Security News
Cybersecurity vulnerabilities among credit unions and their vendors create the potential for large financial impacts to the credit union industry, according to a Black Kite report. The research analyzed the cybersecurity posture of 250 NCUA credit unions and 150 vendors commonly used by credit unions.
A new phishing scam is on the rise, targeting executives in the insurance and financial services industries to harvest their Microsoft 365 credentials and launch business email compromise attacks, according to a new report from Area 1 Security. These new, sophisticated attacks are aimed at C-suite executives, their assistants and financial departments, and can work around email security and Office 365 defenses.
A sophisticated and highly targeted Microsoft Office 365 phishing campaign is being aimed at C-suite executives, executive assistants and financial departments across numerous industries. The threat actors are leveraging phishing kits and a number of sophisticated methods at every step of the attack.
In its 10th annual Risk Barometer, Allianz found that cyber incidents ranked third in a list of the most important global business risks for the upcoming year, coming in second behind risks stemming from the pandemic itself. A recent survey of 100 senior security professionals found that 70% of respondents have received pressure to produce cyber risk quantification for their business.
70% of financial services organizations are taking a strategic approach to identity verification to combat financial crime and stay one step ahead of fraudsters according to Trulioo. "The increase in fraudulent activity as a result of the pandemic isn't the sole driver for the change in how financial services companies approach identity verification, but it's a situation that has endorsed a 'front-foot' approach", said Zac Cohen, COO, Trulioo.
Sontiq announced it has acquired data breach intelligence fintech Breach Clarity. As a result of the acquisition, Sontiq's products - IdentityForce, Cyberscout, and EZShield - all built on its tech-enabled IIS Platform, will have the proprietary capability, BreachIQ. Sontiq is the first provider in the identity security marketplace to offer consumers an AI-driven and proprietary personalized risk score with actionable next steps based on their unique data breach history.
In this role, Ms. Beckham will oversee all financial operations while working closely with our leadership team to support Cyber Defense Labs' business strategy and anticipated growth. Ms. Beckham brings a proven track record of success in leading all aspects of corporate finance with strong expertise in financial management, budgeting and forecasting, risk mitigation, cost controls and strategic planning.
Account takeovers and online banking fraud are two types of attacks on the rise against financial institutions and their customers, says Feedzai. Amid the coronavirus pandemic, 2020 saw a quick and abrupt transition to digital banking and commerce, a boon for banks and customers alike.
BBVA and Google Cloud announced a new strategic partnership to transform the bank's security strategy by optimizing and improving its security infrastructure. BBVA is the first bank in Europe to deploy Chronicle, Google Cloud's security analytics platform that allows teams to store and analyze all their security data in one place to detect and investigate threats at scale.
Fusion Risk Management announced it has recorded several significant client wins among multinational and global investment banks to start the calendar year as the company continues to expand its footprint in the financial services sector. More than 20 top financial services providers have selected the Fusion Framework System to drive their operational resilience efforts in the past year.