The fallout from the Schrems II judgment continued with an announcement from Switzerland’s Federal Data Protection and Information Commissioner (FDPIC) that the Swiss-US Privacy Shield regime “does not provide an adequate level of protection for data transfer from Switzerland to the US pursuant to [Switzerland’s] Federal Act on Data Protection (FADP).”

To meet modern day challenges and address the evolving retail bank landscape, Origin Bank embraces innovative technology and solutions that boost efficiencies, reduce fraud and enhance service. The organization considers the protection of its clients’ assets to be paramount and strives to deliver a safe banking experience.

Compliance regulators don’t take days off – not even in a pandemic. Faced with steep penalties for non-compliance and potential reputational damage, organizations are being forced to rethink their compliance strategies to account for new and emerging risks. For digital businesses today, the best place to start is by assessing how systems should be good enough, understand how data integrity is currently being managed, identifying any compliance hazards or gaps, and considering how automation can help address them.

On August’s Patch Tuesday, Microsoft closed several vulnerabilities, among them CVE-2020-1472, known as Zerologon. Secura's security expert Tom Tervoort discovered the vulnerabilty and recently explained in a blog why the vulnerability is so dangerous. 

Siemens USA announced the launch of its technologically advanced cyber test range housed at its U.S. R&D headquarters in Princeton, New Jersey. The COVID-19 pandemic and the related increase in cyberattacks has highlighted the need for facilities such as this to focus on prevention, detection, and response solutions.

U.S. federal agencies revealed criminal charges against five computer hackers, all of whom were residents and nationals of the People’s Republic of China (PRC). All were charged of computer intrusions affecting over 100 victim companies in the United States and abroad, including software development companies, computer hardware manufacturers, telecommunications providers, social media companies, video game companies, non-profit organizations, universities, think tanks, and foreign governments, as well as pro-democracy politicians and activists in Hong Kong.

The Department of Justice’s Office of Community Oriented Policing Services (COPS Office) announced nearly $50 million in school safety funding through its School Violence Prevention Program (SVPP). SVPP provides up to 75% funding for school safety measures in and around primary and secondary schools and school grounds.

Synopsys, Inc. published BSIMM11, the latest version of the Building Security In Maturity Model (BSIMM), created to help organizations plan, execute, measure, and improve their software security initiatives (SSIs). BSIMM11 reflects the software security practices observed across 130 firms from multiple industry verticals including financial services, FinTech, independent software vendors, cloud, health care, Internet of Things, insurance, and retail.

The need for cybersecurity in the financial services industry has never been greater. Financial Institutions (FIs) have been and will continue to be the subject of cyberattacks by adversaries of all varieties. The old adage “why do you rob banks....because that’s where the money is” holds in this domain as well. In 2019, 86 percent of breaches were financially motivated, and the records exposed in all breaches increased by 284 percent. And if that’s not enough for FIs to worry about, consider that the average cost of a breach as disclosed by public firms in 2019 was $116 million. Given the magnitude of this issue, these are the top trends seen in cybersecurity this year.