Insider fraud is one of the biggest challenges facing Indian security practitioners, yet they struggle to respond to insider crimes, says Berjes Shroff, CISO of Godrej Infotech, and a speaker at the ISMG Data Breach & Fraud Prevention Summit Asia in Mumbai.
This ISMG Security Report features a discussion of the impact on the global financial services industry of the SWIFT-related theft of $81 million from Bangladesh's central bank and similar thefts. You'll also hear reports on making IT systems more trustable and national governments' spending on cybersecurity.
ISMG's upcoming Data Breach & Fraud Prevention Summit Asia 2016 in Mumbai will focus on the latest fraud techniques and technologies, as industry thought leaders take us through new approaches to tackle breaches as well as today's top schemes and solutions to stop them.
TeamViewer is strengthening the security of its remote access application after an uptick in account takeovers that the company says is the result of hackers reusing account credentials from recent data breaches.
Will a federal appellate court ruling in favor of a Minnesota bank that sued its insurer for coverage of costs associated with a fraudulent wire transfer have a big impact on similar cases? Experts offer an analysis.
The Reserve Bank of India has issued new cybersecurity guidelines to scheduled banks, directing them to devise cybersecurity policies distinct from their institutions' existing IT or IS security policies.
Asking how many different technologies consumers will tolerate when it comes to paying for their goods and services is a bit like asking how many more superheroes moviegoers will countenance in the latest "Avengers" film.
Is SWIFT now playing good cop/bad cop? While it initially promised to not police the financial services industry, it's now considering training auditors and suspending banks found to have poor information security practices.
Russian police have arrested 50 people in connection with an investigation into a hacker group suspected of unleashing a five-year series of malware-enabled hack attacks on major Russian financial institutions and stealing $25 million.
Since the theft of $81 million from the central bank of Bangladesh came to light in February, investigators have continued to probe similar SWIFT-related attacks against four other financial services firms, dating back to at least 2013.
MySpace has confirmed it is resetting millions of accounts affected by the release of 360 million usernames, email addresses and passwords. According to one expert, more of these types of big breach announcements may be coming.
IBM's Vaidyanathan Iyer says security practitioners need new tactics to bridge the skills gap and fight emerging threats. He suggests the use of analytics and machine learning would easily help fill the gap in detecting threats.
Before moving to faster payments, U.S. banks should scrutinize the security gaps exploited in the SWIFT-related bank heists and build effective risk-mitigation strategies that include stronger layers of authentication, financial fraud experts say.
A Bangladesh probe says that an insider may have assisted attackers in perpetrating the $81 million cyber heist against Bangladesh Bank. SWIFT has unveiled new security measures to help other banks, but security experts say more will be needed.