Finance News, Articles and Updates
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 has introduced a daily reporting system intended to help members of the financial messaging system identify fraudulent payments made over the network.
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.
To better protect consumer data, banks and insurance companies in New York will soon be required to adhere to new cybersecurity guidelines.
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.
Despite its reduction in volume, Dridex malware is still actively being developed.
The new rules are designed to enhance and clarify existing requirements relating to cybersecurity testing and system safeguards risk analysis.
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.
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 are being lured into clicking on a malicious link embedded in a tweet that appears to come from the financial transaction service.
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.
The Democratic senators sent a letter to the White House stressing the importance of developing a "coordinated strategy" to battle cybercrime at financial institutions.
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.
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 people have been charged in Switzerland for a global computer fraud scam.
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).
Spending big bucks is not always necessary for corporations to put a decent cybersecurity program in place.
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.
Capitalizing on Olympics activity, a new version of Zeus Sphinx has been targeting banks in Brazil and Colombia.
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.
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.
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.
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.
Venture capitalist investments in cybersecurity firms have seen a 235 percent growth rate over the past five years as cyberthreats increase.
A Georgia-based trader pleaded guilty to fraud for involvement in a scheme that gained financial information from embargoed press releases.
All clients of Barclays bank will now be able to verify their banking accounts using voice-recognition technology.
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).
A third-party provider is being blamed for a possible breach into customer transactions at GunMag Warehouse.
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.
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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