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Bank Card "Master Key" Stolen

Schneier on Security

The bank's master PIN key was stolen, forcing it to cancel and replace 12 million bank cards. The breach resulted from the printing of the bank's encrypted master key in plain, unencrypted digital language at the Postbank's old data centre in the Pretoria city centre. The bank lost $3.2

Banking 325
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The Risk of Weak Online Banking Passwords

Krebs on Security

If you bank online and choose weak or re-used passwords, there’s a decent chance your account could be pilfered by cyberthieves — even if your bank offers multi-factor authentication as part of its login process. Image: Hold Security.

Banking 257
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Is Your Chip Card Secure? Much Depends on Where You Bank

Krebs on Security

Traditional payment cards encode cardholder account data in plain text on a magnetic stripe, which can be read and recorded by skimming devices or malicious software surreptitiously installed in payment terminals. Newer, chip-based cards employ a technology known as EMV that encrypts the account data stored in the chip.

Banking 362
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57,000 Bank of America Customers' Data Compromised in Breach

SecureWorld News

Bank of America is notifying customers that their personal information was compromised in a data breach impacting Infosys McCamish Systems (IMS), a third-party vendor. According to breach notification letters , the exposed customer data includes names, addresses, Social Security numbers, dates of birth, and financial account details.

Banking 91
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Digital Banking - Case Study

Approachable Cyber Threats

Banks are taking revolutionary approaches to digitize and streamline the customer experience - but these measures could come with a cost without strategic cybersecurity measures. The world is changing, and the banking industry is evolving too. The Industry Digital banking is transforming the way people access and manage their finances.

Banking 94
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Indian Bank Hit in $13.5M Cyberheist After FBI ATM Cashout Warning

Krebs on Security

12, KrebsOnSecurity carried an exclusive : The FBI was warning banks about an imminent “ATM cashout” scheme about to unfold across the globe, thanks to a data breach at an unknown financial institution. On Sunday, Aug. million unauthorized ATM withdrawals from more than two dozen cash machines across multiple countries.

Banking 194
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Best Encryption Software for 2022

eSecurity Planet

It’s been a couple of decades since data tapes delivered by trucks made encryption a standard enterprise cybersecurity practice. Yet even as technology has changed, sending and receiving data remains a major vulnerability, ensuring encryption’s place as a foundational security practice. What is Encryption?