The New York Department of Financial Institutions today recognized the Cyber Risk Institute’s Financial Services Cybersecurity Profile as an assessment tool that meets state cybersecurity regulations for banks and financial firms.
Effective cybersecurity practice means new focuses and a new culture for a digital age.
With ransomware attacks increasing in frequency and sophistication, the FBI and the Cybersecurity and Infrastructure Security Agency yesterday issued a reminder to public and private organizations to remain vigilant and take precautions to reduce their susceptibility to ransomware during the holiday season.
The federal banking agencies today finalized a rule requiring banks to notify their primary regulator within 36 hours of becoming aware that a “computer-security incident” that rises to the level of a “notification incident,” has occurred.
The more people are looking for vulnerabilities, flaws in security structures and emerging threats, the more prepared financial institutions will be for a potential attack.
Synthetic identity fraud, where fraudsters create an artificial identity out of multiple pieces of real and fabricated data, resulted in $20 billion in losses for U.S. banks and financial institutions in 2020, according to a new report from software company FiVerity.
In remarks at an industry event in Washington today, Acting FinCEN Director Himamauli Das addressed the growing threat of ransomware.
In the first six months of 2021, the Financial Crimes Enforcement Network identified $590 million in ransomware-related Suspicious Activity Reports, a 42% increase compared to the 2020 total of $416 million.
Fraudsters are leveraging many financial institutions’ own generation-targeted marketing schemes and product offerings to target widely different groups of consumers.
The more people are looking for vulnerabilities, flaws in security structures and emerging threats, the more prepared financial institutions will be for a potential attack.