New York's banks will face new cybersecurity assessments carried out by the Department of Financial Services (DFS), under plans unveiled by Governor Andrew Cuomo.
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.
What could this mean for the banking and finance industry?
April 1, 2014
A recent study shows that 95 percent of American bank ATMs still run on Windows XP, but Windows is discontinuing support (including security updates) of the XP operating system as of April 8, 2014.
How enterprises manage incidents outlines the strength and longevity of the business, and how they report vulnerabilities and adapt after a breach helps to stop incidents from reoccurring.
North American financial executives perceived an increase in the rate of online account takeover attacks compared to their global counterparts in 2013
March 1, 2014
North American financial executives perceived an increase in the rate of online account takeover attacks (63 percent) compared to their global counterparts (50 percent) in 2013, but the actual rate of attempted and actual wire and automated clearinghouse (ACH) fraud related to account takeover is lower in North American financial enterprises than at the global institutions, according to an ACI Worldwide survey, Strategies to Prevent Attacks on Commercial Accounts.
About 200 banks in New York took part in a cybersecurity “exam” in which they were made to respond in real time to questions about their cybersecurity policies and procedures.
Late last year about 200 banks in New York took part in a cybersecurity “exam” in which they were made to respond in real time to questions about their cybersecurity policies and procedures. The test was designed to help the banks see how they compare with their peers in terms of being ready for attacks by cybergangs looking to break into their networks.