Tackling 2022's Emerging Social Engineering & Fraud Scams Plaguing Financial Services
Data Breach Today
MAY 5, 2022
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Key trends for the Financial Services industry in 2022
OpenText Information Management
JANUARY 10, 2022
As we head into 2022, it’s clear that the Financial Services industry overall has responded well to the impact of COVID-19 — but it hasn’t emerged unscathed. In fact, McKinsey’s Global Banking Review states that half of banks are not covering their cost of equity.
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Data Protection in Financial Services Week 2022
Data Matters
FEBRUARY 25, 2022
Sidley and OneTrust DataGuidance are pleased to announce that registration is now open for their annual Data Protection in Financial Services (DPFS) Week. Join us from February 28 – March 3 for DPFS Week 2022 , a series of webinars looking at the impacts of data privacy across the financial sector.
Invoice and CEO Scams Dominate Fraud Impacting Businesses
Data Breach Today
MAY 29, 2023
UK Financial Services Firms Record $1.5 Billion in Losses Last Year Due to Fraud Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance.
Invoice and CEO Scams Dominate Fraud Affecting Businesses
Data Breach Today
MAY 30, 2023
UK Financial Services Firms Record $1.5 Billion in Losses Last Year Due to Fraud Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance.
Oracle Critical Patch Update for January 2022 will fix 483 new flaws
Security Affairs
JANUARY 17, 2022
The pre-release announcement for Critical Patch Update (CPU) for January 2022 states that Oracle will fix 483 new flaws. This pre-release announcement for Critical Patch Update (CPU) for January 2022 confirms that Oracle security updates will address 483 new security patches. Pierluigi Paganini. SecurityAffairs – hacking, CPU).
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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies
Data Protection Report
NOVEMBER 8, 2023
On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. These revisions represent the most significant modifications since the enactment of the rules in March 2017. f), is sufficient to trigger this new notice requirement.
Cuba Ransomware received over $60M in Ransom payments as of August 2022
Security Affairs
DECEMBER 2, 2022
Cuba ransomware gang received more than $60 million in ransom payments related to attacks against 100 entities worldwide as of August 2022. Dollars (USD) and received more than $60 million in ransom payments from over 100 victims worldwide as of August 2022, the US government states. Pierluigi Paganini.
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Best Fraud Management Systems & Detection Tools in 2022
eSecurity Planet
SEPTEMBER 16, 2022
PwC’s 2022 Global Economic Crime and Fraud Survey reported that 46% of surveyed organizations experienced corruption, fraud, or other economic crimes in the 24-month survey period. Best Fraud Management Systems & Detection Tools in 2022. Take a look at Top Secure Email Gateway Solutions for 2022. million in losses.
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DORA: 1 year to go! Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds
Thales Cloud Protection & Licensing
JANUARY 16, 2024
Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds madhav Wed, 01/17/2024 - 05:46 The Digital Operational Resilience Act (DORA) will apply to the EU financial sector from 17 January 2025. As set out in its Article 2, DORA applies to the entire financial services sector.
2024 Thales Global Data Threat Report: Trends in Financial Services
Thales Cloud Protection & Licensing
OCTOBER 14, 2024
2024 Thales Global Data Threat Report: Trends in Financial Services madhav Tue, 10/15/2024 - 05:17 Financial services (FinServ) firms are key players in the global economy. Nearly two-thirds (64%) of FinServ said it’s more complex to secure data in the cloud than on-prem, compared to 55% of general respondents.
Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor
Thales Cloud Protection & Licensing
AUGUST 31, 2022
Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor. Thu, 09/01/2022 - 05:15. It highlights the leadership of financial services in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor.
CGS-CIMB Case Study: Mobile Access for Financial Services
HID Global
APRIL 11, 2022
CGS-CIMB Case Study: Mobile Access for Financial Services. Mon, 04/11/2022 - 12:07.
The Most Popular Data Security Webinars of 2022: Sovereignty, Cloud Security and Compliance Top the List
Thales Cloud Protection & Licensing
JANUARY 11, 2023
The Most Popular Data Security Webinars of 2022: Sovereignty, Cloud Security and Compliance Top the List. Throughout 2022, Thales hosted more than 40 webinars on a wide variety of cybersecurity topics, including, cloud security, data sovereignty, compliance, data threat trends, and rethinking approaches to role-based authentication.
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Report: Big U.S. Banks Are Stiffing Account Takeover Victims
Krebs on Security
OCTOBER 7, 2022
who in April 2022 opened an investigation into fraud tied to Zelle , the “peer-to-peer” digital payment service used by many financial institutions that allows customers to quickly send cash to friends and family. million of payments in 2021 and the first half of 2022,” the report summarized.
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Disneyland Malware Team: It’s a Puny World After All
Krebs on Security
NOVEMBER 16, 2022
For example, one domain the gang has used since March 2022 is ushank[.]com financial services firm Ameriprise uses the domain ameriprise.com; the Disneyland Team’s domain for Ameriprise customers is [link] [brackets added to defang the domain], which displays in the browser URL bar as ? Bank customers.
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FBI’s Vetted Info Sharing Network ‘InfraGard’ Hacked
Krebs on Security
DECEMBER 13, 2022
Meanwhile, the hackers responsible are communicating directly with members through the InfraGard portal online — using a new account under the assumed identity of a financial industry CEO that was vetted by the FBI itself.
European Commission Publishes Report on Decentralized Finance
Hunton Privacy
NOVEMBER 1, 2022
On October 18, 2022, the European Commission published a report , titled Information Frictions and Public Policies: Approaching the Regulation and Supervision of Decentralized Finance (“DeFi”) (the “Report”).
Law enforcement operation seized Ragnar Locker group’s infrastructure
Security Affairs
OCTOBER 19, 2023
In March 2022, the US Federal Bureau of Investigation (FBI) and CISA published a flash alert to warn that the Ragnar Locker ransomware gang breached the networks of at least 52 organizations across 10 critical infrastructure sectors. “As
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Dubai Issues Its First Crypto Law Regulating Virtual Assets
Hunton Privacy
APRIL 7, 2022
On February 28, 2022, the Emirate of Dubai enacted Law No. 4 of 2022 on the Regulation of Virtual Assets (“ VAL ”) and established the Dubai Virtual Assets Regulatory Authority (“ VARA ”). VAL became effective on March 11, 2022, upon its publication in Dubai’s Official Legal Gazette.
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Toyota disclosed a data breach after ZeroSevenGroup leaked stolen data on a cybercrime forum
Security Affairs
AUGUST 20, 2024
.” BleepingComputer researchers noticed that the stolen archive was created on December 25, 2022, which suggests that the attackers may have compromised a backup server where the data was stored. Toyota Financial Services (TFS) is the finance arm of the Toyota Motor Corporation.
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NYDFS Amends Cybersecurity Rules for Financial Services Companies
Hunton Privacy
NOVEMBER 23, 2022
On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. The proposed amendments revise several aspects of the draft Cybersecurity Rule amendments released on July 29, 2022.
Scary Fraud Ensues When ID Theft & Usury Collide
Krebs on Security
JANUARY 25, 2022
14, 2022 breach notification letter from tribal lender Mountain Summit Financial. ” According to the Native American Financial Services Association (NAFSA), a trade group in Washington, D.C. According to Buckley LLP , a financial services law firm based in Washington, D.C., A portion of the Jan.
Akamai prevented the largest DDoS attack on a US financial company
Security Affairs
SEPTEMBER 10, 2023
. “Historically, approximately 10% to 15% of the DDoS attacks observed by Akamai have been aimed at customers in the financial services industry.” In fact, over the past four quarters, more than 30% of the DDoS attacks have been aimed at financial services companies.” ” concludes Akamai.
GUEST ESSAY: ‘Continuous authentication’ is driving passwordless sessions into the mainstream
The Last Watchdog
DECEMBER 6, 2022
It’s no surprise that passwordless authentication is at the core of Gartner’s report on emerging technologies and trends for 2022. In fact, demand for passwordless systems is expected to grow 15 percent per annum – topping $5.5 billion by 2032. Invisible security.
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Russia-linked GRU Unit 29155 targeted critical infrastructure globally
Security Affairs
SEPTEMBER 6, 2024
Starting January 13, 2022, the group employed the WhisperGate wiper in attacks against Ukrainian organizations. Since 2022, the unit focused on disrupting aid efforts for Ukraine. These operations include espionage, sabotage, and reputational damage.
Operation Cronos: law enforcement disrupted the LockBit operation
Security Affairs
FEBRUARY 19, 2024
In 2022, LockBit was one of the most active ransomware groups, and its prevalence continued into 2023. Lockbit ransomware group administrative staff has confirmed with us their websites have been seized.
Go-based Chaos malware is rapidly growing targeting Windows, Linux and more
Security Affairs
SEPTEMBER 29, 2022
The experts were able to enumerate the C2s and targets of multiple distinct Chaos clusters, some of which were employed in recent DDoS attacks against the gaming, financial services and technology, and media and entertainment industries. .” reads the analysis published by Lumen Technologies. ” continues the report. .
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U.S. and Foreign Cybersecurity and Intelligence Agencies Recommend Measures to Counteract Threat of Russian Cyberattacks
Data Matters
JANUARY 28, 2022
Other government agencies, like the New York Department of Financial Services and the Federal Trade Commission, are also increasingly focused on the need for broad implementation of MFA. Like an incident response plan, MFA has become a critical element of cybersecurity programs.
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Ragnar Locker gang leaks data stolen from the Israel’s Mayanei Hayeshua hospital
Security Affairs
SEPTEMBER 9, 2023
In March 2022, the US Federal Bureau of Investigation (FBI) and CISA published a flash alert to warn that the Ragnar Locker ransomware gang breached the networks of at least 52 organizations across 10 critical infrastructure sectors. The ransomware gang claims that the hospital doesn’t care about the privacy of its patients.
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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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How Can We Secure The Future of Digital Payments?
Thales Cloud Protection & Licensing
JANUARY 10, 2022
Tue, 01/11/2022 - 06:35. The financial services ecosystem has evolved tremendously over the past few years driven by a surge in the adoption of digital payments. How Can We Secure The Future of Digital Payments? Pandemic has changed us all. It is important to understand the impact the pandemic had on consumer habits.
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Russia-Ukraine cyber conflict poses critical infrastructure at risk
Security Affairs
MARCH 14, 2022
Ongoing attacks could cause severe damages to multiple sectors, including transportation, communication, financial services, government facilities, nuclear reactors, and critical manufacturing. Check Host: [link] pic.twitter.com/J9OSdBLnzf — Anonymous (@LiteMods) February 25, 2022. ” reported researchers from Cyble.
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Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs
Hunton Privacy
AUGUST 15, 2022
On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).
8 Interesting Predictions for the Intelligent Information Capture Market in 2022
Info Source
MARCH 16, 2022
At the beginning of the year, I wrote out a list of predictions for 2022 and shared them on LinkedIn (and in Document Imaging Report ). The Infosource analyst team expects the demand for these devices to remain at a high level in 2022. In 2022, we expect subscription sales to surpass perpetual license sales for the first time.
FBI obtained 7,000 LockBit decryption keys, victims should contact the feds to get support
Security Affairs
JUNE 6, 2024
According to the UK agency, data retrieved from the systems belonging to the ransomware gang revealed that from June 2022 to February 2024, the criminals gave orchestrated over 7,000 attacks. In 2022, LockBit was one of the most active ransomware groups, and its prevalence continued into 2023. continues the NCA.
If data is the new oil, ISO 20022 is the new gasoline
IBM Big Data Hub
FEBRUARY 4, 2022
ISO 20022 was first introduced in 2004 to provide more standardization and deliver richer information for Financial Services transactions. Leveraging rich data to provide value-added services, such as real-time fraud detection, automated reconciliation, etc. Background on ISO 20022. In the U.S.,
An Interview With the Target & Home Depot Hacker
Krebs on Security
NOVEMBER 14, 2024
Hydra trafficked in illegal drugs and financial services, including cryptocurrency tumbling for money laundering, exchange services between cryptocurrency and Russian rubles, and the sale of falsified documents and hacking services.
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U.S., U.K. Sanction 7 Men Tied to Trickbot Hacking Group
Krebs on Security
FEBRUARY 9, 2023
” “CrowdStrike Intelligence has observed WIZARD SPIDER targeting multiple countries and industries such as academia, energy, financial services, government, and more,” said Adam Meyers , head of intelligence at CrowdStrike. This is not the U.S. government’s first swipe at the Trickbot group.
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State of the Global Information Capture & IDP Market 2022/2023
Info Source
SEPTEMBER 15, 2023
The growth rates for Capture & IDP software and solutions returned to a double-digit growth, close to pre-pandemic growth rates in 2022. The demand for Capture & IDP solutions in 2022 slowed slightly in North America following a particularly strong year. Sales in Asia recovered after two difficult years caused by the pandemic.
ICYMI – Late December in privacy and cybersecurity
Data Protection Report
JANUARY 30, 2023
2022-Ohio-4649 (Ohio Dec. 27, 2022). 21, 2022) (2022 WL 17826875. 22, 2022), 6. b. 1798.135(a).) 3. c. EMOI Servs., Owners Ins. 4. c. Brickman v. United States , — F.4th 4th —- (9 th Cir. 5. c. Williams v. What If Holdings, LLC , No. C-22-03780 WHA (N.D.
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Cybersecurity agencies published a joint LockBit ransomware advisory
Security Affairs
JUNE 15, 2023
Help us #StopRansomware by visiting [link] pic.twitter.com/G5jpxtB0Fw — Cybersecurity and Infrastructure Security Agency (@CISAgov) June 14, 2023 The LockBit ransomware operation was the most active in 2022 and according to the researchers it is one of the most prolific RaaS in 2023. law enforcement).
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Ireland: DPC Produces “Significant Outputs” for 2022 Concluding 17 Large Scale Inquiries
DLA Piper Privacy Matters
MARCH 30, 2023
In total 10,008 cases were concluded by the DPC in 2022 (a slight reduction on last years’ figures). As of 31 December 2022, the DPC had 88 statutory inquiries on-hand, including 22 cross-border inquiries. Complaints Handling The Annual Report notes another year of extensive enforcement work by the DPC.
NY DFS Proposes New Class of Entities and More Detailed Regulations in Second Amendment to Cybersecurity Regulations
Data Matters
DECEMBER 6, 2022
On November 9, 2022, the New York Department of Financial Services (DFS) published its proposed second amendment to its cybersecurity regulations (23 NY CRR Part 500). This proposal follows a July 29 pre-proposal and comment period.
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