Verizon report: cyber incidents, breaches driven by external actors
A majority of data breaches during 2021—73%—were perpetrated by external actors, according to findings from Verizon’s latest global data breach investigations report.
Browsing: Cyber crime
Banking groups call for changes to SEC cyber incident reporting proposal
ABA and a coalition of financial services groups today called for extensive changes to a proposal by the Securities and Exchange Commission that would create new requirements for public companies regarding the disclosure of cybersecurity incidents.
ABA Foundation, FTC release consumer education infographic on payment app scams
The American Bankers Association Foundation and the Federal Trade Commission released an infographic with information to help consumers protect themselves when using mobile payment apps and services.
FDIC, FinCEN recognize digital identity proofing Tech Sprint teams
The FDIC and the Financial Crimes Enforcement Network recognized three teams for excellence in a recent “tech sprint” to develop solutions for banks and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate and verify information about a person.
OFAC sanctions Darknet market, virtual currency exchange
The Treasury Department’s Office of Foreign Assets Control today announced sanctions against Hydra Market, the world’s largest and most prominent darknet market, for being responsible or complicit in cyber-enabled activities against the United States.
The Post-Pandemic Fraud War: How to Play Offense
The pandemic has created many new challenges and changed the fraud risk landscape—perhaps permanently. It has also provided a training ground for a new generation of fraud attackers.
Combating the Six Types of Financial Crime That Spiked During the Pandemic
Among the ways banks can respond to today’s quickly changing criminal activity is by incorporating flexible fraud-detection controls that allow them to create or adjust rules on the fly.
Nichols Comments on Political, Cyber Risks Facing Banks
Speaking on a virtual panel at FT Live’s Global Banking Summit Wednesday, ABA President and CEO Rob Nichols addressed top risks and challenges facing the banking industry, including the shifting regulatory and policy environment.
Powell: Banking System Strong, Cyber Risk Remains a Threat
Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today that “the banking system is strong,” and that while “there are some issues to address in the capital markets, I wouldn’t say they rise to the level of grave systemic importance.” He did flag cyber risk as a key threat to financial stability.
FBI, CISA Warn of Ransomware Threat During Holiday Season
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.