Showing Blog Posts: 1–10 of 16 tagged Financial Services

  • Banks Still Have the Most Money – and Pay the Price in the Cyber Realm

    by Robert Ackerman Jr. on September 4, 2018

    Not so long ago, the biggest headache at most banks was bad credit, or, in a few cases, fear of a bank robbery. Those simple, if troublesome, days have receded deep into the background. Today the biggest concern of banks and other players in the financial services sector is cyber attacks – and for good reason. According to Security Boulevard , the financial services industry remained among the…

  • In the Financial Services Industry, the Time for a Fresh Approach to Cyber Security is Now

    by Tony Kontzer on August 28, 2018

    Back in the Old West, banks were the whipping boys of criminals. Anyone with a gun and an eye for ill-gotten gain would target banks because that's where all the money was, and there weren't a whole lot of safeguards preventing someone from walking into the town branch and holding it up. Today, pretty much any business that manages transactions or holds valuable data can find itself on the wrong…

  • The Fight Against the Next Generation of Cyber Threats

    by Harold Kilpatrick on August 16, 2018

    The finance sector has long been a primary target for cybercrime, and that will not be changing any time soon; the challenge that most financial institutions face is staying one step ahead of their cyber adversaries. A recent SWIFT Institute paper, “Forces Shaping the Cyber Threat Landscape for Financial Institutions,” published October 2 nd , 2017, outlines the ways to think and look at how…

  • Navigating the Threat from Within: Insider Threats in the Finance Industry

    by Isaac Kohen on August 9, 2018

    Protecting sensitive data is a top priority for financial organizations. With the expanding threat landscape, organizations must look to new technologies and strategies to protect sensitive data. Data isn’t safe and in the financial industry, sensitive data - like account information - can be exploited at any moment by an individual with malicious intention. Old Traditions Won’t Cut It For Insider…

  • Bringing It All Together: NYS DFS, SWIFT, SEC and GDPR

    by Steven Grossman on April 26, 2018

    The Financial Services industry tends to be at the cutting edge of technology, and as a result, is often the group to be ahead of the curve of both its benefit and hazards. Whether it’s faster transactional processing in support of gaining even the slightest edge in trade execution or leveraging big data to gain unprecedented insights, financial services is the place to be. On the other hand, the…

  • Fast Detection of Breaches is ideal to keep Financial Data Safe

    by Salvatore J. Stolfo on April 10, 2018

    Malicious attacks targeting a company’s confidential financial data with the intent to make a profit is nothing new. What is disturbing, however, is the amount of time the hacker can go unnoticed, in some reported cases of breaches as long as months. In 2015, 32 Ukranian hackers made as much as $100 million by accessing financial earnings press releases stored at PRNewswire and other newswire…

  • New York Cybersecurity Regulations: An Important Step, but Still a Long Way From the GDPR

    by Tony Kontzer on March 29, 2018

    Leave it to New Yorkers to take a uniquely aggressive stand against cybercrime. Sure, the effort only protects one industry, but we have to start somewhere. As home to the world's greatest concentration of financial services firms, not to mention the most powerful stock exchanges on the planet, New York has a lot to protect. Which is why Gov. Andrew Cuomo in 2016 directed the state's Department…

  • Financial Services Organizations Are in Need of a Cyber Security Wake-Up Call

    by Tony Kontzer on July 7, 2017

    There's little to suggest that the money you've entrusted to the financial institutions you do business with is in jeopardy. But the data surrounding that money? That's another story. Financial services companies are braced for a period of continued and expanded cyber threats, and the really bad news is that many of them aren't prepared to withstand the onslaught. Recent surveys paint a picture…

  • Financial Cybersecurity Regulations Are a Win for Privacy

    by Tom Boyden on January 30, 2017

    Beginning this year, financial and insurance companies in the state of New York will have to comply with some of the country’s most stringent and far-reaching cybersecurity regulations. In September, Governor Andrew Cuomo announced the new rules, which are meant to protect consumers, companies, and our financial infrastructure from the growing threat of cyberattacks. The regulations in their…

  • Banking Apps Look to Balance Convenience, Security

    by Nathan Eddy on January 25, 2017

    Mobile banking technology is poised to become ubiquitous. Soon connecting with your banker via video will be as easy and commonplace as checking your account balance on your smartphone. In the not-so-distant future, customers will expect to always have the option to chat face-to-face with their banker either on a mobile app, from an ATM or at a kiosk or meeting room in the branch itself. With…

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