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.

Financial Services 103

Financial Services Privacy Data Privacy Cybersecurity 103

Rocket Software

MARCH 14, 2022

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

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.

Insurance 110

Insurance Data breaches Financial Services Passwords 110

OpenText Information Management

JANUARY 12, 2021

Fax is so secure that faxed documents and signatures are recognized in the courts as being legally binding. It stands to reason, then, that fax would be the bedrock of financial communications, but are there ways to make it even better? The paper problem Financial services workflows have always been heavily paper-based.

Financial Services 90

Financial Services Cloud Customer Experience Paper 90

OpenText Information Management

AUGUST 26, 2024

Fast, easy, personalized, and engaging experiences are the name of the game in financial services. 3 A messaging platform can help mid-size banks and insurance companies meet these communications challenges, offering a quick ROI and the flexibility to grow into new use cases. How is your institution stacking up?

Financial Services 69

Financial Services Marketing Insurance Communications 69

Hunton Privacy

FEBRUARY 22, 2021

The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers. The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers.

Financial Services 86

Financial Services Insurance Cybersecurity Analytics 86

Krebs on Security

NOVEMBER 19, 2021

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.

IT 363

IT Passwords Authentication Phishing 363

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.

Financial Services 83

Financial Services Cloud Cybersecurity Encryption 83

IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 96

Insurance Digital transformation Customer Experience Cloud 96

KnowBe4

OCTOBER 5, 2023

Menlo Security warns that a social engineering campaign is using the EvilProxy phishing kit to target senior executives across a range of industries, including banking and financial services, insurance, property management and real estate, and manufacturing.

Phishing 119

Phishing Financial Services Insurance Manufacturing 119

Data Protection Report

DECEMBER 5, 2024

Threat actors targeted online auto insurance quoting applications, obtaining Nonpublic Information (“NPI”) such as driver’s license numbers and dates of birth, which were then used to file fraudulent unemployment claims during the COVID-19 pandemic. In total, the two insurers agreed to pay $11.3 million for the first insurer, and $1.55

Insurance 75

Insurance Cybersecurity Risk Encryption 75

Security Affairs

NOVEMBER 20, 2021

Major cybersecurity incidents are attacks that impact operations of the victims or the stability of the US financial sector. The rule was approved by the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency. The rule aims at forcing banks to quickly respond to cybersecurity incidents.

Cybersecurity 145

Cybersecurity Financial Services Insurance Ransomware 145

eSecurity Planet

AUGUST 9, 2022

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

Data Privacy 144

Data Privacy Compliance Privacy Security 144

IBM Big Data Hub

JANUARY 16, 2024

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

Financial Services 48

Financial Services Customer Experience Cloud Digital transformation 48

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 62

Financial Services Cloud Compliance Authentication 62

Krebs on Security

SEPTEMBER 11, 2019

The company that handled that process for MyPayrollHR is a California firm called Cachet Financial Services. On Monday, New York Governor Andrew Cuomo called on the state’s Department of Financial Services to investigate the company’s “sudden and disturbing shutdown.”

Financial Services 279

Financial Services Cloud Insurance IT 279

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.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

Hunton Privacy

JANUARY 24, 2018

On January 22, 2018, the New York Department of Financial Services (“NYDFS”) issued a press release reminding entities covered by its cybersecurity regulation that the first certification of compliance with the regulation is due on or prior to February 15, 2018.

Financial Services 58

Financial Services Cybersecurity Compliance Insurance 58

Security Affairs

JULY 6, 2020

Xchanging is a business process and technology services provider and integrator, which provides technology-enabled business services to the commercial insurance industry. Securities and Exchange Commission (SEC). The company disclosed the security breach on July 5, but it is not clear when it has discovered the attack.

Ransomware 126

Ransomware Insurance Financial Services Manufacturing 126

Security Affairs

SEPTEMBER 4, 2023

The German Federal Financial Supervisory Authority (BaFin) is the national financial regulator in Germany, it is a federal agency under the jurisdiction of the Federal Ministry of Finance. The BaFin is responsible for overseeing banks, insurance companies, investment firms, and other financial institutions.

Financial Services 144

Financial Services Military Insurance Marketing 144

Security Affairs

AUGUST 20, 2024

branch of Toyota, stealing 240GB of files containing information on Toyota employees, customers, contracts, and financial details. However, the company attempted to downplay the incident claiming that the security breach is limited in scope. Toyota Financial Services (TFS) is the finance arm of the Toyota Motor Corporation.

Data breaches 125

Data breaches Financial Services Archiving Passwords 125

OpenText Information Management

NOVEMBER 22, 2023

All of these elements have put pressure on the financial … The post Predictions for the financial services industry in 2024 appeared first on OpenText Blogs.

Financial Services 59

Financial Services Artificial Intelligence Customer Experience Content services 59

The Last Watchdog

MARCH 26, 2019

Pick any company in any vertical – financial services, government, defense, manufacturing, insurance, healthcare, retailing, travel and hospitality – and you’ll find employees, partners, third-party suppliers and customers all demanding remote access to an expanding menu of apps — using their smartphones and laptops.

Security 145

Security Digital transformation Financial Services Risk 145

Security Affairs

JANUARY 17, 2022

This pre-release announcement for Critical Patch Update (CPU) for January 2022 confirms that Oracle security updates will address 483 new security patches. “A Critical Patch Update is a collection of patches for multiple security vulnerabilities. This Critical Patch Update addresses 483 new security patches.

Communications 131

Communications Financial Services Big data Retail 131

The Last Watchdog

AUGUST 22, 2019

A core security challenge confronts just about every company today. While the benefits of DX are highly-touted , this shift has also spawned a whole new tier of unprecedented privacy and security challenges. The cloud is kind of dragging this movement along and DevOps and security are center stage, at the moment.”

Digital transformation 147

Digital transformation Compliance Risk Security 147

The Last Watchdog

MAY 24, 2021

Akamai, which happens to be the Hawaiian word for “smart,” recently released its annual State of the Internet security report. billion hitting financial services organizations — an increase of more than 45 percent year-over-year in that sector. billion web attacks globally; 736 million in the financial services sector.

Financial Services 178

Financial Services Passwords Data breaches Authentication 178

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.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

The Last Watchdog

SEPTEMBER 24, 2024

The stolen information included full names, Social Security numbers, mailing addresses, phone numbers, and email addresses of millions of U.S., Investigations are ongoing, and several class-action lawsuits have been filed, alleging that the company failed to implement sufficient security measures. Canadian, and British citizens.

Authentication 215

Authentication IT ROT Compliance 215

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

Krebs on Security

SEPTEMBER 27, 2019

For more than a decade, MyPayrollHR worked with California-based Cachet Financial Services to process payroll deposits for MyPayrollHR client employees. NatPay said its insurance should help cover the losses it incurred when MyPayrollHR’s banks froze the company’s accounts. 1, 2019 to Aug.

Financial Services 269

Financial Services Insurance Cloud IT 269

Data Matters

JANUARY 28, 2022

The advisory was promptly endorsed by the National Cyber Security Centre, a division of Government Communications Headquarters (“GCHQ”), a UK intelligence agency. Like an incident response plan, MFA has become a critical element of cybersecurity programs.

Cybersecurity 157

Cybersecurity Financial Services Authentication Government 157

The Last Watchdog

APRIL 3, 2019

Its customer base is comprised of eight of the top 15 banks, four of the top six healthcare insurance and managed care providers, nine of the top 15 property and casualty insurance providers, five of the top 13 pharmaceutical companies, and 11 of the largest 15 federal agencies. Talk more soon.

Digital transformation 140

Digital transformation Insurance Compliance Healthcare 140

Data Protection Report

OCTOBER 17, 2024

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.

Artificial Intelligence 56

Artificial Intelligence Financial Services Risk Cybersecurity 56

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.

Risk 147

Risk Financial Services Insurance Cybersecurity 147

The Last Watchdog

MARCH 1, 2019

There’s a frantic scramble going on among those responsible for network security at organizations across all sectors. Enterprises have dumped small fortunes into stocking their SOCs (security operations centers) with the best firewalls, anti-malware suites, intrusion detection, data loss prevention and sandbox detonators money can buy.

Digital transformation 193

Digital transformation Marketing Analytics Risk 193

Security Affairs

SEPTEMBER 1, 2020

The Iranian hacker group has been attacking corporate VPNs over the past months, they have been hacking VPN servers to plant backdoors in companies around the world targeting Pulse Secure , Fortinet , Palo Alto Networks , and Citrix VPNs. ” reads the report published by Crowdstrike. Pierluigi Paganini.

Access 136

Access Financial Services Retail Insurance 136