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cyber security

Technology

The Cyber Hiring Gap: What Does It Mean for Financial Risk Managers?

Financial institutions have steadily increased their reliance on technology in recent years, a trend accelerated by the pandemic and the spike in remote work. As this digital dependence increases,...

April 1, 2022 | By Tod Ginnis

Technology

The Cybersecurity Playbook for 2022 and Beyond

After two years of battling the coronavirus, many health experts believe the crisis will recede only when COVID-19 becomes endemic. In other words, we can’t eliminate the virus, but we can hope to...

February 11, 2022 | By Paul Mee

Technology

Ransomware: Don’t Expect Governments Alone to Save Us

Did you hear about the latest major cybersecurity breach that disabled a public company? “Which one?” you ask.  Take your pick. Cyberattacks are the new weapons of mass destruction for businesses,...

December 17, 2021 | By David X Martin

Technology

Attacking Cryptocurrency Theft: Transaction Databases and Analytics Have Criminals on the Run

A new reality is hitting home with cryptocurrency criminals and changing this category of cyber risk for the better: It has become more difficult to get away with illicit transactions and hold onto...

September 10, 2021 | By Katherine Heires

Technology

Anti-Fraud Technologies Rise to the Occasion

Remote work and the technologies enabling it boomed during the pandemic, and fraudsters got busy - exploiting network vulnerabilities, collecting personal and business data, conducting social...

August 6, 2021 | By Katherine Heires

Technology

Stemming the Tide: How to Identify and Mitigate Pandemic-Era Cyber Threats

COVID-19 has set structural and technological changes in motion, creating new cyber risk and security challenges that will likely endure even after the pandemic ends. There is no shortage of...

January 15, 2021 | By Christopher Hetner

Technology

At Pandemic Year's End, a Severe Cyber Strike

A “cyber Pearl Harbor” scenario has haunted the technology world since then-U.S. Defense Secretary Leon Panetta presented it in 2012. The massive SolarWinds breach that came to light in December 2020...

January 8, 2021 | By Jeffrey Kutler

Technology

Cyber Volatility: How Regulators and Banks Are Responding to a Surge in Cybercrime

Every year, cybercrime becomes cheaper, easier, and faster, making a variety of companies - including banks - more vulnerable to attacks than ever before. Damages from cybercrime are projected to...

November 6, 2020 | By Christopher Hetner

Technology

A Faraway (for Most) Cyber Attack Renews Financial Market Concerns

Operationally speaking, 2020 has been a banner year for exchanges and financial market infrastructures. The World Federation of Exchanges (WFE) said value and volume traded worldwide set records in...

October 16, 2020 | By Jeffrey Kutler

Technology

Accelerating Digitization Exposes Persisting Weaknesses in Identity Protections

The much touted digital transformation of business, finance and the economy is well underway, judging by how readily people and organizations adjusted to new working and distancing conditions...

September 25, 2020 | By Katherine Heires

Technology

Force Multipliers for an Endless War

There is nothing simple about cyber warfare, but, for the sake of argument, think of it as boiling down to two opposing sides. On the offensive are those that break through defenses stealthily and...

August 7, 2020 | By Jeffrey Kutler

Technology

Microsoft Is Piecing Together Desktop-to-Cloud Cybersecurity

Cybersecurity threats are so numerous, technically challenging and constantly evolving that technology companies are rarely so bold as to claim they have an all-encompassing solution. Large...

April 9, 2020 | By John Hintze

Technology

Confidence in Cybersecurity Grows at the Board Level

Members of corporate boards are expressing growing confidence in their organizations' cybersecurity. According to the National Association of Corporate Directors (NACD) 2019-20 Public Company...

January 31, 2020 | By Ted Knutson

Technology

Effective Cybersecurity Is 'Adaptive and Layered'

It is important to stay abreast of the latest attack schemes - see The Year's Top Attack Vectors: Review and Prepare - and frequently re-evaluate your security posture in light of any new...

November 22, 2019 | By Marcus Chung

Technology

The Year's Top Attack Vectors: Review and Prepare

Cyber attacks are rapidly evolving and ever-more concerning. The success of WannaCry, NotPetya, GandCrab and others have inspired a new generation of hackers looking for a quick, lucrative score....

November 8, 2019 | By Marcus Chung

Technology

Mitigating Cyber Security Threats: A Risk-Based Approach

Business continuity and security threats are the greatest risks a financial institution faces when choosing a vendor for an information and communication technology (ICT) service. This is especially...

October 25, 2019 | By Andrea Giacchero and Jacopo Moretti

Technology

The Cyber Insurance Gap Is Closing

If insurance has a place in risk mitigation strategy, then it should naturally extend into cyber risk management. But, to many, cyber insurance remains a puzzlement. A bare majority - 51% - of...

October 25, 2019 | By Ted Knutson

Technology

A New Vision for Cybersecurity

Cyber risk is a continuously evolving, complex phenomenon that requires a new risk management approach. We are now at a turning point, facing the intersection of several simultaneous cybersecurity...

August 2, 2019 | By Andrea Giacchero and Jacopo Moretti

Technology

A Cyber Threat to Financial Stability

In January 2015, at a Bank for International Settlements (BIS) forum in South Africa, Federal Reserve Bank of Boston president Eric Rosengren spoke on the subject of Cyber Security and Financial...

July 12, 2019 | By Ted Knutson

Technology

Leveraging Artificial Intelligence to Detect and Minimize Data-Loss Threats

Executive Summary This article outlines at a high level how artificial intelligence (AI) can help organizations proactively detect data breaches in their earliest stages, in order to prevent them...

June 7, 2019 | By Anju Chopra, Heather Williams and Eric Nyberg

Technology

Ransomware Terrorism: Should We Be Worried?

The threat of ransomware being used as a highly effective form of cyber terrorism has been receiving a lot of media attention lately. The storyline stems from a Lloyds of London report which boldly...

June 7, 2019 | By Marcus Chung

Technology

Slippage in the Cyber Arms Race

Awareness of cybersecurity threats, and actions being taken against them, are on the rise - but that hasn't stemmed the tide of cyber attacks and their financial toll. Companies therefore appear to...

May 31, 2019 | By Juliette Fairley

Technology

Financial Services Mobile Apps Are Riddled with Security Flaws

Cybersecurity risks are hardly uncommon, but there is an abundance in the world of mobile apps - and especially those provided by retail banks, brokerages and auto insurers and readily downloadable...

April 26, 2019 | By Katherine Heires

Technology

Survey Indicates Need for Stronger Cyber-Risk Response

Financial services C-suite interest in cybersecurity, while on the rise, doesn't always translate to on-the-ground action, the National Society of Compliance Professionals (NSCP) says. A recently...

March 29, 2019 | By Ted Knutson

Technology

As Mobile Activity Grows, So Do Cyber Attacks

Sixty-seven percent of financial service transactions - including online banking, money transfers, and stock trades - now come from mobile devices. That has grown 13% year-over-year, according to...

March 22, 2019 | By Katherine Heires

Technology

NACD Calls In a Cyber Risk Adviser

With board governance newly challenged by cybersecurity issues, the National Association of Corporate Directors is turning to Christopher Hetner as its special adviser for cyber risk. “The days for...

March 15, 2019 | By Ted Knutson

Technology

Preparing for SEC Cyber Compliance

Cybersecurity continues to be a primary focus area for the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE), as indicated in their 2019 examination...

February 15, 2019 | By Askari Foy

Technology

Cyber Threats Are Recognized, but Are Companies Prepared?

Although cyber threats are universally regarded as pervasive and even existential, Michael Daugherty believes that many businesses are not well organized to manage the risks. He has founded the Cyber...

January 11, 2019 | By Ted Knutson

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