The financial services industry is a leading target for cyber criminals because there’s not just one way to profit from an attack. Whether it’s the direct theft of funds and customer data, extortion, or fraud, financial institutions have a metaphorical bullseye on their backs when it comes to...
Security teams are investing more time and resources in securing corporate networks than ever. As they plan for business continuity, remote work, and the transition to the next new normal, CISOs and security buyers are asking for significant budget increases in 2021.
But as security professionals work hard to protect...
Everything flowing through today’s banking market is connected by technology, and the critical role security plays in the way data and assets are protected. Customers need a trusted source of identification. Regulations are redefining the way information is used, stored, and shared, while financial institutions are...
Visibility - lack of - has been the common complaint of financial services enterprises newly embracing the cloud. But Terry Ray if Imperva offers new strategies not only for tackling visibility, but for taking advantage of new, cloud-enabled security capabilities.
Banking institutions are seeing a significant spike in
multichannel financial crimes. Data and analytics can be
key differentiators in the effort to protect sensitive
financial information.
Download this eBook to learn more about:
Financial crime trends and how they’ve evolved in 2020;
The manifestation of...
Alexander Vinnik, a Russian national who founded the now-defunct BTC-e cryptocurrency exchange, has been found guilty of money laundering in France and has been sentenced to five years in prison, according to media reports. He faces additional charges in the U.S. and Russia.
Citi, Equifax, Capital One - the list of financial institutions that have suffered high-profile cyber incidents is long, and the penalties they've incurred have been steep. To Scott Kannry, CEO of Axio, it all comes down to cyber risk - and he has new ideas for redefining it.
Digital banking has become the single most effective channel for financial institutions to drive growth, increase revenue and attract new customers. Yet, it also introduces more risk, and cybercriminals are following the money right into the online account opening process.
Today, a staggering 85% of financial...
COVID-19 has accelerated the shift to digital banking. Now financial organizations must balance robust fraud prevention with a frictionless user experience, says Mike Slaugh, executive director of financial crimes management at USAA.
The unprecedented level of cybersecurity risk today extends far beyond the four walls of the enterprise. There is no longer any difference between personal and corporate protection when it comes to members of the executive team and board. High-level individuals now have a single, unified digital life, and senior...
From credit cards and mule accounts to a wide range of lending products, cybercriminals are sparing no effort to turn a profit by exploiting weaknesses in the account opening process. This fraud is especially challenging to detect when the user has no digital footprint with the institution. So how can you trust a...
From credit cards and mule accounts to a wide range of lending products, cybercriminals are sparing no effort to turn a profit by exploiting weaknesses in the account opening process. This fraud is especially challenging to detect when the user has no digital footprint with the institution. So how can you trust a...
MAXEX, a company that develops a digital trading platform for the secondary mortgage market in the U.S., leaked 9 GB of internal documentation as well as full mortgage applications for 23 individuals. The data was released by a Swiss-based developer who apparently was unaware it was sensitive.
To help prevent fraud, banks must leverage technologies such as behavioral analytics, device biometrics and one-time passcodes, says Nancy Guglielmo, senior vice president at the Bank Policy Institute.
Criminals have been seeking innovative new ways to steal cash from ATMs. In the U.S., there has been a surge in physical attacks, while Europe has seen a sharp increase in "black box" attacks designed to make ATMs dispense cash on demand.
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