More Than 40 Banks Worldwide Hit by Malware Campaign
IT Toolbox
DECEMBER 22, 2023
IBM’s security team first detected the malware campaign in March 2023. The post More Than 40 Banks Worldwide Hit by Malware Campaign appeared first on Spiceworks.
The generative AI revolution is transforming how banks work
CIO Business Intelligence
FEBRUARY 16, 2024
The generative AI revolution has the power to transform how banks operate. Banks are increasingly turning to AI to assist with a wide range of tasks, from customer onboarding to fraud detection and risk regulation. So, as they leap into AI, banks must first ensure that their data is AI-ready. Generative AI, Innovation
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Banking on customer experience and security via technology-based innovation
CIO Business Intelligence
JULY 20, 2023
Since then, automation has filled the gap in improving customer experience and security. Customer experience and security But as in most industries, customer expectations and security challenges continue to grow along with technological advances. Security and privacy.
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The Rise of Crypto: Banks Edge Closer to Ethereum 2.0 Staking
CTOvision
JUNE 30, 2021
staking could be the future of secure banking in the world on Coin Desk : Banks could one day be key participants in Ethereum 2.0. Read Ian Allison explain how Ethereum 2.0
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Your Team's Pragmatic Guide to Security
Speaker: Naresh Soni, CTO, Tsunami XR
The pandemic has led to new data vulnerabilities, and therefore new cyber security threats. As technology leaders, it's time to rethink some of your product security strategy. By understanding the latest threats and their solutions, you can come out of this crisis stronger than ever--without breaking the bank.
FinTech Tools, Security Concerns Top of Mind for Gen-Z Banking
Information Week
SEPTEMBER 8, 2022
Banks and financial institutions are turning to data analytics and AI to help Gen Z with planning and tapping into biometrics to assuage their cybersecurity concerns.
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How Fingerprint Biometrics Enhance Security and Delight Customers for Banks
HID Global
MARCH 5, 2024
Learn how fingerprint biometrics transformed a Singaporean bank's security and improved the customer experience with HID Lumidigm V-Series readers.
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57,000 Bank of America Customers' Data Compromised in Breach
SecureWorld News
FEBRUARY 15, 2024
Bank of America is notifying customers that their personal information was compromised in a data breach impacting Infosys McCamish Systems (IMS), a third-party vendor. According to breach notification letters , the exposed customer data includes names, addresses, Social Security numbers, dates of birth, and financial account details.
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Deutsche Bank extends partnership with Kyndryl for revamp plans
Tech Republic Cloud
OCTOBER 12, 2022
This renewed partnership is intended to accelerate Deutsche Bank’s transformation ambitions by integrating cloud computing, automation and security technologies. The post Deutsche Bank extends partnership with Kyndryl for revamp plans appeared first on TechRepublic.
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Minh Le, former Silicon Valley Bank leader in Seattle, joins Stifel Bank as managing director
GeekWire
APRIL 5, 2023
Minh Le, a longtime Silicon Valley Bank leader in the Seattle region, is joining Stifel Bank. GeekWire File Photo / Todd Bishop) Longtime Seattle-area tech mainstay Minh Le has joined Stifel Bank as managing director, following a 14-year career with Silicon Valley Bank. billion loss related to securities sales.
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It's time for banks to rethink how they secure customer information
Tech Republic Security
NOVEMBER 20, 2020
Jack Wallen thinks banks and credit card companies need to start considering radical ideas to increase their security. In fact, he goes so far as to share such an idea.
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PSD2 Security Requirements Are Restricting Fintech Innovation
Forrester IT
MAY 30, 2019
I have recently released a new report looking at the second phase of the Payment Services Directive (PSD2) and its security requirements along with my colleagues Jacob Morgan and Andras Cser. Banks and financial institutions are currently hard at work building APIs and testing their Strong Customer Authentication (SCA) solutions.
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First Citizens Bank is buying Silicon Valley Bank’s deposits and loans
GeekWire
MARCH 26, 2023
The deal with First Citizens may provide some market stability following a tumultuous past few weeks since Silicon Valley Bank went down. GeekWire Photo / Nate Bek) First Citizens Bank has agreed to purchase all deposits and loans of Silicon Valley Bank, the Federal Deposit Insurance Corporation announced late Sunday.
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How CBA Is Managing Cyber Security in an Age of ‘Infinite Signals’
Tech Republic Security
NOVEMBER 9, 2023
Commonwealth Bank of Australia cyber defence operations leader Andrew Pade is building an AI legacy that will protect customers from cyber attacks and security professionals from career burnout.
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Financial Conduct Authority concerned about cyber security of banks
Computer Weekly
NOVEMBER 9, 2016
The FCA expresses concern about the cyber security of banks after 9,000 Tesco Bank customers lost £2.5m in fraudulent transactions
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Aruba banks on integrated security, AI, NaaS for enterprise growth
Network World
APRIL 28, 2023
Security, AI, and network-as-a-service (NaaS) were top of mind for Aruba Networks execs at their Atmosphere customer conference this week. Ten years ago for most network operators their main job was making sure connectivity was reliable and security was someone else’s problem. To read this article in full, please click here
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Tesco Bank theft shows need to take cyber security more seriously
Computer Weekly
NOVEMBER 8, 2016
Tesco Bank compromise should act as a wake up call to UK businesses to take cyber security more seriously, say security experts
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Beware of Bank of America data breach if you own an account
Dataconomy
FEBRUARY 13, 2024
Bank of America data breach has been confirmed by the officials and customers are worried. One of the most notable recent cases is the Bank of America data breach, which underscores the importance of cybersecurity vigilance and the ongoing need to protect your personal information. What information was exposed?
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Customer centricity: How Mashreq Bank is placing its customers at the forefront of its operations.
CIO Business Intelligence
FEBRUARY 5, 2024
Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. This approach has significantly enhanced the customer banking experience.
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Why Banks Worldwide Are Turning to Fingerprint Biometrics
HID Global
SEPTEMBER 11, 2023
Discover how banks utilize fingerprint biometrics to enhance security & user experience. Learn more about the benefits and best practices for this technology.
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Making Banking a More Effortless Experience
CIO Business Intelligence
AUGUST 22, 2022
Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .
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Anonymous Sudan’s Attack of European Investment Bank: Money, Politics and PR
Tech Republic Security
JUNE 26, 2023
The post Anonymous Sudan’s Attack of European Investment Bank: Money, Politics and PR appeared first on TechRepublic. Pro-Kremlin groups Anonymous Sudan, Killnet and Clop have other motivations than just hacktivism as they widen their attack field beyond political targets.
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Biometrics Poised to Maximize Security and Battle Banking Fraud Across Nepal
HID Global
OCTOBER 30, 2023
Discover how biometric technology helped maximize security, prevent fraud and increase the customer experience across banking & finance institutions in Nepal.
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BofA Vendor Data Breach Amplifies Third-Party Risks
IT Toolbox
FEBRUARY 14, 2024
A Bank of America vendor suffered a data breach in November last year wherein the threat actors compromised tens of thousands of customers. The incident, which came to light recently, underlines the necessity of conducting the appropriate security checks while dealing with third parties.
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New Xenomorph Android malware targets more than 50 banking and financial applications
Tech Republic Security
FEBRUARY 23, 2022
Some banking malware targets mobile devices and can quickly steal money from banking accounts. Meet Xenomorph, a new malware targeting Android and more than 50 banking and financial applications. The post New Xenomorph Android malware targets more than 50 banking and financial applications appeared first on TechRepublic.
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New Android banking malware disguises as crypto app to spread
Tech Republic Security
JUNE 21, 2022
A new banking Trojan dubbed "Malibot" pretends to be a cryptomining application to spread between Android phones. The post New Android banking malware disguises as crypto app to spread appeared first on TechRepublic. While only active now in Spain and Italy, it could begin targeting Americans.
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Should finance organizations bank on Generative AI?
CIO Business Intelligence
SEPTEMBER 29, 2023
As I work with financial services and banking organizations around the world, one thing is clear: AI and generative AI are hot topics of conversation. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. In short, yes. But it’s an evolution.
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It’s time to go paperless: are bank branches ready?
CIO Business Intelligence
MAY 16, 2023
When the chief banking officer of a $10.3B community bank visited a competing super-regional branch in her suburban New Jersey neighborhood, she noticed something troubling. Today’s rapidly rising rate environment is driving activity across the country’s 72,000 bank branches 2. Consider the following real-world scenarios. ●
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The ripple effects from the Silicon Valley Bank fiasco on startups and investors
GeekWire
MARCH 13, 2023
Silicon Valley Bank worked with an estimated 80% of venture-backed startups in Seattle. GeekWire spoke with startup CEOs and investors to get their reaction to the government’s decision to backstop deposits and what changes they expect as a result of the bank’s sudden collapse. There could be some silver linings.
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How banks and banking customers can protect themselves against financial crimes
Tech Republic Security
MARCH 4, 2021
Account takeovers and online banking fraud are two types of attacks on the rise against financial institutions and their customers, says Feedzai.
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World's Largest Bank ICBC Hit by Ransomware
SecureWorld News
NOVEMBER 10, 2023
The Industrial and Commercial Bank of China (ICBC), recognized as the world's largest commercial bank, has fallen victim to a ransomware attack. The bank, in response to the incident, promptly disconnected and isolated affected systems to contain the breach. Despite the disruption, ICBC successfully cleared U.S.
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Steps CIOs should take to protect customer data in Nigeria’s open banking systems
CIO Business Intelligence
AUGUST 5, 2022
Due to Nigeria’s fintech boom borne out of its open banking framework, the Central Bank of Nigeria (CBN) has published a much-awaited regulation draft to govern open banking procedures. And at its core is the need to secure customer data through a robust set of requirements. Traditional banking is fading away,” he says.
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Bank of America lowers security – removes one time passwords at payee add/change
Forrester IT
APRIL 24, 2018
With the latest change to the BofA online banking bill pay service (which added all sorts of unnecessary and distracting icons and ugly fonts), the bank decided to remove the one time password two factor authentication (OTP 2FA) requirement to force the customer to perform a one time password based step-up authentication before allowing the […] (..)
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The Global Scampocalypse – Fraud Rules the Day
IT Toolbox
NOVEMBER 14, 2023
Learn how AI-driven tactics are reshaping financial security, protecting banks and customers alike. The post The Global Scampocalypse – Fraud Rules the Day appeared first on Spiceworks.
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MWC 2024 Replay: Huawei unlocks resilient, ‘non-stop’ banking with four-pronged solutions strategy
CIO Business Intelligence
MARCH 26, 2024
With the goal to enhance intelligence in the digital banking arena, Huawei has unveiled a new framework to bolster infrastructure resilience. Meanwhile, under the third prong of zero trust, Huawei stated the need to build “multi-layer in-depth defense” to ensure service and data security. “As
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Seattle VC firms tell startups to assess positions with Silicon Valley Bank amid funding concerns
GeekWire
MARCH 9, 2023
(SVB Photo) Venture capital firms in Seattle are advising portfolio companies to reconsider their positions with Silicon Valley Bank amid potential funding troubles at the tech-focused bank. Shares of Silicon Valley Bank plummeted Thursday after the firm said it would book a $1.8 The bank is launching a $2.25
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China bans Micron chips over "network security risks"
TechSpot
MAY 22, 2023
According to China's Cyberspace Administration (CAC), a network security review of Micron's products showed they have relatively serious potential network security issues that pose major security risks to China's critical infrastructure supply chain, which includes state-owned banks, transportation, and telecoms.
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AI, predictive analytics top list of hot technologies for banks
CIO Business Intelligence
JUNE 2, 2022
Hot technologies for banks also include 5G , natural language processing (NLP) , microservices architecture , and computer vision, according to Forrester’s recent Top Emerging Technologies in Banking In 2022 report. 5G aids customer service. 5G aids customer service.
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JPMorgan says Tesla owes the bank $162 million
The Verge
NOVEMBER 15, 2021
JPMorgan has sued Tesla, claiming that the electric car company owes the bank $162 million related to a 2014 stock warrant agreement. The dispute centers around adjustments the companies made to the agreement following Tesla CEO Elon Musk’s 2018 “[f]unding secured” tweet and the resulting fallout. Funding secured.”
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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy
CIO Business Intelligence
OCTOBER 26, 2022
Digitalization is a double-edged sword for banks, especially when it comes to security. As interactions and transactions become more interconnected, even the simplest processes like opening a new account or making a balance transfer become riddled with security concerns.
Russian banks hit by IoT-enabled DDoS attacks
Computer Weekly
NOVEMBER 11, 2016
DDoS attacks on Russian banks have been linked to IoT botnets, further confirming this worrying trend and highlighting the need for IoT suppliers to improve security capabilties
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Popular mobile banking apps are riddled with security flaws, and Android users are more at risk
Tech Republic Security
JUNE 18, 2020
A study of banking apps for iOS and Android found poor source code protection, cleartext storage of sensitive data, and other serious flaws that make it easy for attackers to break into accounts.
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Continuous learning gives U.S. Bank a technology talent edge
CIO Business Intelligence
SEPTEMBER 1, 2023
Bank over the years is that effectively deploying and making use of new tools requires a skilled and diverse workforce and a technology team with a strong engineering culture to support it. Banking on technology and people The largest technology investment for U.S. What we have discovered in implementing emerging technology at U.S.
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Regulators close Silicon Valley Bank in stunning downfall for financial mainstay of tech industry
GeekWire
MARCH 10, 2023
Employees based in Silicon Valley Bank’s downtown Seattle office were instructed to work from home after regulators announced Friday that they were taking over the bank. The downfall of SVB is being called the largest bank failure since the Great Recession. billion loss related to securities sales.
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