Collaborate Disseminate
By giving the public greater control over their banking data, the Consumer Financial Protection Bureau’s proposal would deal a blow to data brokers.
The post CFPB’s proposed data rules would improve security, privacy and competition appeared first on CyberScoop.
Continue reading CFPB’s proposed data rules would improve security, privacy and competition
According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, 15% more than in 2020. In response, 51% of organizations plan to increase cybersecurity spending this year. For the financial industry, however, global statistics don’t tell the whole story. Finance firms […]
The post Cost of a data breach 2023: Financial industry impacts appeared first on Security Intelligence.
Continue reading Cost of a data breach 2023: Financial industry impacts
Data breach costs continue to grow, according to new research, reaching a record-high global average of $4.45 million, representing a 15% increase over three years. Costs in the healthcare industry continued to top the charts, as the most expensive industry for the 13th year in a row. Yet as breach costs continue to climb, the […]
The post What’s new in the 2023 Cost of a Data Breach report appeared first on Security Intelligence.
Continue reading What’s new in the 2023 Cost of a Data Breach report
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 […]
The post SEC Proposes New Cybersecurity Rules for Financial Services appeared first on Security Intelligence.
Continue reading SEC Proposes New Cybersecurity Rules for Financial Services
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 […]
The post 2022 Banking & Finance Security Intelligence Roundup appeared first on Security Intelligence.
Continue reading 2022 Banking & Finance Security Intelligence Roundup
Robinhood, a popular stock-trading app, said that it has been breached by someone who accessed information on 7 million people, then sought to extort the company. The breach on Nov. 3 provided access to 5 million email addresses and 2 million full names, with another approximately 310 having additional information like zip codes and dates of birth exposed. Around 10 more had “more extensive account details” exposed, the company announced on Monday. Robinhood has become a force in the financial market, with 18 million clients and $80 billion in assets, a summer filing stated. “Based on our investigation, the attack has been contained and we believe that no Social Security numbers, bank account numbers, or debit card numbers were exposed and that there has been no financial loss to any customers as a result of the incident,” Robinhood’s statement reads. It’s the first notable cyber incident on the company to […]
The post Robinhood breach exposed information on 7 million people appeared first on CyberScoop.
Continue reading Robinhood breach exposed information on 7 million people
Cybercriminals are increasingly targeting third-party infrastructure that restaurants across the U.S. use to place online orders, private investigators have found. The last six months have seen hacks of five online ordering platforms, exposing some 343,000 payment cards, threat intelligence firm Gemini Advisory said on April 29. With titles like MenuSifu and Food Dudes Delivery, the platforms may not be household names, but hundreds of restaurants use the platforms — and crooks know it. The coronavirus pandemic has only heightened criminals’ interest in online payment systems as people order delivery from restaurants in droves. “Attacks such as these are appealing because breaching the website of a single online ordering platform can compromise transactions at dozens or even hundreds of restaurants,” Gemini Advisory analysts wrote in a blog post. One of the breaches tracked by Gemini Advisory saw the attacker use an attack technique known as Magecart, which involves planting malicious code […]
The post Magecart scammers aim at restaurants’ online delivery systems appeared first on CyberScoop.
Continue reading Magecart scammers aim at restaurants’ online delivery systems
Cybercriminals are increasingly targeting third-party infrastructure that restaurants across the U.S. use to place online orders, private investigators have found. The last six months have seen hacks of five online ordering platforms, exposing some 343,000 payment cards, threat intelligence firm Gemini Advisory said on April 29. With titles like MenuSifu and Food Dudes Delivery, the platforms may not be household names, but hundreds of restaurants use the platforms — and crooks know it. The coronavirus pandemic has only heightened criminals’ interest in online payment systems as people order delivery from restaurants in droves. “Attacks such as these are appealing because breaching the website of a single online ordering platform can compromise transactions at dozens or even hundreds of restaurants,” Gemini Advisory analysts wrote in a blog post. One of the breaches tracked by Gemini Advisory saw the attacker use an attack technique known as Magecart, which involves planting malicious code […]
The post Magecart scammers aim at restaurants’ online delivery systems appeared first on CyberScoop.
Continue reading Magecart scammers aim at restaurants’ online delivery systems
It’s common knowledge that threat actors target banks. Not only might these attackers want to directly steal money, by doing this they’re also hitting the customers and the trust in the bank. If a financial institution suffers a loss, even insurance can only go so far to minimize the actual cost to the organization. The cost […]
The post Self-Assessment: How Can You Improve Financial Services Cybersecurity? appeared first on Security Intelligence.
Continue reading Self-Assessment: How Can You Improve Financial Services Cybersecurity?
Security researchers on Tuesday warned of the unrelenting interest that cybercriminals have in exploiting applications made by software giant SAP to defraud or disrupt big businesses that rely on SAP products. A months-long study by Boston-based security firm Onapsis found that malicious hackers are growing more knowledgeable of SAP software and the potential impact that compromises could have on customers. In one case, an unidentified attacker managed to chain together multiple software exploits to target an SAP “credential store,” which stores login details for an organization’s high-value SAP users. Access to the credential store could give a hacker the ability to exploit other applications that interact with those credentials. SAP has 400,000 customers worldwide, including more than half of NATO members. A big swath of the world’ largest public companies use the software to manage their business processes. A critical bug in SAP software could be a ticket for a […]
The post Crooks are getting smarter about exploiting SAP software, study finds appeared first on CyberScoop.
Continue reading Crooks are getting smarter about exploiting SAP software, study finds