Security News
One-third of financial services organizations lack a clear plan or the resources to address privacy risks related to customer data in the next 12 months, according to a report by Accenture. It focuses on how companies should rethink how they use, store and protect customer data as recently implemented regulations, including the General Data Protection Regulation and the California Consumer Privacy Act, give consumers explicit privacy rights.
Researchers say two financial services companies have exposed over 500,000 sensitive legal and financial documents by storing them in an unprotected AWS S3 bucket. VpnMentor's research team discovered the exposed database in December 2019.
Datto, the leading global provider of cloud-based software and technology solutions delivered through managed service providers, announced that John F. Abbot has joined its executive management team as Chief Financial Officer, effective March 2, 2020. In his role, Abbot will work closely with Datto's senior executive team and its board of directors, driving key processes and systems to enable the business to maintain close touch with MSPs, and he will oversee all global aspects of Datto's financial and accounting operations.
Cybercriminals are now partnering with drug cartels across Latin America to attack financial institutions and governments, leveraging a wide variety of scams and malware to make millions, according to a new report from cybersecurity firm IntSights. Mexican law enforcement arrested Héctor Ortiz Solares-known as "El H-1" or "Bandido Boss"-in 2019 after he spent years recruiting top-tier hackers who built malware for his gang, named "Bandidos Revolution Team." The malware was designed to infect ATM machines and attack Latin American banks.
Britain's Financial Conduct Authority on Tuesday admitted to a data breach, in an embarrassing revelation for the regulator and its boss, who shortly takes over at the Bank of England. The FCA said it had mistakenly published the details of around 1,600 consumers who had complained about the regulator, which is tasked with overseeing the conduct of Britain's key financial sector, including any data breaches by banks for example.
With security as the guiding factor, financial services companies are ahead of all other industries in deploying hybrid clouds, but they lag behind others in their use of multi-public cloud services, according to a newly-released report. SEE: Hybrid cloud: A guide for IT pros The report was focused on cloud deployments and planning trends in the financial services industry.
As advanced as security is in the financial industry, clearly there's still some catching up to do. Another big problem is simply the range of motivations for attacking large financial services companies.
According to data from Akamai, up to 75% of all credential abuse attacks against the financial services industry targeted APIs directly. According to the report's findings, from December 2017 through November 2019, 85,422,079,109 credential abuse attacks were observed.
IDShield, a leading North American provider of identity monitoring, theft protection, and restoration technology and services for individuals and families, announced a service enhancement that will protect its members from unauthorized electronic fund transfers from their employer-sponsored 401K, retirement, and health savings accounts. According to recent reports by Investment Company Institute and Devenir respectively, nearly $6 trillion is sitting in employer-sponsored 401K accounts and almost $75 billion in Healthcare Savings Accounts.
Elevate Security, a platform that measures, influences, and reduces human cybersecurity risk, announced the appointment of Nicholas Telford as chief financial officer. Telford will oversee Elevate Security's long-term financial strategy, providing oversight and a roadmap to the organization's growth plan.