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CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

Authors: Carolyn Bigg, Amanda Ge and Venus Cheung On July 24, 2023, the People’s Bank of China (“ PBOC ”) released the Measures for the Management of Data Security in the Business Areas Falling into PBOC’s Jurisdiction (Draft for Comment) (“ Draft Measures” ) for public consultation, which closes on August 24, 2023.

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Disneyland Malware Team: It’s a Puny World After All

Krebs on Security

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 ? Most Web browser makers, however, have spent years adding security protections to block such nefarious activity.

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The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back

Krebs on Security

In reality, the fraudster initiates a transaction — such as the “forgot password” feature on the financial institution’s site — which is what generates the authentication passcode delivered to the member. Unfortunately, Otsuka said, the scammers are defeating this layered security control as well.

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Accelerate hybrid cloud transformation through IBM Cloud for Financial Service Validation Program

IBM Big Data Hub

This leaves many organizations hesitant to make the transition, fearing they will lose the control and security they have with their on-prem environments. A third-party investment review, where the ISV provides a bill of material showing what and how services are being used to meet compliance requirements, along with price points.

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MY TAKE: Why companies and consumers must collaborate to stop the plundering of IoT systems

The Last Watchdog

The challenge of the moment is that many companies already have their hands full trying to improve their security posture as they migrate their legacy, on premises, IT systems to the cloud. The operating systems of home IoT devices today typically get shipped with minimal logon security. This is a sign of IoT attacks to come.

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SHARED INTEL: Akamai reports web attack traffic spiked 62 percent in 2020 — all sectors hit hard

The Last Watchdog

Akamai, which happens to be the Hawaiian word for “smart,” recently released its annual State of the Internet security report. As a leading global content delivery network (CDN), Akamai has a birdseye view of what is coursing through cyber space moment-by-moment. Financial services is, and always will be, a top target for criminals.

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New York Department of Financial Services addresses cybersecurity risks from artificial intelligence

Data Protection Report

On October 16, 2024, the New York Department of Financial Services (“NYDFS” or “DFS”) issued guidance raising awareness about combatting cybersecurity risks arising from artificial intelligence (“AI”) used by DFS licensees, such as insurers and virtual currency businesses. Data Inventories and Data Minimization.