 2020 True Cost of Fraud Study: Financial Services & Lending for the United States and Canadian financial services and lending sectors.

Mitigating digital banking security issues during the pandemic

Ben Hartwig

September 25, 2020

Digital banking provides faster processing of financial transactions, more convenience, and a model that allows for the continuation of a financial industry even in the face of a pandemic. However, digital banking makes banks vulnerable to cyberattacks. Banks are now facing fresh security challenges that were brought on or affected by COVID-19. Here is what you need to know about them and how to protect yourself.

Fraud, Cybersecurity and Banking in Canada

Financial institutions across Canada are positioning themselves for a changing landscape.

Maggie McFadden

September 1, 2017

Since the late ‘90s in Canada, bank robberies have been on a decline; between 1998 and 2008, such incidents decreased by 38 percent, according to a report by Statistics Canada.

How New York is Shaking Up Cybersecurity

Steven Chabinsky

September 1, 2017

Something potentially groundbreaking is happening in New York, and its impact is being felt globally. Still, if you’re not in the financial services industry, and specifically regulated by the New York State Department of Financial Services (NYDFS), you may have missed it. What is this change? In short, it’s the first of what may become a wave of stringent state cybersecurity regulations that impose “minimum standards” on industry.

Banks Ramping Up Cyber Focus, Working to Coordiante Efforts

Securing banks and financial facilities takes building leadership capacity around security and underscoring its importance to executives.

Ed Finkel

December 1, 2016

Concerns about cybersecurity are overtaking those about physical security in the banking sector, although perhaps most front-burner have been issues that cross over into both realms.

5 Essential Cybersecurity Truths for CFOs

Cyber attacks have become one of the most worrisome risks considered chief financial officers

September 1, 2014

The rate of CFOs citing cyber attacks as a key concern has risen sharply over the survey’s four-year history, directly correlating to both the frequency and cost of cyber attacks.

Recent Data Breaches Hit Nearly 80% of Banks, Financial Accounts

Headlines continue to highlight data breaches, especially those compromising payment, banking and personal data.

May 1, 2014

The silver lining to the breaches, according to the ACI report, is that although data breach-related fraud has had a negative impact on banks’ and financial institutions’ bottom lines, more than 40 percent of respondents indicated that their customers have appreciated the proactive outreach and response to market events, which helps to keep financial institutions on the right side of customer satisfaction, rebuilding brand trust.

Massive Data Theft in South Korea Highlights Financial Cybersecurity Weakness

January 20, 2014

The theft of information linked to 80 million South Korean credit cards, including salaries, monthly card usage, credit rating and card numbers, has sparked widespread public concern, as cardholders rush to bank branches and overload call centers and service websites to see if their information as stolen.

The 2026 threat environment will be louder, faster, and more interconnected. The most pressing risks, from global political volatility to emerging tech disruptions, will challenge organizations to act amid ambiguity and protect credibility in an era of accelerating uncertainty.