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Account Takeover Fraud Declines in Financial Services

Data Breach Today

Tighter Security Controls Help Stop Fraud, But Fake IDs and Web Scraping Are Rising Account takeover fraud in the financial services industry is declining in contrast with other industries such as retail and hospitality.

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Key trends for the Financial Services industry in 2022

OpenText Information Management

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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3 Key Risks with Employee Passwords in the Financial Services Industry

Data Breach Today

How can financial services institutions better protect employee passwords? One of the most common threat vectors plaguing financial services institutions is the employee password.

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Treasury Seeks Industry, Academic Insight on AI Use, Risks

Data Breach Today

Department Is Asking for Information About How AI Is Used in Financial Products The financial services industry is no stranger to artificial intelligence - leading the sector's U.S.

Risk 173
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The Rising Threat of Fake Business Accounts

Data Breach Today

Prove's Mary Ann Miller on Strategies for Stronger ID Verification The banking and financial services 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.

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Banking Tech Forecast: Cloudy, With a Chance of Cyber Risk

Data Breach Today

Cloud Adoption in Financial Services has Soared - as Has Security Risk Financial services organizations face unique cloud security challenges, due to special regulatory, data security and privacy considerations that don't necessarily apply to other industries.

Risk 270
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US Treasuries Trading Affected by Ransomware Hack

Data Breach Today

The LockBit Ransomware Operation May Have Exploited Citrix Bleed A ransomware attack affecting the New York financial services 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.