Financial institutions must protect themselves from salami attacks, which consist of a sequence of small, fraudulent transactions that can easily bypass detection but, combined, can result in considerable losses.
Financial institutions accelerated the implementation of online services during the pandemic, aiming to simplify customers’ access to their bank accounts. Unfortunately, they also simplified cybercriminals’ attack vectors. Financial institutions can employ a series of cybersecurity tools to mitigate the increased risk of cyber fraud.
Shirin Hamid, an experienced cybersecurity and IT professional, is expected to begin as the CIO and Director of the IT Department at the International Monetary Fund (IMF) in January 2022.
Sukumar Reddy Saddi has been named Global Integrity Finance's Chief Technology Officer. Saddi will lead the company's end-to-end information technology strategy and development of financial applications.
LendingHome, a real estate loan provider, has named Carrie Weber their new Chief Risk Officer. Weber will develop a risk management strategy for the firm and oversee risk and compliance issues.
Finance teams within the enterprise are vulnerable to unique and specific risks, fraud and security challenges. Learn how security professionals can mitigate risk among teams responsible for accounting, payments, audits and everything in between.
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.
