Although most breach-related class action lawsuits fail, a multimillion dollar settlement of a suit stemming from a data breach at St. Joseph Health System in California illustrates how egregious breaches can have serious financial consequences.
Growing worries about the use of the U.S. financial system to launder funds for terrorists has spurred proposals for new state and federal regulations aimed at tightening money-laundering controls. Attorney Lauren Resnick explains steps banks are taking to help detect suspicious activity.
In a lawsuit, two small merchants say they, and many other retailers, are unfairly being forced to pay fraud-related expenses as a result of the EMV liability shift even though they converted to EMV technology by the card brands' deadline. Fraud prevention experts analyze the implications of the case.
A new report suggests that a Chinese cyber espionage APT attack group is behind a string of targeted ransomware infections that have slammed U.S. firms. Dig into the details, however, and the report is nothing but speculation, two security experts caution.
Advanced attacks are out, while persistent, relatively simple attacks are in. Despite all of the APT hype in recent years, cybercriminals, and especially nation-state attackers, prefer to keep things simple. Information security experts explain why.
The FBI calls ransomware "a prevalent, increasing threat." One recent campaign earned at least $325 million in global profits, while U.S. victims tell the FBI they paid $24 million in ransoms in 2015. And attackers are plowing profits back into improving their malicious code.
Although relatively few carriers offer cyber insurance, buyers can negotiate favorable terms when purchasing policies, say Experian's Michael Bruemmer and NetDiligence's Mark Greisiger, who explain why in this interview.
Hackers stole $100 million from the Bangladesh Bank after apparently obtaining payment-transfer codes and moving the money overseas in what experts say appears to be one of the largest bank heists in history.
Because of growing cybersecurity concerns, CISOs in the financial sector finally are getting more time with their boards of directors and more direct interaction with senior executives, says John Carlson, chief of staff at the Financial Services Information Sharing and Analysis Center.
The Internal Revenue Service has temporarily deactivated an online PIN-retrieval tool meant to prevent stolen Social Security numbers from being used to file fraudulent returns after finding that hackers had successfully subverted the system.
The big-name breaches have made us all sensitive to the loss of personal and competitive data. But are we overlooking the real risks? Shawn Henry of CrowdStrike offers insight on how we need to evolve our core defenses.
Blockchain technology used by bitcoin and other cryptocurrencies offers opportunities for enhanced authentication and ID management, as well as cross-border money remittances, says Ben Knieff of the consultancy Aite. But he contends it's not clear that the technology could play a role in faster payments.
Spear phishing, well-crafted socially engineered wire-transfer schemes and mobile-app overlay attacks will continue to escalate, which is why anti-phishing education is becoming increasingly critical, Dave Jevans of the Anti-Phishing Working Group says in this video interview.