The European Council on Tuesday introduced a new sanctions framework to target Russian nationals and organizations engaged in malicious cyber activities such as election misinformation and disruptive cyberattacks. It seeks to address activities such as influence operations and hacking.
MoneyGram Payment Systems, a Dallas-based money transfer system, said hackers who hit its infrastructure last month stole customer data, including contact details, Social Security numbers and information pertaining to criminal fraud investigations.
Research shows that financial institutions are struggling to manage and secure access to a growing number of identities, leading to breaches and compliance risk.
Some highlights from the infographic include:
Key findings and insight from the 2024 State of Identity Security in Financial Services Report;
Alarming...
As the threat and regulatory landscapes continue to evolve for financial services, addressing identity and third-party risks has become more critical than ever.
Download this e-book to learn more on:
How providing provisioning access manually wastes time;
How to reduce third-party risk and protect sensitive PII...
DORA (Digital Operational Resilience Act) will require financial services entities and third-party information communication and technology (ICT) providers operating in the EU to comply with new technical requirements and rules, designed to help organisations withstand and recover from cyber events and technical...
In an interview with ISMG as part of CyberEdBoard's ongoing Profiles in Leadership series, Arijit Chakraborty, vice president of security at Societe Generale Global Solution Center, discussed CISO priorities, keeping up with an evolving threat landscape and AI's impact on the cybersecurity industry.
Visa has signed a definitive agreement to acquire AI-driven fraud prevention leader Featurespace. This acquisition will reinforce Visa's fraud detection capabilities, integrating advanced machine learning technology to strengthen financial crime prevention and protect global transactions.
Fake paystub generators and unscrupulous businesses have made it easy for fraudsters to exploit outdated employment and income verification systems that account for $3.6 billion in losses for auto lenders alone, but AI-driven solutions are emerging as a game-changing defense.
Despite high-profile acquisitions in the space, pure-play threat intelligence firms still have a future in the marketplace, but they need to offer specialized intelligence capabilities that cyber defense teams can't find elsewhere, said Forrester analyst Brian Wrozek.
Mastercard's proposed purchase of Recorded Future for $2.65 billion will bring advanced threat intelligence into its payment systems. EVP Johan Gerber explains how this move improves fraud detection and prevention and strengthens Mastercard's cybersecurity in an evolving digital payments landscape.
Technology and security leaders convened at CIO.inc's Cloud and AI Innovation Summit to discuss cloud-driven innovation and AI adoption strategies. The event explored the advantages and risks of cloud and AI adoption and how organizations are using platforms to fuel growth.
The U.K. Payment Systems Regulator wants to reduce the reimbursement cap on authorized push payment fraud to ease the burden on smaller banks. That's unacceptable and would undermine the financial system's integrity, said Jonathan Frost, board member at the Stop Scams Alliance.
Geopolitical tensions have heightened cross-border fraud, with criminals exploiting technological advances and regulatory gaps between countries. Shilpa Arora, head of anti-financial crime products at ACAMS, discusses ways banks can tackle cross-border fraud schemes.
Countries throughout APAC are rapidly expanding digital payment ecosystems and embracing digital change for greater convenience and financial inclusion. But the region has become a hotbed for fraudsters who are exploiting these same technologies. SIM swap fraud and QR code scams are up 15%.
IT concentration risk could pose major problems for financial institutions that rely heavily on one vendor for critical services. United Overseas Bank's Gaurav Gupta recommends CIOs hold vendors accountable for resilience and look for ways to diversify to ensure business continuity.
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