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The Rise of One-Time Password Interception Bots

Krebs on Security

In February, KrebsOnSecurity wrote about a novel cybercrime service that helped attackers intercept the one-time passwords (OTPs) that many websites require as a second authentication factor in addition to passwords. OTP Agency took itself offline within hours of that story. .

Passwords 323
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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. c)); – monitor privileged access activity by implementing a privileged access management (“PAM”) solution, and automatically blocking commonly used passwords (500.7(c));

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Attackers Use Bots to Circumvent Some Two-Factor Authentication Systems

eSecurity Planet

Underground services are cropping up that are designed to enable bad actors to intercept one-time passwords (OTPs), which are widely used in two-factor authentication programs whose purpose is to better protect customers’ online accounts. By using the services, cybercriminals can gain access to victims’ accounts to steal money.

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How Multi-factor Authentication Can Benefit Your Industry

Rocket Software

Financial services organizations typically experience the most data breaches and hacks, which makes security a priority. For almost every industry, multi-factor authentication can be beneficial. What is Multi-factor Authentication? It isn’t a specific means of confirmation, but it can include various password components.

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GUEST ESSAY: 7 tips for protecting investor data when it comes to alternative asset trading

The Last Watchdog

Having access to a partner focused in cybersecurity brings fresh perspectives and allows for an unbiased evaluation of the systems in use. It’s important to implement robust monitoring systems that analyze activities and network traffic, which identify unauthorized access or suspicious behavior. Foster collaborative partnerships.

IT 189
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U.S. and Foreign Cybersecurity and Intelligence Agencies Recommend Measures to Counteract Threat of Russian Cyberattacks

Data Matters

These recommendations are further detailed below, but two to note in particular: The Advisory recommends that organizations “require multi-factor authentication for all users, without exception.” Require multi-factor authentication (MFA) for all users. Enable Controlled Folder Access.

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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp. NYDFS also found that Carnival had failed to implement basic protocols to prevent data breaches.