Finance News, Articles and Updates

SWIFT adds additional protective measures for members to ensure cybersecurity compliance

SWIFT adds additional protective measures for members to ensure cybersecurity compliance

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For the second time this month The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has introduced new standards including mandatory security requirements for its customers.

SWIFT introduces daily reporting system for member customers

SWIFT introduces daily reporting system for member customers

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SWIFT has introduced a daily reporting system intended to help members of the financial messaging system identify fraudulent payments made over the network.

Cybercrooks use drive-by malware to rob Reddit users' cryptowallets

Cybercrooks use drive-by malware to rob Reddit users' cryptowallets

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Details of the attack are still blurry, attackers appear to be using malicious links designed to appeal to users monitoring the evolution of the Bitcoin prices.

Cybersecurity enhancements proposed for financial firms in New York

Cybersecurity enhancements proposed for financial firms in New York

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To better protect consumer data, banks and insurance companies in New York will soon be required to adhere to new cybersecurity guidelines.

Trojan distribution methods highlight need for info sharing in financial services industry

Trojan distribution methods highlight need for info sharing in financial services industry

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As financial institutions scramble to prevent more attacks like the cyber heists that targeted SWIFT members, a recent report offers additional cause for the sector to improve information sharing practices.

Latest Dridex includes new cryptocurrency targeting and new features to evade detection

Latest Dridex includes new cryptocurrency targeting and new features to evade detection

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Despite its reduction in volume, Dridex malware is still actively being developed.

CFTC imposes cybersecurity rules for U.S. commodities, derivatives firms

CFTC imposes cybersecurity rules for U.S. commodities, derivatives firms

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The new rules are designed to enhance and clarify existing requirements relating to cybersecurity testing and system safeguards risk analysis.

Wells Fargo Bank fined $185M, fires 5,300 staffers over fake account scam

Wells Fargo Bank fined $185M, fires 5,300 staffers over fake account scam

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Wells Fargo Bank was fined $185 million for a five-year long scam that saw bank employees illegally creating fake accounts and email addresses and apply for credit and debit cards to meet sales goals and earn commissions.

SWIFT warns of new attacks, pushes for security upgrades

SWIFT warns of new attacks, pushes for security upgrades

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In a letter to clients, SWIFT said a fresh wave of attacks had hit other member banks and urged clients to adopt the latest version of its software by November 19.

Paypal users targeted in new angler phishing scam, Proofpoint report

Paypal users targeted in new angler phishing scam, Proofpoint report

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Paypal users are being lured into clicking on a malicious link embedded in a tweet that appears to come from the financial transaction service.

RIPPER malware suspected behind $350K Thailand ATM heist, report

RIPPER malware suspected behind $350K Thailand ATM heist, report

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FireEye researchers dove into the inner workings of the RIPPER ATM malware which they believe allowed a pack of cyberthieves to make off with 12 million baht.

Six senators urge Obama to prioritize cybercrime at G20 summit

Six senators urge Obama to prioritize cybercrime at G20 summit

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The Democratic senators sent a letter to the White House stressing the importance of developing a "coordinated strategy" to battle cybercrime at financial institutions.

Lost devices leading cause of data breaches, report

Lost devices leading cause of data breaches, report

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Phishing scams and ransomware attacks may be grabbing the headlines, but for the financial sector lost or stolen mobile devices were the leading cause of data breaches over the last decade.

M&A deals bring added cybersecurity risks

M&A deals bring added cybersecurity risks

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Security professionals are increasingly concerned by cybersecurity risks that arise as a result of mergers and acquisitions transactions, particularly the use of cyberespionage to gain information on the competition.

Three indicted in Switzerland for phishing scam

Three indicted in Switzerland for phishing scam

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Three people have been charged in Switzerland for a global computer fraud scam.

Report: ATM hackers flee Thailand after stealing $350,000 from state-run bank

Report: ATM hackers flee Thailand after stealing $350,000 from state-run bank

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Five suspected cyberthieves have reportedly fled Thailand after allegedly stealing approximately $350,000 in cash from 21 malware-infected ATMs operated by the state-run Government Savings Bank (GSB).

Saving money on security software by improving cyber posture, report

Saving money on security software by improving cyber posture, report

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Spending big bucks is not always necessary for corporations to put a decent cybersecurity program in place.

GozNym malware is proficient in German, new malicious campaign proves

GozNym malware is proficient in German, new malicious campaign proves

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Thirteen German financial institutions and their subsidiaries have recently felt the wrath of GozNym as the downloader and banking malware hybrid intensifies its campaign against European banking customers.

New Zeus Sphinx banking trojan hitting Brazil

New Zeus Sphinx banking trojan hitting Brazil

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Capitalizing on Olympics activity, a new version of Zeus Sphinx has been targeting banks in Brazil and Colombia.

New Scylex financial crimeware strives to be the next Zeus

New Scylex financial crimeware strives to be the next Zeus

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If Zeus was the king of banking trojans, then newcomer Scylex is looking to claim Zeus' old perch atop the Mt. Olympus of financial malware.

Jury selection in Seattle for Russian hacker charged with credit card fraud

Jury selection in Seattle for Russian hacker charged with credit card fraud

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Roman Valerevich Seleznev, a Russian charged with hacking into servers and global carding forum sites resulting in $170 million in phony credit card purchases, will face a federal jury this week.

Report: Spyware used to dox Vietnam Airlines is lurking in other Vietnamese institutions

Report: Spyware used to dox Vietnam Airlines is lurking in other Vietnamese institutions

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Spyware that was recently found to have infiltrated Vietnam Airlines has also embedded itself in the website operations of various Vietnamese institutions, warned cybersecurity firm Bkav, the Vietnam News Agency reported.

Four Australian banks seek Apple tech for mobile transactions, Apple says no

Four Australian banks seek Apple tech for mobile transactions, Apple says no

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A group of four banks in Australia want customers to be able to use the banks' own mobile apps when conducting financial transactions with Apple Pay.

Investment in cybersecurity strong as cyberthreats increase

Investment in cybersecurity strong as cyberthreats increase

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Venture capitalist investments in cybersecurity firms have seen a 235 percent growth rate over the past five years as cyberthreats increase.

Trader pleads guilty in newswire hacking scheme

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A Georgia-based trader pleaded guilty to fraud for involvement in a scheme that gained financial information from embargoed press releases.

Barclays rolls out voice recognition security

Barclays rolls out voice recognition security

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All clients of Barclays bank will now be able to verify their banking accounts using voice-recognition technology.

Feds nix SMS-based 2FA

Feds nix SMS-based 2FA

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Government service providers will be required to phase out the use of SMS-based two-factor authentication (2FA) as the result of new guidelines from the National Institute of Standards and Technology (NIST).

Possible breach at GunMag Warehouse

Possible breach at GunMag Warehouse

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A third-party provider is being blamed for a possible breach into customer transactions at GunMag Warehouse.

Patchwork cyberespionage campaign branches out to strike businesses

Patchwork cyberespionage campaign branches out to strike businesses

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The cybergang behind the Patchwork, aka Dropping Elephant, cyberespionage campaign has expanded its reach outside of government organizations and is now hitting the private sector.

House committee grills FDIC after report details history of data breach cover-ups

House committee grills FDIC after report details history of data breach cover-ups

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An interim report filed yesterday by the U.S. House Committee on Science, Space and Technology revealed gaping holes in the FDIC's cybersecurity posture and accused the financial institution of withholding documents pertaining to data breaches.

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