Category Archives: Banking & Finance

What Do Financial Institutions Need to Know About the SEC’s Proposed Cybersecurity Rules?

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On March 9, the U.S. Securities and Exchange Commission (SEC) announced a new set of proposed rules for cybersecurity risk management, strategy and incident disclosure for public companies. One intent of the rule changes is to provide “consistent, comparable and decision-useful” information to investors. Not yet adopted, these new rules – published in the Federal […]

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New DOJ Team Focuses on Ransomware and Cryptocurrency Crime

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While no security officer would rely on this alone, it’s good to know the U.S. Department of Justice is increasing efforts to fight cyber crime. According to a recent address in Munich by Deputy Attorney General Lisa Monaco, new efforts will focus on ransomware and cryptocurrency incidents. This makes sense since the X-Force Threat Intelligence […]

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SEC Proposes New Cybersecurity Rules for Financial Services

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Proposed new policies from the Securities and Exchange Commission (SEC) could spell changes for how financial services firms handle cybersecurity. On Feb. 9, the SEC voted to propose cybersecurity risk management policies for registered investment advisers, registered investment companies and business development companies (funds). Next, the proposal will go through a public comment period until […]

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Top Security Concerns When Accepting Crypto Payment

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From Microsoft to AT&T to Home Depot, more companies are accepting cryptocurrency as a way to pay for products and services. This makes perfect sense as crypto coins are a viable revenue source. Perhaps the time is ripe for businesses to learn how to receive, process and convert crypto payments into fiat currency. Still, many […]

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2022 Banking & Finance Security Intelligence Roundup

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The banking and finance industries deliver more services online now than ever before due to the pandemic. As a result, banking cybersecurity became more important than ever this year. Some of the threats to big data security in recent years included ransomware attacks, the growth of contactless payments, mobile malware attacks and even data breaches […]

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TrickBot Bolsters Layered Defenses to Prevent Injection Research

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This post was written with contributions from IBM X-Force’s Limor Kessem and Charlotte Hammond. The cyber crime gang that operates the TrickBot Trojan, as well as other malware and ransomware attacks, has been escalating activity. As part of that escalation, malware injections have been fitted with added protection to keep researchers out and get through […]

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BrazKing Android Malware Upgraded and Targeting Brazilian Banks

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Nethanella Messer and James Kilner contributed to the technical editing of this blog. IBM Trusteer researchers continually analyze financial fraud attacks in the online realms. In recent research into mobile banking malware, we delved into the BrazKing malware’s inner workings following a sample found by MalwareHunterTeam. BrazKing is an Android banking Trojan from the overlay […]

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Using Open-Source Intelligence for Mergers and Acquisitions

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Mergers and acquisitions (M&A) have been challenging for IT and security teams for as long as businesses have relied on technology. Every company’s IT system is as unique as the company itself. Your business may run on commonly used tools and apps, and industry best practices to deploy and configure them. Nevertheless, these systems get […]

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Banking and Finance Data Breaches: Costs, Risks and More To Know

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As each year passes, cybersecurity becomes more important for businesses and agencies of every size, in nearly every industry. In 2020, ransomware cases grew by 150%, and every 39 seconds, a new attack is launched somewhere on the web. A data breach also causes rising costs in banking and finance. What Happens in a Banking […]

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Supply Chain Attack: What It Is (and What to Do About It)

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The past two years have delivered major disruptions for supply chains. The pandemic pushed supply chain attack issues front-and-center, with disruptions up 67% in 2020 and problems expected to persist as global markets adjust to ‘new normal’ operations. Increasing reliance on digital supply solutions, however, has also set the stage for increasing supply chain attacks. […]

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