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.
2019 Financial Services IT 
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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Trending Sources
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.
Payment Processing Giant TSYS: Ransomware Incident “Immaterial” to Company
Krebs on Security
DECEMBER 10, 2020
Total System Services Inc. 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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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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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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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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74 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. Unlawful Discrimination.
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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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116 NY Investigates Exposure of 885 Million Mortgage Documents
Krebs on Security
MAY 31, 2019
That measure, which went into effect in March 2019 and is considered among the toughest in the nation, requires financial companies to regularly audit and report on how they protect sensitive data, and provides for fines in cases where violations were reckless or willful. ”
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. First American Financial Corp.
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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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New Anti Anti-Money Laundering Services for Crooks
Krebs on Security
AUGUST 13, 2021
. “This service is dedicated to individuals that have the need to possess complete privacy on the blockchain, offering a perspective from the opponent’s point of view in order for the user to comprehend the possibility of his/her funds getting flagged down under autocratic illegal charges.” AMLBot’s user interface.
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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.
California IT service provider Synoptek pays ransom after Sodinokibi attack
Security Affairs
JANUARY 5, 2020
Synoptek, A California-based IT service provider decided to pay the ransom to decrypt its files after being infected with the Sodinokibi ransomware. Synoptek, a California-based provider of IT management and cloud hosting services paid the ransom to decrypt its files following a Sodinokibi ransomware attack. Pierluigi Paganini.
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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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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. Additional guidance.
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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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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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. Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation.
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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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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.” ” continues the report.
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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.
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.
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 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. Read the full NYDFS settlement.
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.
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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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.
FBI obtained 7,000 LockBit decryption keys, victims should contact the feds to get support
Security Affairs
JUNE 6, 2024
LockBit is a prominent ransomware operation that first emerged in September 2019. The FBI is informing victims of LockBit ransomware it has obtained over 7,000 LockBit decryption keys that could allow some of them to decrypt their data. The NCA reached out to victims based in the UK providing support to help them recover encrypted data.
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).
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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).
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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., On August 30, 2021, the U.S. These failures led to email account takeovers that exposed personal information of thousands of customers at each firm. 34-92807 , August 30, 2021.
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Credit Union Sues Fintech Giant Fiserv Over Security Claims
Krebs on Security
MAY 3, 2019
A Pennsylvania credit union is suing financial industry technology giant Fiserv , alleging that “baffling” security vulnerabilities in the company’s software are “wreaking havoc” on its customers. based Fiserv [ NASDAQ:FISV ] is a Fortune 500 company with 24,000 employees and $5.8 billion in earnings last year.
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RSAC insights: Introducing ‘CWPP’ and ‘CSPM,’ new frameworks to secure cloud infrastructure
The Last Watchdog
MAY 17, 2021
In pulling off that milestone hack, Paige Thompson took advantage of CapOne’s lack of focus on cloud security as the banking giant rushed headlong into leveraging Amazon Web Services. Luckily, Thompson left an easy trail for the FBI to follow and affect her arrest in August 2019. Protecting workloads.
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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 announces sanctions against entities over email account hacking
Security Affairs
SEPTEMBER 1, 2021
The sanctioned entities are Cetera (Advisor Networks, Investment Services, Financial Specialists, Advisors, and Investment Advisers), Cambridge Investment Research (Investment Research and Investment Research Advisors), and KMS Financial Services. ” Follow me on Twitter: @securityaffairs and Facebook.
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.
NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’
The Last Watchdog
JANUARY 30, 2019
Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.
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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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