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2024 Thales Global Data Threat Report: Trends in FinancialServices madhav Tue, 10/15/2024 - 05:17 Financialservices (FinServ) firms are key players in the global economy. The Dangers of Emerging Technology Trends When asked about emerging concerns, quantum computing threats came up unsurprisingly.
Its a question of how much risk your organization is willing to take, based on the data you must protect and its long-term value. We recommend using Dr. Michele Moscas theorem of quantum risk against an optimistic vs. pessimistic probability analysis. This is where the concern of harvest now, decrypt later attacks apply.
These massive providers promise global cybersecurity coverage, deep expertise, and cutting-edge technology, making them the default choice for enterprise cybersecurity solutions. Could this mean that large enterprises are actually more at risk than smaller ones? That’s what I’m exploring in this blog. Let’s dive in.
As we approach 2025, the cybersecurity landscape is evolving rapidly, shaped by technological advancements, regulatory shifts, and emerging threats. Tools like ChatGPT and Bard, powered by large language models, showcase how generative AI transforms business processesbut they also pose new risks. The challenge?
In 2022, the Consumer Financial Protection Bureau documented thousands of cases where consumers were denied housing, employment, or financialservices based on logically impossible data combinations in their profiles. Imagine being able to share just a single cell in a table or a specific field in a file.
The result has been an alarming surge in fraud losses and a fundamental challenge to the trust-based interactions that financialservices rely on. banks have reported thwarting or falling victim to such attempts, indicating that AI-driven scams have moved from a theoretical threat to a daily risk. Figure 1: Projected U.S.
The partnership introduces the Reflectiz Security Integration within Datadog’s platform, enabling joint customers to proactively identify and remediate risks across their entire web ecosystem: from first-party applications to complex third-party and supply chain dependencies. Director of Strategic Alliances at Reflectiz. “By
While any business is a potential target for hackers, critical infrastructure organizations including defense, healthcare, energy, utilities, and financialservices companies are perhaps most at risk due to their financial resources. According to the U.S.
This escalation highlights the urgent need for organizations to prioritize the security of their vendor networks and assess their associated risks meticulously. Financialservices have also faced significant incidents, with many institutions relying heavily on third-party technology partners to deliver essential services.
Skip to content Cisco Blogs / Security / Secure Your Business With Cisco Hybrid Mesh Firewall Solutions July 3, 2025 Leave a Comment Security Secure Your Business With Cisco Hybrid Mesh Firewall Solutions 3 min read Renato Morais Technology is advancing faster than ever, and with it comes new challenges for businesses trying to stay secure.
The Relevance of Privacy-Preserving Techniques and Generative AI to DORA Legislation madhav Tue, 10/29/2024 - 04:55 The increasing reliance on digital technologies has created a complex landscape of risks, especially in critical sectors like finance.
If you’re part of the financialservices ecosystem hereor interact with businesses regulated by the New York State Department of Financial Servicesyouve likely come across the NYDFS Cybersecurity Regulation. The program should be tailored to your specific business risks. What Is the NYDFS Cybersecurity Regulation?
However, as important as PCI may be, United States financialservices organizations operate in one of the worlds most stringent and complex compliance landscapes. Understanding the US FinServ Compliance Landscape The US financialservices industry is subject to a vast number of laws and regulations.
This extensive hands-on experience, spanning financialservices, healthcare, government, and other sectors, provides us with unique insight into the current cybersecurity landscape facing enterprise mainframe environments.
Non-compliance poses significant risks to sensitive cardholder information, making compliance essential. National Institute of Standards and Technology (NIST) SP 800-53 Rev. ISO/IEC 27001 & ISO/IEC 27017: These ISO standards offer vital guidance for securing cloud services, particularly the APIs that support them.
The latest guidance for adopting AI securely comes from the World Economic Forum, whose new Artificial Intelligence and Cybersecurity: Balancing Risks and Rewards report seeks to explain how organizations can benefit from AI while reducing their cybersecurity risks. Do we weigh risks against rewards when considering new AI projects?
This targeting strategy reflected a focused campaign aimed at compromising users of financialservices through credential theft. This update added 14 new targeted applications, increasing the scope of its attacks and broadening the range of financialservices it can exploit.
11, 2025 360 Privacy , a leading digital executive protection platform, today announced that it has secured a $36 million growth equity investment from FTV Capital , a sector-focused growth equity firm with a successful track record of investing across the enterprise technology landscape. Nashville, TN Mar.
With the increasing reliance on digital systems and the growing sophistication of cyberattacks, DORA harmonises requirements across member states, reduces fragmentation and ensures a consistent approach to ICT risk management. DORA mainly covers organisations in the financialservices sector. What organisations are in scope?
New York’s Privacy Laws: A Legacy and a Challenge New York is a leader in finance, culture, and technology. The New York Department of FinancialServices (DFS) Cybersecurity Regulation, introduced in 2017, was groundbreaking, setting a high bar for financial institutions.
ADAMnetworks is excited to announce Wyo Support to the family of Licensed Technology Partners. After working with the various systems and technologies, there are few that compare with the protection that ADAMnetworks provides. No other technology provides the simple end user interface for such a powerful connection management tool.
The Shift Toward Revenue-Positive Compliance A 2023 study by Todd Haugh and Suneal Bedi from Indiana University’s Kelley School of Business offers groundbreaking insights into how compliance can create positive value beyond traditional risk management. Ensure Multi-Industry Compliance Compliance isn’t a one-size-fits-all situation.
30, 2024, CyberNewswire — The American Transaction Processors Coalition (ATPC) Cyber Council will convene “The Tie that Binds: A 21st Century Cybersecurity Dialogue,” on October 31, 2024, at the Bank of America Financial Center Tower’s Convention Hall in Atlanta. Atlanta, GA, Oct.
The Cyber Risk Institute (CRI) Profile is a cybersecurity and risk management framework designed specifically for the financialservices sector. Compliance begins with an Impact Tiering Questionnaire, which helps the institution determine its level of cyber risk exposure and regulatory relevance using a four-tier model.
In a world that pushes the limits with technology comes an increase in the relentless persistence of cyberattacks and we need to be prepared. His background is around building and improving effective software security initiatives, with deep expertise in the financialservices sector.
Meet the Contributors This roundup includes insights from these NetSPI Partners: Thomas Cumberland, Tier 3 Senior Analyst at Cyber Sainik Michael Yates, CISO at All Lines Tech Sean Mahoney, Vice President at Netswitch Technology Management Kendra Vicars, Risk and Compliance Manager at Legato Security 1.
Fraud Awareness Week: How to Effectively Protect Your Data and Combat Fraudsters madhav Tue, 11/19/2024 - 05:28 International Fraud Awareness Week (November 17-23) is a critical time to consider the significant risks that fraud poses to individuals and organizations. million in FY23. The same can become a reality for private businesses.
The standard introduces structured governance, risk assessments, and oversight. As global regulatory pressure increases, ISO/IEC 42001 positions organizations to meet stakeholder trust demands, reduce operational risk, and demonstrate readiness for compliance. It applies to any organization using AI—not just those building models.
The big difference now is that AI technology can boost these efficiencies in new and exponentially profitable ways. "Overcoming these challenges requires not just technology upgrades, but also cultural and operational shifts to allow for cross-functional alignment and scalable integration," Priest explains.
Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.
One of the top findings from the 2018 Thales Data Threat Report, FinancialServices Edition was that data breaches in U.S. financialservices organizations are increasing at an alarming rate. The post FinancialServices Data – More at risk than you’d believe appeared first on Data Security Blog | Thales eSecurity.
Director, Infrastructure Security at FINRA on the SecureWorld broadcast Mitigate Insider Risk in Financial Firms. 4 key findings of insider threats in the financialservices sector. That was interesting that all the technology that we have didn't catch the majority of these insider threats.". And much more.
Risk management is a concept that has been around as long as companies have had assets to protect. Risk management also extends to physical devices, such as doors and locks to protect homes and vehicles, vaults to protect money and precious jewels, and police, fire, and CCTV to protect against other physical risks.
The rules would ensure people can obtain their own financial data at no cost, control who it’s shared with and choose who they do business with in the financial industry. The best way for financialservices firms to meet the CFPB’s rules would be to apply the decoupling principle broadly.
Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.
One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage. Third-Party Risks And Coverage.
Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the FinancialServices Sector." The report highlights the growing concern around artificial intelligence (AI) and its potential to introduce new cybersecurity threats to the financial industry.
Key recommendations for FinancialServices to improve cybersecurity and resilience in multi-clouds madhav Wed, 01/17/2024 - 05:46 The Digital Operational Resilience Act (DORA) will apply to the EU financial sector from 17 January 2025. As set out in its Article 2, DORA applies to the entire financialservices sector.
This week, the SEC sanctioned eight firms, including Cetera Financial Group, Cambridge Investment Research and KMS FinancialServices, for deficient cybersecurity policies and procedures, which resulted in the exposure of their clients’ personal information. Want to learn more?
The future of finance is being reshaped by blockchain technology. This revolutionary technology has the potential to revolutionize how people and businesses interact with money, from offering greater transparency and better security to faster speeds and lower costs.
Director of Infrastructure Security at FINRA, on the SecureWorld webcast Mitigate Insider Risk in Financial Firms. 4 key findings of insider threats in the financialservices sector. That was interesting that all the technology that we have didn't catch the majority of these insider threats.
IoT and Machine Identity Management in FinancialServices. How is IoT changing the financial sector? IoT has already positively impacted the financial sector and will only continue to in the future. IoT has also transformed the financialservices sector in a variety of ways: Real-time data. brooke.crothers.
FinancialServices Organizations Need to Adapt their Security Practices to the Shifting Environment. businesses are taking advantage of digital technologies like cloud, mobile, and IoT to digitally transform their operations. At the same time, financialservices organizations need to adapt to a shifting global environment.
Financialservices continue to lead in cybersecurity preparedness, but chinks appear in the armor. It highlights the leadership of financialservices in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor. Thu, 09/01/2022 - 05:15.
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