Security News
New York-based global financial technology firm EquiLend says its operations have been disrupted after some systems were taken offline in a Monday cyberattack."On January 22, 2024, EquiLend identified a technical issue that placed portions of our systems offline," an EquiLend spokesperson told BleepingComputer today.
Orbit Chain has experienced a security breach that has resulted in a loss of $86 million in cryptocurrency, particularly Ether, Dai, Tether, and USD Coin. Orbit Chain is a blockchain platform designed to function as a multi-asset hub, supporting interoperability between various blockchains, decentralized applications, and services.
The fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A payments having a major impact on business models, according to Juniper Research. The fintech markets is moving into a phase where innovation for innovation's sake is no longer a viable strategy.
Bank-fintech partnerships continue to rise as financial institutions look to streamline operations, improve customer experiences, drive profitability, and manage risk and compliance efforts. The guidance promotes standardization for assessing third-party risk and describes sound risk management principles when developing and implementing third-party risk management practices.
A New York fintech biz is set to pay $1 million in fines under a US Securities and Exchange Commission order that claims it advertised "Annualized" returns on Titan Crypto of up to 2,700 percent, a number based on a "Purely hypothetical account." Titan Global Capital Management provided investment strategies to clients and prospective clients solely through a mobile app, the SEC said.
Latitude Financial has blamed a supplier for leaking creds that caused vast PII leak Australian outfit Latitude Financial has taken itself offline, and even stopped serving customers, while it tries to clean up an attack on its systems. Latitude said the attack on the vendor exposed credentials of its staff, which were used to log on to two other service providers it uses for matter such as identity verification.
92% of the most popular banking and financial services apps contain easy-to-extract secrets and vulnerabilities that can let attackers steal consumer data and finances, according to Approov. 92% of the apps leaked valuable, exploitable secrets and 23% of the apps leaked extremely sensitive secrets.
In Q1 of 2022, fintech companies experienced 2.5 times more attacks than in the two previous years. The growing rate of cybercrime has added to the market unrest and questioned fintech preparedness; some claimed that the industry players are more susceptible to virtual threats than traditional banking, with greater resources at their disposal.
In Q1 of 2022, fintech companies experienced 2.5 times more attacks than in the two previous years. The growing rate of cybercrime has added to the market unrest and questioned fintech preparedness; some claimed that the industry players are more susceptible to virtual threats than traditional banking, with greater resources at their disposal.
VMware released a report which takes the pulse of the financial industry's top CISOs and security leaders on the changing behavior of cybercriminal cartels and the defensive shift of the financial sector. The report found that financial institutions are facing increased destructive attacks and falling victim to ransomware more than in years' past, as sophisticated cybercrime cartels evolve beyond wire transfer fraud to now target market strategies, take over brokerage accounts and island hop into banks.