Collaborate Disseminate
One in three organizations are not currently able to proactively identify, assess, and mitigate risk with their GRC program, nor are they able to ensure compliance with regulations and frameworks – both key aspects of a mature, holistic GRC progr… Continue reading Effective GRC programs rely on team collaboration
The Securities and Exchange Commission (SEC) announced the adoption of amendments to Regulation S-P to modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions. The amendme… Continue reading SEC requires financial institutions to notify customers of breaches within 30 days
Due to the cybersecurity disclosure rules the Securities and Exchange Commission (SEC) has adopted in 2023, public entities in the US are required to disclose any material cybersecurity incidents. Moving forward, these organizations will need in-depth … Continue reading The challenges of GenAI in fintech
Though generative AI offers financial firms remarkable business and cybersecurity utility, cyberthreats relating to GenAI in financial services are a consistent concern, according to FS-ISAC. Cybercriminals exploit AI for data exfiltration The cybersec… Continue reading AI abuse and misinformation campaigns threaten financial institutions
In this Help Net Security interview, Jean-Philippe Aumasson, CSO at Taurus, emphasizes the often-overlooked complexities of key generation, storage, and distribution, underlining the necessity for a high level of security maturity in handling digital a… Continue reading Beyond blockchain: Strategies for seamless digital asset integration
91% of banks and insurance companies have now initiated their cloud journey, a significant increase from 2020, when only 37% of firms had embarked on their cloud transformations, according to Capgemini. However, this high rate and its corresponding inv… Continue reading Data security and cost are key cloud adoption challenges for financial industry
The fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A (Account-to-Account) payments having a major impact on business models, according to Juniper Research. This is combined with … Continue reading Rising fintech trends for 2024: From A2A payments to GenAI in banking
Mortgage company Mr. Cooper has confirmed that personal information of over 14.6 million customers has been exposed in its October 2023 data breach. The breach “On October 31, 2023, Mr. Cooper detected suspicious activity in certain network syste… Continue reading Mr. Cooper breach exposes sensitive info of over 14 million customers
The state-owned Industrial and Commercial Bank of China (ICBC), which is one of the largest banks in the world, has been hit by a ransomware attack that led to disrupted trades in the US Treasury market. The attack “On November 8, 2023, U.S. East… Continue reading Chinese multinational bank hit by ransomware
The security performance of financial applications generally outperforms other industries, with automation, targeted security training, and scanning via Application Programming Interface (API) contributing to a year-over-year reduction in the percentag… Continue reading Financial organizations embrace automation for enhanced security