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Gaining Insight Into the Ponemon Institute’s 2020 Cost of Insider Threats Report

Today, I’m pleased to share some of the key findings from the 2020 Cost of Insider Threats Global Report. This is the third benchmark study, independently sponsored by IBM Security and ObserveIT to help understand the direct and indirect costs that result from insider threats. The first study was conducted in 2016 and focused exclusively on companies i
Publish At:2020-02-09 10:30 | Read:463 | Comments:0 | Tags:CISO Security Services Access Management Breach Credentials

Open Banking Is Here — Is Your Bank Positioned to Lead?

Banking is set to significantly change as Payment System Directive 2 (PSD2) regulations are introduced across Europe. In fact, open banking regulations are being considered in a number of regions around the world. The directives will require financial institutions to adopt open banking by safely and securely allowing customers to view account information and
Publish At:2017-11-01 18:45 | Read:6235 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Risk Managemen

Ursnif Campaign Waves Breaking on Japanese Shores

According to IBM X-Force data on the activity of financial malware operated by organized cybercrime groups, the Ursnif (aka Gozi) banking Trojan was the most active malware code in the financial sector in 2016 and has maintained its dominance through 2017 to date. Ursnif’s activity is marked by both frequent code modifications and campaign activity in
Publish At:2017-10-26 19:35 | Read:5221 | Comments:0 | Tags:Banking & Financial Services Malware Threat Intelligence Ban

Financial Institutions Join Forces to Solve the Intensifying Cloud Compliance Dilemma

The intensifying regulation of cloud services has become a major threat to financial institutions’ growth and innovation. An overwhelming number of regional and jurisdictional mandates aimed at ensuring cloud security, data protection and privacy are consuming company resources. Compliance with these evolving and often conflicting regulatory demands ha
Publish At:2017-10-26 19:35 | Read:5514 | Comments:0 | Tags:Banking & Financial Services Cloud Security Cloud Cloud Serv

Vulnerabilities Across Verticals: Overcoming Industry-Specific Security Challenges

Every chief information security officer (CISO) faces ongoing threats to his or her company’s assets. While some threats apply to every industry, IT security specialists in the health care, financial services, and energy and utilities sectors need to pay more attention to industry-specific security risks. Although these threats are most prevalent in th
Publish At:2017-09-26 09:56 | Read:3429 | Comments:0 | Tags:Banking & Financial Services CISO Energy & Utility Health Ca

Building Digital Trust, One Blockchain at a Time

Since it first appeared in 2009, the bitcoin network has grown significantly. The digital currency’s recent surge in value has sparked discussions within the security space about the benefits of blockchain, a technology that promotes the type of trust that is sorely lacking in some digital transactions. Today, people are exchanging real money for cryp
Publish At:2017-09-22 13:40 | Read:4054 | Comments:0 | Tags:Banking & Financial Services Authentication Bitcoin Blockcha

IBM Experts Weigh In on the Value of an Industry-Focused Approach to Security

To more closely align with the way clients think about security, IBM Security is focused on providing an open security immune system that enables organizations to integrate and leverage the investments they have already made within their specific industry. Experts Discuss the Benefits of an Industry-Focused Security Strategy We consulted six experts from the
Publish At:2017-08-30 20:10 | Read:5482 | Comments:0 | Tags:Industries Automotive Industry Cloud Cloud Security Energy a

Fighting Financial Fraud in an Increasingly Digital World

Everywhere we look, we see some form of digital technology. People have access to computers, cellphones, televisions and even Wi-Fi-enabled smart appliances. Technology advances every day, giving way to exciting, innovative and life-changing experiences. Take cellphones, for example. Not too long ago, cellphones were a luxury. They were used simply to call p
Publish At:2017-08-22 09:30 | Read:4769 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Financial Frau

Connecting Fintech Security Perceptions to Reality

The fintech industry is changing due to both internal forces and external demands. Both financial institutions and their customers are wary of changes that can affect security and, therefore, the state of their money. Financial industry chief information security officers (CISOs) need to be aware of these key trends and understand how they affect their busi
Publish At:2017-07-18 13:40 | Read:3892 | Comments:0 | Tags:Banking & Financial Services CISO Blockchain Chief Informati

Financial Sector Remains a Top Target in 2017

It should come as no surprise that the financial sector is the top target for cybercriminals year after year. After all, money does make the world go ’round. What is more surprising, though, is fraudsters’ continued success. In 2016, we saw an influx in point-of-sale (POS) attacks, ATM jackpotting and SWIFT transaction manipulation. According t
Publish At:2017-06-12 12:11 | Read:4164 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Cybercrime Dis

QakBot Banking Trojan Causes Massive Active Directory Lockouts

IBM X-Force Research recently observed a wave of malware-induced Active Directory (AD) lockouts across several incident response engagements. The lockouts caused hundreds to thousands of AD users to get locked out of their company’s domain in rapid succession, leaving employees of the impacted organizations unable to access their endpoints, company ser
Publish At:2017-06-03 00:15 | Read:8143 | Comments:0 | Tags:Advanced Threats Incident Response Threat Intelligence Banki

GootKit Malvertising Brings Redirection Attacks to Italian Banks

Earlier in May, I reported that GootKit had launched redirection attacks for the first time. The malware prepared for its new modus operandi in the U.K., targeting major banks there with this advanced browsing manipulation attack. I also predicted that this was just a test and that we’re about to see more. That prediction has come true. GootKit officia
Publish At:2017-05-24 00:45 | Read:5326 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Malware Threat

Is It Really Safe for FSS Firms to Utilize Hybrid Cloud Services?

The financial services sector (FSS) is accelerating the adoption of cloud. According to a 451 Research survey, financial companies are adopting hybrid cloud services as a core part of their technology and infrastructure strategies. Hybrid cloud is defined as a cloud computing environment that utilizes a mixture of on-premises private cloud and third-party p
Publish At:2017-04-28 14:00 | Read:3941 | Comments:0 | Tags:Banking & Financial Services Cloud Security Cloud Compliance

A Magnet for Cybercrime: Financial Services Sector

As revealed in the 2017 IBM X-Force Threat Intelligence Index, the financial services sector was attacked more than any other industry last year. The average financial services client organization monitored by IBM Security Services experienced 65 percent more attacks than the average client organization across all industries (see Figure 1). Moreover, 2016 sa
Publish At:2017-04-27 19:35 | Read:4664 | Comments:0 | Tags:Advanced Threats Banking & Financial Services Threat Intelli

The Changing Fintech Landscape in Asia-Pacific and Its Security Implications

The definition of fintech, or financial technology, has grown in leaps and bounds thanks to all the disruption it has brought. Any services, aside from mainstream banking and financial tools, that aim to improve personal or commercial finance through innovation, education, banking, investment, payment, advisory or blockchain can be classified as subsets of
Publish At:2017-03-28 07:25 | Read:5187 | Comments:0 | Tags:Banking & Financial Services Blockchain Financial Industry F


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