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Wipro Americas 2 CEO Suzanne Dann on How Generative AI Can Address Risk, Compliance Generative AI can improve operational efficiencies, enhance risk and compliance and elevate the client experience for financialservices firms, said Wipro's Suzanne Dann.
Payments Expert Troy Leach on Regulations, Cloud and AI in the Financial Sector In the latest weekly update, Troy Leach, chief strategy officer at Cloud Security Alliance, joins ISMG editors to discuss preparing for new regulations, new requirements for third-party cloud penetration testing, and the opportunities and risks of AI in the financial sector. (..)
Tighter Security Controls Help Stop Fraud, But Fake IDs and Web Scraping Are Rising Account takeover fraud in the financialservices industry is declining in contrast with other industries such as retail and hospitality.
An Estimated 600,000 Customers Affected by Breach Records of more than half a million customers of a lending service owned by India's largest private sector bank are apparently downloadable for free on a criminal data breach forum. HDFC Bank says it detected a data breach at one of its service providers that processes customer information.
The sample included 1,931 knowledge workers, or end users, from financialservices, healthcare, and manufacturing who are familiar with the analytics tools within their applications.
Toyota FinancialServices (TFS) disclosed a data breach, threat actors had access to sensitive personal and financial data. Toyota FinancialServices (TFS) is warning customers it has suffered a data breach that exposed sensitive personal and financial data.
Menlo Security's Mark Guntrip on How to Learn to 'Defend Differently' On one hand, rapid cloud migration has been a boon to financialservices organization. But it's also exposed some security weaknesses.
Toyota FinancialServices discloses unauthorized activity on systems after the Medusa ransomware gang claimed to have hacked the company. Toyota FinancialServices confirmed the discovery of unauthorized activity on systems in a limited number of its locations. The company has yet to disclose a data breach.
In today's fiercely competitive business landscape, financialservices companies, like their counterparts in other industries, rely on advertising and digital marketing strategies to create brand recognition, promote their products and services to potential customers, and engage with their existing client base.
Defending FinancialServices Against Fraud in a Shifting Cyber Landscape sparsh Tue, 11/14/2023 - 05:05 As we approach International Fraud Awareness Week during 12-18 November 2023, taking stock of the evolving threat landscape and the vulnerabilities that financialservices organizations face is crucial.
TA505 APT Group delivers phishing email containing malicious links Researchers at Morphisec Labs have published fresh details about a new MirrorBlast campaign that they say is run by a Russia-based threat group TA505, targeting financialservices organizations.
Analysis of 2023 attacks shows how the financialservices industry had a very bad year, with increases in both vendor email compromise (VEC) and business email compromise (BEC) attacks, targeting millions of dollars using very specific methods.
Also: Highlights from ISMG's FinancialServices Summit and Key Insights on AI Adoption On the 200th episode of the ISMG Editors' Panel, the team discussed the major China-linked cyberespionage campaign targeting U.S.
UK FinancialServices Firms Record $1.5 Billion in Losses Last Year Due to Fraud Losses to fraud reported by Britain's financialservices sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance.
Top Victims Include FinancialServices and Law Firms, Group-IB Warns A sophisticated, highly targeted phishing campaign has hit high-level executives at more than 150 businesses, stealing confidential documents and contact lists, says security firm Group-IB.
The NYDFS’ 23 NYCRR Part 500 has been updated to reflect the current preventative and responsive measures necessary for FinancialServices org to be ready for cyber attacks.
Cloud Adoption in FinancialServices has Soared - as Has Security Risk Financialservices organizations face unique cloud security challenges, due to special regulatory, data security and privacy considerations that don't necessarily apply to other industries.
The financialservices industry has been in the process of modernizing its data governance for more than a decade. How can banks, credit unions, and financial advisors keep up with demanding regulations while battling restricted budgets and higher employee turnover? Don’t wait.
Prove's Mary Ann Miller on Strategies for Stronger ID Verification The banking and financialservices industry will see a growth in scams and frauds perpetrated through fake businesses, incentivizing bad actors to continue creating these fraudulent entities, said Mary Ann Miller, a fraud and cybercrime executive advisor with Prove.
Agency Details AI Cybersecurity Risks, Prevention, Mitigation Strategies Financial regulators with the state of New York on Wednesday published guidance to help organizations identify and mitigate cybersecurity threats related to artificial intelligence.
For other financialservices firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well. Across the financial sector, there are transition risks to consider as we move to a low-carbon economy. Financialservices firms can use the tool for “what if?”
Million Customers Notified of Breach; BlackCat Ransomware Group Claimed Credit Financialservices giant Fidelity National Financial has confirmed that a November 2023 hack attack compromised personal information pertaining to 1.3 million customers of its LoanCare subsidiary.
TSYS provides payment processing services, merchant services and other payment solutions, including prepaid debit cards and payroll cards. In 2019, TSYS was acquired by financialservices firm Global Payments Inc. NYSE:GPN ].
It also examines the invasion's impact on financialservices and how to modernize security operations. This edition analyzes how hackers exploited a misconfigured VPN device, gained access to Viasat's satellite network and caused a massive outage in Europe as Russia's invasion of Ukraine began.
Google: Hackers Using COVID-19 Phishing Themes to Target Businesses "Hack-for-hire" groups operating in India are spoofing World Health Organization emails to steal credentials from financialservices and healthcare firms around the world, according to Google's Threat Analysis Group.
UK FinancialServices Firms Record $1.5 Billion in Losses Last Year Due to Fraud Losses to fraud reported by Britain's financialservices sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance.
The LockBit Ransomware Operation May Have Exploited Citrix Bleed A ransomware attack affecting the New York financialservices subsidiary of the Industrial and Commercial Bank of China resulted in disruptions to the U.S. Close observers of the criminal underground say ransomware-as-a-service group LockBit is responsible.
Scammers Used Malware and Spoofed Domain Name to Trick UK FinancialServices Firm A Nigerian national has pleaded guilty to participating in a business email compromise scheme that stole $1.25 million from a Boston investment firm.
Cloud Adoption in FinancialServices has Soared - as Has Security Risk Financialservices organizations face unique cloud security challenges, due to special regulatory, data security and privacy considerations that don't necessarily apply to other industries.
Genpact VP of Payments Kristine Demareski on Harnessing Generative AI There are many potential uses for generative AI at financialservices firms, but few are more promising than those in the areas of risk and fraud, said Kristine Demareski, vice president of payments at Genpact, which is already harnessing AI to increase efficiencies in analysts' (..)
The Role of Secrets Management in Securing FinancialServices madhav Tue, 11/05/2024 - 04:30 Secrets management is one of the top DevOps challenges. Let’s look at the role of secrets management for financialservices. Why is secrets management crucial for financialservices?
New York Warns of Theft of Consumers' Information Hackers are targeting vulnerabilities in websites offering instant quotes - especially those that provide auto insurance rates - to steal consumers' information, according to an alert from the New York State Department of FinancialServices.
Researcher Finds Unsecure Elasticsearch Database Cluster Accessible via the Internet A security researcher recently discovered an unsecure Elasticsearch database cluster exposed on the internet that contained transcripts of sensitive voicemail messages, including some for medical clinics and financialservice companies.
Financialservices commentator Chris Skinner explains why state governments and AML concerns are to blame. Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self.
OpenText is presenting the FinancialServices Summit 2024 , which taking place on Oct. This exclusive in-person event focuses on harnessing AI to enhance trust and regulatory compliance in the financialservices industry. For more information and registration, visit OpenText FinancialServices Summit.
Fast, easy, personalized, and engaging experiences are the name of the game in financialservices. Here are six ways financialservices organizations are tapping into the power of conversational experiences with mission-critical messaging: 1. How is your institution stacking up?
The latest edition of the ISMG Security Report discusses how financialservice organizations should respond to the new "fraud universe." It also shares how CISOs can incorporate social media into their threat intelligence programs and describes the skills required by today's security leaders.
Industry analysis of the domains used behind phishing and brand impersonation attacks show financial institutions are being leveraged at an alarming rate.
Jeetu Patel of Cisco Discusses the Critical Ability to 'Bounce Back' From Incidents With rising threats facing critical infrastructure sectors, such as healthcare and financialservices, "society as a whole, and the safety of society is completely dependent on cyber risk" - and being security resilient, says Jeetu Patel of Cisco.
Fresh Lawsuits Target Prudential, Plus Charles Schwab and Subsidiary TD Ameritrade Two financialservices giants hit by the mass attack on MOVEit file-sharing software - Prudential and Schwab - are the latest victims to face lawsuits from affected individuals.
Rob Dartnall of Security Alliance Shares Insights on Current and Emerging Trends Financialservices firms in Africa are becoming bigger cyber targets as they expand into new mobile payment and financial inclusion products.
CyberEdBoard Executive Member, Maria Filomena Gibe, guest speaks on panel at ISMG Virtual Cybersecurity Summit Asia: FinancialServices The panel discusses: • How ‘zero trust’ has made security as a business enabler • Building a multi-factor authentication model based on ‘zero trust’ • Building ‘zero trust’ framework aligned with people, process and (..)
On November 1, 2023, the New York Department of FinancialServices (“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.
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