Banks, like other businesses, are taking precautions to make customers feel safe during the COVID-19 pandemic. Placing physical distancing markers on the floor, sanitizing ATMs, installing plexiglass partitions at teller booths and requiring scheduled appointments are just some of the ways financial institutions are mitigating risks for customers. Video surveillance can play a vitally important role right now, as banks look to ensure compliance with these new COVID-related safety measures. IP cameras with intelligent security analytics can help rapidly and accurately detect compliance issues, as well as other suspicious or atypical behavior. After all, banks must continue to monitor physical security even throughout the pandemic and today’s IP cameras with intelligent system-on-chip (SoC) technology can help lessen this burden with highly accurate notifications.
ESET researchers explored Mekotio, a banking trojan targeting Spanish- and Portuguese-speaking countries: mainly Brazil, Chile, Mexico, Spain, Peru and Portugal. Mekotio boasts several typical backdoor activities, including taking screenshots, restarting affected machines, restricting access to legitimate banking websites, and, in some variants, even stealing bitcoins and exfiltrating credentials stored by the Google Chrome browser.
As the financial services industry moves toward an ever-greater dependence on technology, we must always keep an eye on the future to ensure that any new technological advancement or implementation delivers the same, if not better, benefits and risk management capabilities. One emerging area that has garnered a lot of attention in recent years is Distributed Ledger Technology (DLT). While DLT holds great promise, there is currently no clear path around how to implement the technology in a way that addresses documented and evolving security risks.
Joyce Flinn, Vice President and Information Security & Disaster Recovery Officer at First United Bank & Trust, has been appointed to the Cyber Risk Institute Board of Directors.
Artificial Intelligence (AI) has gone mainstream when it comes to customer interactions, according to a new report from the Capgemini Research Institute.
Charles Blauner is CISO in Residence for Team8, a venture group focused on cyber, data and AI technologies with roots in Israel’s elite military intelligence unit 8200. With an information security career primarily in financial services spanning over 30 years, Blauner held senior security executive roles for Citigroup since 2005. Prior to that, Blauner held several roles, including CISO at JP Morgan and Deutsche Bank.
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