A time of reflection: Five tips for Financial Services in 2019
OpenText Information Management
JANUARY 10, 2019
The New Year is upon us, and with it come new challenges and opportunities for the Financial Services industry.
New York Department of Financial Services Reaches $1 Million Dollar Settlement With First American Title Insurance in Data Breach Investigation
Hunton Privacy
DECEMBER 4, 2023
On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.
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Industry Guide to Financial Services: What’s driving digital transformation across financial services institutions?
OpenText Information Management
MAY 1, 2019
To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry. appeared first on OpenText Blogs.
New: 2019 State of the Internet / Security: Financial Services Attack Economy
Dark Reading
NOVEMBER 25, 2019
Every organization should be paying attention to the attacks targeting financial services systems.
Financial Services Organizations Need to Adapt their Security Practices to the Shifting Environment
Thales Cloud Protection & Licensing
NOVEMBER 4, 2020
Financial Services Organizations Need to Adapt their Security Practices to the Shifting Environment. Even “traditional banks” seek to drive more revenue from digital products, personalized services and experiences. At the same time, financial services organizations need to adapt to a shifting global environment.
Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation
Data Matters
AUGUST 19, 2020
On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.
New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance
Data Matters
FEBRUARY 10, 2021
On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Thereafter, in 2019, the department created a Cybersecurity Division to focus specifically on protecting industries and consumers from cyberthreats. regulator concerning the increasingly critical issue of cyberinsurance.
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Payment Processing Giant TSYS: Ransomware Incident “Immaterial” to Company
Krebs on Security
DECEMBER 10, 2020
(TSYS) is the third-largest third-party payment processor for financial institutions in North America, and a major processor in Europe. TSYS provides payment processing services, merchant services and other payment solutions, including prepaid debit cards and payroll cards. NYSE:GPN ].
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SAP April 2019 Security Patch Day addresses High severity flaws in Crystal Reports, NetWeaver
Security Affairs
APRIL 10, 2019
SAP released the April 2019 Security Patch Day that is included 6 Security Notes, two of which address High severity flaws in Crystal Reports and NetWeaver. SAP released 6 Security Notes as part of the April 2019 Security Patch Day, two of which address High severity flaws in Crystal Reports and NetWeaver.
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Recently disclosed Drupal CVE-2019-6340 RCE flaw exploited in the wild
Security Affairs
FEBRUARY 26, 2019
Threat actors in the wild are exploiting the recently patched CVE-2019-6340 flaw in the Drupal CMS to deliver cryptocurrency miners and other payloads. Just three days after the CVE-2019-6340 flaw in Drupal was addressed, threat actors in the wild started exploiting the issue to deliver cryptocurrency miners and other payloads.
SAP Security Patch Day for May 2019 fixes many missing authorization checks
Security Affairs
MAY 15, 2019
SAP released SAP Security Patch Day for May 2019 that includes 8 Security Notes, 5 of which are updates to previously released Notes. ” reads the security advisory for the CVE-2019-0301. .” ” reads the security advisory for the CVE-2019-0301. SecurityAffairs – SAP Security Patch Day for May 2019 ).
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NY Charges First American Financial for Massive Data Leak
Krebs on Security
JULY 23, 2020
In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. billion in 2019.
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299 New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting
Data Matters
FEBRUARY 20, 2019
On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance.
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66 Privacy and Cybersecurity March 2019 Events
HL Chronicle of Data Protection
FEBRUARY 28, 2019
Please join us for our March 2019 events. Mark Brennan will discuss TCPA issues on the panel, “Financial Services and Litigation Trends,” at the American Financial Services Association (AFSA) Law and Compliance Symposium 2019. ” at the IAPP Data Protection Intensive: UK 2019.
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40 NY Investigates Exposure of 885 Million Mortgage Documents
Krebs on Security
MAY 31, 2019
New York regulators are investigating a weakness that exposed 885 million mortgage records at First American Financial Corp. On May 29, The New York Times reported that the inquiry by New York’s Department of Financial Services is likely to be followed by other investigations from regulators and law enforcement.
The New Version of JsOutProx is Attacking Financial Institutions in APAC and MENA via Gitlab Abuse
Security Affairs
APRIL 3, 2024
Resecurity researchers warn that a new Version of JsOutProx is targeting financial institutions in APAC and MENA via Gitlab abuse. Resecurity has detected a new version of JSOutProx , which is targeting financial services and organizations in the APAC and MENA regions.
Law enforcement operation seized Ragnar Locker group’s infrastructure
Security Affairs
OCTOBER 19, 2023
The ransomware operation has been active since late December 2019, the FBI published two flash alert to warn of the operation of the group. This is an important achievement in the fight against cybercrime. Both FBI and Europol declined to comment on the events. More details are expected to be released tomorrow.
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Transition period under New York Cybersecurity Regulation ends March 1, 2019
Data Protection Report
JANUARY 7, 2019
The two-year transitional period under the New York State Department of Financial Services (“DFS””) Cybersecurity Regulation , 23 NYCRR 500 (the “Regulation”), will expire on March 1, 2019, with the final remaining requirement becoming effective.
First American Financial Pays Farcical $500K Fine
Krebs on Security
JUNE 18, 2021
In May 2019, KrebsOnSecurity broke the news that the website of mortgage settlement giant First American Financial Corp. NYSE:FAF ] was leaking more than 800 million documents — many containing sensitive financial data — related to real estate transactions dating back 16 years. This week, the U.S.
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Regulatory Update: NAIC Summer 2019 National Meeting
Data Matters
SEPTEMBER 4, 2019
The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The amended regulation took effect on August 1, 2019, for annuity products and will become effective on February 1, 2020, for life insurance products.
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$8 million penalty to NYDFS – and another case of over-retention
Data Protection Report
JANUARY 18, 2024
On January 3, 2024, the New York Department of Financial Services announced a consent order with GGT, where GGT agreed to pay NYDFS $8 million and to surrender its BitLicense (for cryptocurrency trading), due to alleged violations of NYDFS’ cybersecurity and its virtual currency regulations.
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Operation Cronos: law enforcement disrupted the LockBit operation
Security Affairs
FEBRUARY 19, 2024
pic.twitter.com/SvpbeslrCd — vx-underground (@vxunderground) February 19, 2024 LockBit is a prominent ransomware operation that first emerged in September 2019. Lockbit ransomware group administrative staff has confirmed with us their websites have been seized.
Automation Anywhere Named a Leader in the 2019 Gartner Magic Quadrant for RPA Software
Info Source
JULY 11, 2019
July 11, 2019 – Automation Anywhere , a global leader in Robotic Process Automation Software, today announced that Gartner, Inc. has named it a Leader in Gartner’s 2019 Magic Quadrant for RPA Software. [1]. 8 July 2019. Inaugural Magic Quadrant for RPA Software Recognizes Automation Anywhere. SAN JOSE, Calif.
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PSD2 Regulation and Compliance
Thales Cloud Protection & Licensing
SEPTEMBER 4, 2024
Initially, PSD2 was set to take full effect on September 14, 2019. PSD2 has had a profound impact on the financial ecosystem, reshaping the infrastructure for banks, fintechs, and businesses that rely on payment data to serve consumers better. Let's explore the details further.
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New York State Expected to Increase Enforcement of Cybersecurity Practices
HL Chronicle of Data Protection
FEBRUARY 25, 2020
Companies should take note of two imminent developments in New York in the area of cybersecurity regulation: enforcement of the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (Regulation) and the effective date of the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act or Act).
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New Anti Anti-Money Laundering Services for Crooks
Krebs on Security
AUGUST 13, 2021
. “To date, this type of analysis has been used primarily by regulated financial service providers.” ET: Corrected the story to note that AMLBot has been around since 2019. ” That may not be entirely true. AMLBot’s user interface. “My guess is they’re just white-labeling that.”
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NYDFS settles cybersecurity regulation matter for $1.8 million
Data Protection Report
JUNE 2, 2021
On May 13, 2021, the New York Department of Financial Services (NYDFS) announced a $1.8 million settlement with two related insurance companies, relating to violations of two different requirements of the NYDFS cybersecurity regulation during the period 2018 to 2019. Affiliate #1 notified NYDFS on November 25, 2019.
American Insurance firm State Farm victim of credential stuffing attacks
Security Affairs
AUGUST 7, 2019
The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July. billion per month.
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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches
Hunton Privacy
JULY 1, 2022
On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp.
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NYDFS settles cybersecurity regulation matter for $3 million
Data Protection Report
APRIL 22, 2021
On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. According to the consent order, the matter began when NSC reported a cybersecurity event to NYDFS on October 23, 2019. The second incident occurred in March of 2019.
Improve your data relationships with third parties
Collibra
FEBRUARY 11, 2020
Regulators are focusing on the data relationships financial services organizations have with third parties, including how well personal information is being managed. There are several areas that the international financial services regulatory community is engaged in that touch on third party personal data relationships.
Iran-linked APT group Pioneer Kitten sells access to hacked networks
Security Affairs
SEPTEMBER 1, 2020
“The adversary is particularly interested in exploits related to VPNs and network appliances , including CVE-2019-11510, CVE-2019-19781, and most recently CVE-2020-5902; reliance on exploits such as these lends to an opportunistic operational model.” ” reads the report published by Crowdstrike.
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NYDFS Settles with Mortgage Company for Data Breach
Hunton Privacy
MARCH 11, 2021
On March 3, 2020, the New York Department of Financial Services (“NYDFS”) announced it had entered into a settlement with Residential Mortgage Services, Inc. (“RMS”) RMS”) related to allegations that RMS violated the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.
Cryptoassets and Smart Contracts – UK Offers Legal Clarity
Data Matters
DECEMBER 4, 2019
On November 18, 2019, the UK Jurisdiction Taskforce, which is part of The English Law Society’s LawTech Delivery Panel , published its Legal Statement on the status of cryptoassets and smart contracts (the Legal Statement). 9 “ESMA Advice: Initial Coin Offerings and Crypto-Assets,” January 9, 2019. See [link]. Available at [link].
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Cryptoassets and Smart Contracts – UK Offers Legal Clarity
Data Matters
DECEMBER 4, 2019
On November 18, 2019, the UK Jurisdiction Taskforce, which is part of The English Law Society’s LawTech Delivery Panel , published its Legal Statement on the status of cryptoassets and smart contracts (the Legal Statement). 9 “ESMA Advice: Initial Coin Offerings and Crypto-Assets,” January 9, 2019. See [link]. Available at [link].
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EventBot, a new Android mobile targets financial institutions across Europe
Security Affairs
APRIL 30, 2020
Security experts from Cybereason Nocturnus team discovered a new piece of Android malware dubbed EventBot that targets banks, financial services across Europe. Researchers from Cybereason Nocturnus team discovered a new piece of Android malware dubbed EventBot that targets banks, financial services across Europe.
NYDFS Cybersecurity Regulations: A glimpse into the future
Thales Cloud Protection & Licensing
NOVEMBER 27, 2018
The cybersecurity regulation ( 23 NYCRR 500 ) adopted by the New York State Department of Financial Services (NYDFS) is nearly two years old. The 2017 bill, the first of its kind, will be fully implemented as of March 1st, 2019. Even though these regulations only apply to New York, financial institutions across the U.S.
SEC Charges Investment Advisers and Broker-Dealers with Deficient Cybersecurity Procedures
Hunton Privacy
SEPTEMBER 1, 2021
34-92806 ; and In the Matter of KMS Financial Services, Inc. , Release No. According to the SEC order against KMS Financial Services Inc., The cases are In the Matter of Cetera Advisor Networks LLC , Release No. 34-92800 ; In the Matter of Cambridge Investment Research, Inc. , Release No. 34-92807 , August 30, 2021.
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Tuesday’s Relativity Fest 2019 Sessions: eDiscovery Trends
eDiscovery Daily
OCTOBER 21, 2019
As we noted yesterday , the 2019 Relativity Fest conference is going on this week, CloudNine is once again here as a Sponsor and Exhibitor and I will be covering the show for eDiscovery Daily. The 2019 International Panel. Let’s check out some of the sessions lined up for today (including the one I’m speaking at!).
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Oracle critical patch advisory addresses 284 flaws, 33 critical
Security Affairs
JANUARY 18, 2019
Oracle released the first critical patch advisory for 2019 that addresses a total of 284 vulnerabilities, 33 of them are rated “critical”. The bug affected the OCA’s Diameter Signalling Router component and its Communications Services Gatekeeper. ” reads the d escription provided by.
Ragnar Locker ransomware group breached at least 52 organizations across 10 critical infrastructure sectors
Security Affairs
MARCH 8, 2022
The ransomware operation has been active since late December 2019, this is the second time that the FBI first shares IoC related to RagnarLocker operation, the FBI first became aware of this threat in April 2020.
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Risk Management under the DORA Regulation
IT Governance
NOVEMBER 23, 2023
Although the total number of data breaches – or rather, in those reported – decreased by 24% between 2019 and 2022 in the finance sector, the number of incidents increased by 99%. So to account for seasonality, we’ve only looked at Q2–Q4 for all four years (2019–2022). million (about £4.70
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Credit Union Sues Fintech Giant Fiserv Over Security Claims
Krebs on Security
MAY 3, 2019
In late April 2019, Fiserv was sued by Bessemer System Federal Credit Union , a comparatively tiny financial institution with just $38 million in assets. In January 2019, Fiserv announced it was acquiring payment processing giant First Data in a $22 billion all-stock deal. And it’s poised to soon get much bigger.
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Corporate Finance firms leak 500K+ legal and financial documents online
Security Affairs
MARCH 17, 2020
Advantage and Argus seem to be the same company working under two different names, they offer funding and startup capital to business owners without access to traditional lending and financial services. The researchers discovered the unsecured database in December 2019.
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