cyber security


After a Cyberattack, Assigning Blame Can Get Personal

In the aftermath of a cyberattack, analysts seek to identify its cause or source in a task known as attribution. With assistance from government agencies and other threat intelligence, many of...

June 7, 2024 | By Jim Romeo


A Persistent and Systemic Threat Is Also a Common Thread

It is a sign of the times that wherever business leaders gather, conversations converge on artificial intelligence. The subject came up countless times during the recent Milken Institute Global...

May 31, 2024 | By Jeffrey Kutler


Five Ways to Strengthen Third-Party Cyber Risk Management – and Get Past Common Misperceptions

With financial institutions (FIs) increasingly reliant on third-party services to drive revenue, cyber criminals have identified new and creative tactics that successfully penetrate highly...

May 24, 2024 | By Gabie Lang and Elena Khoroshun


AI Rears Its Head as a Cyber Threat

Having sensitized the business and financial worlds and government overseers to risks including bias and data manipulation, privacy and intellectual property violations, hallucinations and model...

May 3, 2024 | By David Weldon


Updated U.S. Cyber Guidelines Place Emphasis on Risk Governance

The National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF), which for nearly a decade has guided finance and other critical infrastructures’ preparedness for and...

December 1, 2023 | By David Weldon


Combating Cybercrime in the Age of Remote Work

The increase in remote and hybrid work since the COVID-19 pandemic has revolutionized the way that companies operate. It has also introduced a new array of cybersecurity threats. There are more weak...

November 22, 2023 | By Dimitri Shelest


The Constantly Evolving Cyber Threat Landscape: Current Lessons for CISOs

Cybersecurity remains a top priority for executives across multiple industries, as threats continue to rise in volume and frequency – thereby increasing the risk businesses face. As the threat...

November 3, 2023 | By Aaron Pinnick


Unmasking Gray Actors: How to Spot and Stop a Costly Wave of Fraudulent Behavior

A new breed of cybercriminals has emerged in the online realm. Known as gray actors, they pose a significant challenge for online fraud prevention specialists and businesses, increasingly targeting...

October 6, 2023 | By Tamas Kadar


Behavioral Biometrics: A Safe Middle Ground for the Fight Against Financial Fraud?

The search for stronger security and identity safeguards has made multi-factor authentication commonplace. Those additional layers of verification beyond passwords can include biometrics, based on...

September 22, 2023 | By Jim Romeo


An Overlooked Element of Executive Safety: Data Privacy

Companies go to great lengths to protect their top executives. Keeping them safe, healthy and happy so they can perform their duties without unnecessary distractions is critical for the productivity...

September 8, 2023 | By Dimitri Shelest


Banks Have a Better Grip on Online Fraud, but the Threats Persist

Let’s start with the good news. Fresh data shows that 65% of companies experienced fraud in 2023. That’s the lowest the figure has been since 2014. That is largely supported by the fact that 45% of...

August 11, 2023 | By Jimmy Fong


Four Hurdles of the EU’s Digital Operational Resilience Act

In the age where cyber attacks and other types of business disruptions are the norm rather than the exception, operational resilience has become a key focus of regulators to ensure financial firms of...

August 4, 2023 | By Taylor Broshar and Aaron Pinnick


Extensive Cybersecurity Rules Are Pending at the SEC

Amid ever-growing cybersecurity threats, regulatory agencies have been ratcheting up their concerns through examination priorities and other policy prescriptions. The U.S. Securities and Exchange...

July 14, 2023 | By John Hintze


How the Cyber Risk Landscape Changed in 2022 – and What’s in Store for 2023

From Log4J to the Russian invasion of Ukraine, the events of 2022 have demonstrated that cyber incidents are a very real threat to the functioning of critical services and need to be taken seriously....

January 13, 2023 | By Bob Kolasky


Beyond Deepfakes: Synthetic Fraud’s Next Alarming Evolution

“Deepfakes,” near-perfect but synthetic still images or video footage created with the intention of impersonating an individual’s identity, have gained recent notoriety. They are a type of synthetic...

September 30, 2022 | By Martin Rehak


Will the ‘Systemically Important’ Club Become Less Exclusive?

The “systemically important” label, attached to an elite group of banks as a result of post-financial-crisis regulatory reforms, may soon be applicable to U.S. critical-infrastructure industries in...

August 19, 2022 | By Jeffrey Kutler


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


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


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, and...

December 17, 2021 | By David X Martin


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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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