From the billions pumped into unemployment and other economic relief programs during the pandemic to competitive marketing campaigns designed to increase customer acquisition, fraudsters have never had a better incentive to commit new account fraud. This session will highlight the problems financial institutions are...
VMware's Tom Kellermann is out with Modern Bank Heists 5.0, his latest look at the attackers and attacks targeting financial services. Subtitled "The Escalation," this report looks at the increase in destructive attacks, ransomware and hits on cryptocurrency exchanges. Kellermann shares insights.
In our latest report, we detail seven primary cyber threats that organizations across the financial services sector will face in 2022. Some of them, such as ransomware, are not new but nevertheless remain a serious threat. Others, such as decentralized finance (DeFi) and cryptocurrencies, are newer, so to speak, and...
In order to keep pace with the card fraud threat landscape, financial institution CISOs must continually refresh their awareness and understanding of card fraud tactics, techniques, and procedures (TTPs). Even for the novice cybercriminal, there are few barriers to entry and near-infinite resources in illicit forums...
Security leaders are leveraging blockchain's decentralized approach to establish user identity, as it is designed to ensure the correction of transaction through reliable sources that help to contain fraudulent transactions, says Edmund Situmorang, CTO at Prodigi, Sinar Mas Group.
When it comes to advanced threat response, 42% of financial institutions say their current abilities are average. Only 35% say automation currently plays a strong role. Josh Zelonis of Palo Alto Networks and Sid Srivastava of Accenture analyze the State of Security Automation in Financial Services.
Online attackers are increasingly targeting the financial services sector. John Fokker, head of cyber investigations at Trellix, says his firm has charted a 22% quarterly increase in ransomware attacks on financial services, and APT detections have risen by 37%. Here's how the industry must respond.
As Russia's ground invasion and air assault against Ukraine continues, so too do online attacks being launched against Ukrainian targets. A Ukrainian cybersecurity official says his country is fighting the first-ever "hybrid war" that bridges both the physical and online realms.
As Russia's invasion of Ukraine continues, what should global CISOs and security teams do to ensure that their organizations stay protected? Beyond following cybersecurity agencies' guidance, experts offer advice on how to brief the board of directors, appeal for resources, support teams and more.
The SEC voted 3-1 to advance new, mandatory cybersecurity rules for registered investment advisers, companies and funds. The proposal - open for a 30-day public comment period - would require entities to adopt and implement written cybersecurity policies and a 48-hour incident reporting mandate.
The European Systemic Risk Board has proposed a new systemic cyber incident coordination framework called EU-SCICF. This framework will be designed to counter any major cross-border cyber incidents in the financial sector space with a coordinated response.
Fraudsters are having a field day as the pandemic persists, with experts warning that scams targeting consumers and businesses remain at record-high levels. To combat such attacks, experts say financial services firms need to bolster their identity controls with tools to more accurately track and counter scams
U.S. Security and Exchange Commission Chair Gary Gensler wants to broaden cybersecurity regulations. Among his concerns are the rising threat of cyberattacks due to the tensions between Russia and Ukraine, and a need to harmonize communications between financial firms and third-party vendors.
FS-ISAC is piloting a new program called the Critical Providers Program that is aimed to heighten the conversation between leaders of security firms and their third-party partners. The program leverages the Connect platform, and Akamai Technologies plays a key role.
To fight threats, security practitioners need to develop a proactive, offensive risk quantification strategy to establish cyber resilience, says Shaik J. Ahmed, vice president of risk, governance and information security at Mashreq Bank.
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