CIOs Help Banks Prepare For The End Of The World

The Accidental Successful CIO

CIOs at banks have a great deal to worry about. As though this wasn’t bad enough, every bank is connected to every other bank. What this means is that if something bad happened to a connected bank, then your bank could also suffer. banking and financial system.

PSD2 Security Requirements Are Restricting Fintech Innovation

Forrester IT

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 need to comply with […].

Financial Conduct Authority concerned about cyber security of banks

Computer Weekly

The FCA expresses concern about the cyber security of banks after 9,000 Tesco Bank customers lost £2.5m in fraudulent transactions

Lloyds Bank launches technologies to improve and secure customer services

Computer Weekly

Lloyds Bank is investing in the latest technologies to provide customers with convenient and secure banking services

Lax perimeter security exposes bank to hacker extortion attempt

Computer Weekly

Failure to follow standard network security best practice has exposed a Californian investment bank to cyber criminals’ demands

Consumers trust banks more than government for biometric security

Computer Weekly

UK citizens think banks are the best organisations to provide biometric authentication for payments

Tesco Bank theft shows need to take cyber security more seriously

Computer Weekly

Tesco Bank compromise should act as a wake up call to UK businesses to take cyber security more seriously, say security experts

Dutch banks and ISPs behind in domain security

Computer Weekly

Dutch banks are falling behind organisations in other sectors when it comes to securing domains

Hackers Breach 400,000 UniCredit Bank Accounts for Data

Data Center Knowledge

Cyberattacks on corporations and banks are accelerating. SecurityRead More.

Russian banks hit by IoT-enabled DDoS attacks

Computer Weekly

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

Barclays Bank stops offering Kaspersky software to new users

Computer Weekly

Bank is no longer offering customers Kaspersky anti-virus software after UK security agency issues warning

Westpac bank launches Databank data protection service

Computer Weekly

Australia's Westpac bank is offering organisations that share customer data a service that it says securely locks down personal information

Securing data provides Canadian online bank rapid path to new credit card business

IT Toolbox

Explore how compliance, data security technology, and banking innovation come together to support a digital business success story

Barclays to use voice recognition for phone banking

Computer Weekly

Retail bank says technology will provide secure verification by recognising the unique characteristics of each person’s voice

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Mobile banking: Is it worth the security risk?

Tech Republic Security

There are upsides and downsides to banking via text. Jack Wallen highlights the security-centric cost of text-based banking

Security Think Tank: Data integrity breaches – the challenge facing banks

Computer Weekly

What type of organisation is likely to be targeted by data integrity breaches and how best can they detect and mitigate such attacks

Bank of America lowers security – removes one time passwords at payee add/change

Forrester IT

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 […

What CIOs Can Learn From Bank of America’s Trip Into The Cloud

The Accidental Successful CIO

Bank Of America is slowly moving into the cloud Image Credit: Mike Mozart. Just imagine if you were David Rilly, chief technology officer at Bank of America. Let’s face it, if you were the person with the CIO job at a major American bank, then you would have a lot going on.

Wells Fargo’s CIO Drops The Ball

The Accidental Successful CIO

If you were the CIO of a major bank responsible for the importance of information technology, what do you think that your #1 job responsibility would be? Over at the major American bank, Wells Fargo, their CIO has just dropped the ball and their IT systems were down for two days.

Banks forced to be open about major security and operational incidents

Computer Weekly

New FCA rules aim to give consumers more information about current accounts beyond interest rates and charges

Cyber security comes down to culture, say Dutch security experts

Computer Weekly

IT security can no longer be seen as just a technical matter. People, education and management matter too, but culture is the overarching and binding element, says security executive at Dutch bank

World Bank and GSA Discuss Data Center Optimization and Consolidation 9 June

CTOvision

Join Frank Butler of The World Bank and Dan Pomeroy of the GSA on 9 June at the Tower Club in Tysons Corner for a discussion of how they and their teams optimized and consolidated their data centers, resulting in increased efficiency and lower costs. Frank Butler will kick off the discussion by describing how the World Bank optimized and consolidated their data centers, resulting in significant savings for the organization. Charles Hall.

IBM deploys machine learning to bolster online banking security program

Network World

The new feature looks for anomalies between legitimate users’ normal mouse gestures and those of the current user, and over time refines the accuracy of its analysis, says Brooke Satti Charles, Financial Crime Prevention Strategist for IBM Security. That analysis creates a risk score that banks can use to decide whether an ongoing transaction is fraudulent and trigger an alert.

Cloud banking apps offer both risks and rewards

Tech Republic Security

Banks are increasingly issuing warnings to users of banking aggregators such as Personal Capital and Intuit's Mint.com under the guise of security risks, but that's not the whole story

Russian criminals use VoIP to crack bank and e-commerce accounts

IT Toolbox

According to security consultancy Flashpoint, call-back safeguards commonly used by banks and other financial institutions are now being by-passed using private VoIP. Private VoIP services are becoming increasingly popular with cyber criminals, particularly those based in Russia. Flashpoint has identified three services that are already being abused to help criminals circumvent call-back

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How Should CIOs Handle More Cybersecurity Regulations?

The Accidental Successful CIO

It turns out that regulators have been watching us and they now think that securing the company is important enough that they are starting to create regulations in this area. to require banks to formalize their cybersecurity program.

Embrace a Passwordless Approach to Improve Security

CEB IT

Easy-to-guess and reused legacy passwords are vulnerable to a wide range of attacks and, by themselves, do not provide proper security for sensitive systems and confidential information. For organizations, there’s no longer a need to store passwords, leading to better security, fewer breaches and lower support costs. Security and identity and access management (IAM) leaders can implement a passwordless approach in two ways.

Information security key to digital era business models

Computer Weekly

Security will become increasingly important as industries seek to collaborate and use each other’s capabilities to enable new business models, with the banking sector leading the way

Lost thumb drives bedevil US banking agency

Network World

banking regulator says an employee downloaded a large amount of data from its computer system a week before he retired and is now unable to locate the thumb drives he stored it on. The Office of the Comptroller of the Currency, which is a part of the Department of the Treasury, said the loss represented "a major information security incident" as it reported the case to Congress on Friday. A U.S.

Update On The Megatrend of Cybersecurity

CTOvision

Experienced professionals know how to mitigate risks in ways that reduce risks, but what is sometimes missing is support from the most senior executive and/or peers to the security leadership. If the executive team does not really care, the security program will be sub-optimized.

Indian banks replace millions of debit cards after possible breach

Network World

Indian banks have asked customers to change the PINs, and in some cases blocked access, to 3.2 million debit cards after concerns about a security breach. The issue surfaced in September when some banks complained that their customers' cards were used fraudulently mainly in China and the U.S. while the account holders were in India, the National Payments Corporation of India said late Thursday.

UK bank suspends online payments after fraud hits 20,000 accounts

Network World

The banking arm of U.K. The bank suspended its payment service for all checking account customers after 40,000 experienced suspicious transactions, bank CEO Benny Higgins told BBC Radio 4 on Monday. The bank will bear any losses as a result of the fraudulent activity and customers are not at financial risk, he said. But they might be inconvenienced until the bank has secured its systems.

Why CIOs Should Care About Two Factor Authentication

The Accidental Successful CIO

As everyone in the CIO position knows, keeping the company’s systems and applications secure is a top priority and has a lot to do with the importance of information technology. However, this security service is generally not activated by default.

To beat Bloomberg, Symphony is letting banks’ bots talk with each other

CTOvision

Symphony, a secure messaging app for financial industry that also lets bots at different institutions talk to each other and settle trades looks to take on Bloomberg the behemoth of financial trading. Here is a messaging App which has specifically made for the financial industry. However, the CEO of Symphony explained that the company’s goal as […]. CTO News

Italian cloud provider banks on Brexit to fill country’s largest datacentre campus

Computer Weekly

Campus will be powered by on-site renewable energy sources as Aruba sets sights on securing tenants displaced by the UK’s EU departure

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