Identity fraud cost the United States $16.8 billion in 2017. For Financial Services, the issue is acute. Thanks to a recent spate of data breaches, SSNs and other traditional identifiers are no longer fit for purpose. But without identity verification, new customers can't be onboarded.
Increasingly strict KYC and...
The hype around artificial intelligence (AI) and machine learning (ML) has exploded, sometimes overshadowing the real uses and innovations happening every day at organizations across the globe. The reality is that applying AI and ML to data-dependent challenges presents the opportunity for better security, faster...
In October of 2018, the banking industry unveiled its new Cybersecurity Profile to help financial institutions develop and maintain cyber risk management programs. This groundbreaking document - the culmination of two years' work - marries the NIST Cybersecurity Framework with the finance sector's highly complex...
Financial services have historically been at the forefront of adapting to changes in technology, regulations and consumer behavior. While businesses focus on the challenges of customer experience, digital transformation and cloud adoption, the industry is dealing with increased risks posed by operational challenges...
Hackers behind the FASTCash ATM cash-out attack campaign - tied by the U.S. government to North Korea - use Trojan code designed to exploit bank networks running outdated versions of IBM's AIX Unix operating system, Symantec warns.
Interest in artificial intelligence (AI) and machine learning (ML) is soaring, but confusion and hype can mask the real benefits of these technologies. Organizations need to identify use cases that will produce value for them, especially in the areas of enhancing processes, detecting anomalies and enabling predictive...
The financial services industry has unique challenges that often prevent it from achieving its strategic goals. The keys to solving these issues are hidden in machine data - the largest category of big data - which is both untapped and full of potential.
Download Banking on Machine Data to learn:
How organizations...
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity....
Email is Insecure
Boards of directors need effective communication and collaboration in order to reach their goals and fulfill the mission of the organization. Unfortunately, this puts corporate secretaries, general counsels and main board administrators under a lot of pressure to manage, secure and govern board...
Banks have a new tool available for developing cyber risk management programs. In an interview, architects of the Financial Services Sector Cybersecurity Profile, Denyette DePierro and Josh Magri, describe how to use it. They'll offer more details at ISMG's Legal & Compliance Summit in New York on Nov. 15.
New research has found that 74% of business customers think banks use machine learning and artificial intelligence to spot money laundering. In reality banks rely on human investigators to manually sift through alerts - a hard-to-believe fact selected only by 31% of respondents. This lack of automation and modern...
The U.K.'s National Cyber Security Center incident response teams have investigated more than 1,000 significant incidents in the past two years, the majority of which trace to nation-state attackers, officials say.
Banks are working harder than ever to address the threats posed by money launderers, fraudsters and cyber attackers. Often, these three groups are one and the same.
Wouldn't it make sense for the teams in your bank facing these threats to work together more closely? We think the answer lies in an intelligence-led...
Building Security in Maturity Model, BSIMM: What is it and How Your Organization Can Leverage the Data
Do you ever wonder whether your software security program is the correct one for your organization? You spend time and money on processes, technology, and people. But how do you know whether the security efforts...
Email security in the era of the cloud is a critical concern for business leaders. This tool is a powerful way for businesses and services to communicate with their customers. From transaction notifications to billing statements to social media updates, email is a proven reliable and effective way for businesses to...
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