Netwrix, a cybersecurity vendor that makes data security easy, recently revealed additional findings for the financial, banking and accounting sector from its survey of 1,610 IT and security professionals from more than 100 countries. According to the report, within the last 12 months, 77% of financial organizations detected a cyberattack, compared to 68% among other industries. Phishing and ransomware were the most common types of attacks across all sectors.
Black Kite, provider third-party cyber risk intelligence, recently released its highly anticipated report, “Ransomware Threat Landscape 2023: Ransomware Resurgence”.
Onboarding customers digitally is a challenging juggling act for banks. Prospective customers will abandon the process if it doesn’t meet their expectations for an easy experience.
- By Katie Björk
- Apr 18, 2023
We’re in a world that’s becoming increasingly digital and financial institutions are no exception to that transformation. While the local branch can still directly manage money transactions or help a customer cash in rolls of quarters, more banks are leveraging technology that enables customers to engage with their banks using ATMs and apps for their money management.
In recent years, the term “digital transformation” has been one of the most frequently used buzzwords across industries. On its most basic level, it refers to the reimagining of how an organization leverages its technology systems to improve business processes.
- By Matt Tengwall
- Mar 16, 2023
We have all read or heard about incidents of cybercrime targeting government and commercial entities to compromise services or harvest information. As you can image, financial institutions are a primary target for attack.
- By David Uberig
- Dec 01, 2021
Just as banks use every tool at their disposal to maximize revenue opportunities and manage their ledger, they must take the same approach when it comes to security.
- By Kami Dukes
- Sep 04, 2020
To be successful in financial services, banks, investment firms and other institutions need to prove to their customer base that they are safe and trustworthy. Yet many still rely on passwords, PINs and other knowledge- based authentication factors—which are not only unreliable, but also insecure.
- By Simon Marchand
- Sep 03, 2020
Business email compromise attacks continue to be effective, tricking victims into transferring funds to fraudulent accounts.
- By Haley Samsel
- Apr 09, 2020
The threat landscape continues to evolve for every business. But banks and financial services companies face especially urgent demands.
- By Bill Wayland
- Feb 01, 2020
Two Nigerian citizens are accused of leading a massive fraud scheme that transferred at least $6 million in fraudulently-obtained funds, much of whom was taken from elderly people.
- By Haley Samsel
- Aug 26, 2019
In a search of Paige Thompson’s home, federal agents found servers holding stolen data from other companies and an “arsenal of weapons” belonging to her roommate.
- By Haley Samsel
- Aug 16, 2019
A lone attacker is accused of stealing personal information that included bank account numbers and Social Security numbers.
- By Haley Samsel
- Jul 31, 2019
The credit-reporting agency will pay at least $300 million to victims. But it may be difficult for consumers to prove direct losses from identity theft.
- By Haley Samsel
- Jul 23, 2019
A year after a privacy researcher showed the world that Venmo transactions could be easily accessed, a computer science student scraped seven million Venmo transactions to increase awareness of the issue.
- By Kaitlyn DeHaven
- Jun 19, 2019
The banking market continues to evolve due to the growing use of mobile devices, as more branch operations aim to enhance convenience and service for the customer.
- By Matt Tengwall
- Apr 01, 2019
As its evangelists work day and night to popularize digital currencies, Bitcoin ATM machines are popping up to help the unbanked and underbanked have access to the leading cryptocurrency.
"HSBC became aware of online accounts being accessed by unauthorized users between October 4, 2018 and October 14, 2018," the bank wrote in a data breach notification letter submitted to Californian authorities.
- By Jessica Davis
- Nov 08, 2018
Eighteen payment processors from the U.S. and U.K. tested their systems for cyber attacks.
- By Sydny Shepard
- Oct 16, 2018
By definition, cash-in-transit (CIT) is the physical transfer of banknotes, coins, credit cards and items of value from one location to another.
- By Travis Ferry
- Sep 01, 2018