Let's examine nine different categories of threats against the metaverse and inside the metaverse, including cyber-physical crime, financial fraud, legal implications and more, according to Trend Micro.
In the face of this complex landscape, there are three main areas where risk managers in financial services should focus to continue to evolve their preparedness and response to cybersecurity threats.
Ransomware actors are using significant, time-sensitive financial events, such as mergers and acquisitions, to target and leverage victim companies, according to the Federal Bureau of Investigation (FBI) recent Private Industry Notification (PIN).
Salt Labs researchers investigated a large financial institution’s online platform that provides API services to thousands of partner banks and financial advisors. As a result of multiple API vulnerabilities, researchers were able to launch attacks where:
Biometric technology, and specifically its most modern iteration, facial recognition, has found its way into security systems essential to everyone. We rely on it to safeguard some of our most prized belongings, including our smartphones, laptops and now, with Apple Pay, even our bank accounts and credit cards. Security experts applaud facial recognition as one of the most secure and efficient means of authentication available today.
Why then, has the industry most hinged on security and identification – Banking, Financial Services and Insurance (BFSI) – been so slow to adopt this new wave of technology?
Rather than be caught off-guard and left to play catch-up, security and IT professionals should begin planning now for the many new and updated regulations, standards and proposed pieces of legislation that will be sweeping over the financial services industry and other sectors in the near future.
Comerica Incorporated announced that Juan Rodriguez has been named Executive Vice President, Chief Information Security Officer. Reporting to Executive Vice President and Chief Technology & Operations Services Officer Megan Crespi, Rodriguez oversees Comerica's enterprise-wide information security policy, strategy, architecture, operations and capability enhancements of the bank.
