Data Matters

FEBRUARY 25, 2021

This follows the FCA’s announcement in its 2020-21 business plan that payment services were one of its main supervisory priorities 1 and its temporary guidance of July 9, 2020, on prudential risk management and safeguarding in light of the COVID-19 pandemic ( Temporary COVID Guidance ). Authentication code.

Authentication 68

Authentication Paper Risk Insurance 68

Thales Cloud Protection & Licensing

JANUARY 11, 2023

Throughout 2022, Thales hosted more than 40 webinars on a wide variety of cybersecurity topics, including, cloud security, data sovereignty, compliance, data threat trends, and rethinking approaches to role-based authentication. Security & Compliance for SAP Data in Financial Services. Stay tuned! Data Security.

Compliance 83

Compliance Cloud Security Financial Services 83

IBM Big Data Hub

FEBRUARY 5, 2024

The Digital Operational Resilience Act (DORA) marks a significant milestone in the European Union’s (EU) efforts to bolster the operational resilience of the financial sector in the digital age. Ensuring end-to-end Protection To achieve total data privacy assurance, a key component is confidential computing and cryptography.

Encryption 67

Encryption Data Privacy Compliance Cloud 67

Data Matters

MARCH 12, 2019

Over the last few years, States have enacted increasingly aggressive legislation concerning data privacy and security, raising concerns that companies will be subject to a patchwork of different standards. Other Notable Changes. The proposed changes would amend the Rule to reflect this change.

Privacy 68

Privacy IT Information Security Insurance 68

Hunton Privacy

JULY 1, 2022

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.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

Data Protection Report

FEBRUARY 8, 2022

According to the settlement agreement, the AG concluded that EyeMed’s security practices did not meet the requirements of the SHIELD Act with respect to four requirements: authentication, password management, logging and monitoring, and data retention in the email account. SHIELD Act.

Passwords 98

Passwords Financial Services Authentication Insurance 98

Hunton Privacy

OCTOBER 24, 2022

On October 18, 2022, the New York State Department of Financial Services (“NYDFS”) announced that EyeMed Vision Care LLC (“EyeMed”) agreed to a $4.5 The NYDFS’s consent order notes that EyeMed’s failure to comply with the Cybersecurity Regulation left EyeMed vulnerable to threat actors.

Cybersecurity 67

Cybersecurity Financial Services Risk Phishing 67

Thales Cloud Protection & Licensing

NOVEMBER 27, 2018

The cybersecurity regulation ( 23 NYCRR 500 ) adopted by the New York State Department of Financial Services (NYDFS) is nearly two years old. Leading up to that date, companies have had to meet several milestones including hiring a CISO, encrypting all its non-public consumer data and enabling multi-factor authentication.

Cybersecurity 71

Cybersecurity Financial Services Encryption Data Privacy 71

The Last Watchdog

DECEMBER 6, 2022

Much more effective authentication is needed to help protect our digital environment – and make user sessions smoother and much more secure. Underscoring this trend, Uber was recently hacked — through its authentication system. The best possible answer is coming from biometrics-based passwordless, continuous authentication.

Authentication 203

Authentication Passwords Artificial Intelligence Financial Services 203

Adam Levin

SEPTEMBER 5, 2019

So, we can call this a Facebook privacy facepalm legacy attack. It’s a sad state of Facebook privacy news fatigue that the urge is so strong to create privacy fail sub-categories—but there you have it. The information is at least a year old, which was when Facebook stopped allowing developers to have user phone numbers.

Mining 79

Mining Authentication Financial Services Privacy 79

Security Affairs

MARCH 29, 2022

Earmarked by the FBI as a particular threat to the financial service industry just over a year ago, the increase of internet traffic, data breaches and API usage all contribute to the perfect conditions for successful credential stuffing attacks. Here’s what you need to know about how they work, and how you can stay safe. .

IT 79

IT Passwords Authentication Data Privacy 79

The Last Watchdog

AUGUST 15, 2018

SSL and TLS come into play in the form of digital certificates issued by Certificate Authorities (CAs) — vendors that diligently verify the authenticity of websites, and then also help the website owners encrypt the information consumers type into web page forms.

Security 203

Security Encryption Authentication Financial Services 203

Hunton Privacy

JULY 12, 2021

On June 30, 2021, the New York State Department of Financial Services (“NYDFS,” the “Department”) issued guidance to all New York state regulated entities on ransomware (the “Guidance”), identifying controls it expects regulated companies to implement whenever possible.

Ransomware 102

Ransomware Security Financial Services Cybersecurity 102

AIIM

OCTOBER 15, 2018

In North America, e-signatures are based on multiple authentication aspects with a focus on knowledge-based authentication which cannot be applied in EU due to much stricter privacy regulations. Go for a holistic four-dimensional requirements analysis. This is a “must have” to comply with anti-money laundering requirements.

Compliance 109

Compliance Insurance Digital transformation Authentication 109

Security Affairs

JUNE 20, 2023

Data sovereignty also encompasses the rights and regulations governing data storage, processing, and transfer and often intersects with privacy, security, and legal considerations. When data is sovereign, an organization retains control and ownership over that data.

Compliance 85

Compliance Cybersecurity Risk Encryption 85

Thales Cloud Protection & Licensing

OCTOBER 27, 2021

As a result, nearly half (46%) of global respondents agree that ‘it is more complex to manage privacy and data protection regulations in a cloud environment than on-premises’. Financial services, media and transportation highlighted encryption as the most popular option, while MFA was listed first by technology respondents.

Cloud 71

Cloud Encryption Financial Services Authentication 71

Hunton Privacy

JULY 5, 2023

On June 28, 2023, the New York Department of Financial Services (“NYDFS”) published an updated proposed Second Amendment (“Amendment”) to its Cybersecurity Regulation, 23 NYCRR Part 500. On November 9, 2022, NYDFS published a first draft of the proposed Amendment and received comments from stakeholders over a 60-day period.

Cybersecurity 113

Cybersecurity IT Compliance Financial Services 113

Thales Cloud Protection & Licensing

NOVEMBER 2, 2017

The conference features a variety of topics and sessions regarding all aspects of financial services, from cryptocurrency to banking. Three topics that piqued my interest at the 2017 show included authentication, blockchain and digital payments. Authentication.

Blockchain 63

Blockchain IT Authentication e-Delivery 63

Krebs on Security

MAY 3, 2019

Its account and transaction processing systems power the Web sites for hundreds of financial institutions — mostly small community banks and credit unions. In August 2018, in response to inquiries by KrebsOnSecurity , Fiserv fixed a pervasive security and privacy hole in its online banking platform.

Security 194

Security Passwords Financial Services Sales 194

Data Matters

DECEMBER 4, 2019

In principle, a statutory “signature” requirement can be met by using a private key intended to authenticate a document, and a statutory “in writing” requirement can be met in the case of a smart contract whose code element is recorded in source code. Available at [link]. 13 BIS – “Statement on crypto-assets,” March 13, 2019.

Blockchain 60

Blockchain Financial Services Healthcare Marketing 60

Data Matters

DECEMBER 4, 2019

In principle, a statutory “signature” requirement can be met by using a private key intended to authenticate a document, and a statutory “in writing” requirement can be met in the case of a smart contract whose code element is recorded in source code. Available at [link]. 13 BIS – “Statement on crypto-assets,” March 13, 2019.

Blockchain 60

Blockchain Financial Services Healthcare Marketing 60

Adam Levin

NOVEMBER 30, 2018

Regis, Westin, Sheraton, W Hotels or anywhere else that operates on Marriot’s Starwood guest reservation database, it’s time to redouble your cybersecurity and privacy efforts, because this compromise is one of biggest we’ve seen—dwarfed only by the Yahoo breach that affected 2 billion users. If you’ve made reservations at the St.

Financial Services 66

Financial Services Encryption Passwords Communications 66

Data Matters

APRIL 20, 2021

The post DOL Puts Plan Sponsors and Other Fiduciaries on Notice: ERISA Requires Appropriate Precautions to Mitigate Cybersecurity Threats appeared first on Data Matters Privacy Blog.

Cybersecurity 68

Cybersecurity Insurance Risk Compliance 68

Data Protection Report

OCTOBER 24, 2022

On October 18, 2022, the New York Department of Financial Services announced a settlement with EyeMed, a licensed life, accident, and health insurer, with respect to a security incident that occurred in 2020. The settlement requires EyeMed to pay $4.5 million, among other things. Background.

Cybersecurity 52

Cybersecurity Personal data Risk Financial Services 52

Data Protection Report

JANUARY 7, 2019

The two-year transitional period under the New York State Department of Financial Services (“DFS””) Cybersecurity Regulation , 23 NYCRR 500 (the “Regulation”), will expire on March 1, 2019, with the final remaining requirement becoming effective.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

The Last Watchdog

NOVEMBER 9, 2020

Hacking collectives are very proficient at “exploiting weak authentication schemes to gain persistence inside of a targeted network,” Sherman says. In one very recent caper, the attackers targeted the CFO of a financial services firm, as he worked from home, Sherman says.

IoT 279

IoT Passwords Artificial Intelligence Risk 279

eSecurity Planet

FEBRUARY 26, 2024

For example, if a threat actor writes a malicious script on a financial services company’s web server on a page where users input their financial data, the threat actor can steal that data every time someone uses the page. While few attacks will be obvious, watch carefully for those that are.

Risk 104

Risk Financial Services Security Libraries 104

Adam Levin

NOVEMBER 17, 2020

Mobile payment platforms, like Apple Pay and Google Pay, use advanced technology, like fingerprint authentication and tokenization (in which credit card account numbers are replaced by randomly generated numbers) to provide brick-and-mortar shoppers with an added layer of security. Enable two-factor authentication.

Retail 97

Retail e-Delivery Passwords Phishing 97

eSecurity Planet

SEPTEMBER 10, 2021

What authentication methods does the provider support? Additionally, multi-factor authentication (MFA) can further reduce the risk of malicious actors gaining access to sensitive information, even if they manage to steal usernames and passwords. What are the results of the provider’s most recent penetration tests?

Cloud 132

Cloud Security Encryption Risk 132

Hunton Privacy

JANUARY 3, 2017

On December 28, 2016, the New York State Department of Financial Services (“DFS”) announced an updated version of its cybersecurity regulation for financial institutions (the “Updated Regulation”). The Updated Regulation will become effective on March 1, 2017.

Cybersecurity 40

Cybersecurity Financial Services Authentication Information Security 40

HL Chronicle of Data Protection

MARCH 14, 2019

The Federal Trade Commission (“FTC”) issued notices on March 5 seeking public comment on proposed amendments to the regulations implementing the Gramm-Leach-Bliley Act (“GLBA”), commonly known as the Safeguards Rule and Privacy Rule. Proposed Changes to the Privacy Rule.

Privacy 40

Privacy Risk Cybersecurity Information Security 40

Hunton Privacy

AUGUST 15, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).

Financial Services 55

Financial Services Cybersecurity Risk Passwords 55

Thales Cloud Protection & Licensing

DECEMBER 4, 2019

Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data Threat Report-Financial Services Edition. Here’s a look at four common issues highlighted in the 2019 Thales Data Threat Report-Financial Services Edition and tips for overcoming them.

Financial Services 22

Financial Services Encryption Cloud Digital transformation 22

Security Affairs

JANUARY 27, 2022

Onfido, a London-based company, offers photo-based IDV services for businesses. Financial service providers, car rentals, and many other suppliers that need to confirm customer identities employ similar third-party services. Only the service provider knows which user or piece of data a specific token represents.

Personal data 90

Personal data Phishing Data breaches Passwords 90

Data Matters

AUGUST 17, 2021

On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC)1 issued guidance establishing risk management principles and practices to support the authentication of users accessing a financial institution’s information systems and customers accessing a financial institution’s digital banking services (the Guidance).

Authentication 88

Authentication Access Risk Financial Services 88

Krebs on Security

NOVEMBER 19, 2021

In reality, the fraudster initiates a transaction — such as the “forgot password” feature on the financial institution’s site — which is what generates the authentication passcode delivered to the member. To combat this scam Zelle introduced out-of-band authentication with transaction details.

IT 354

IT Passwords Authentication Phishing 354

Data Protection Report

OCTOBER 1, 2019

Although California has recently captured the lion’s share of attention with respect to privacy and security, on October 23, 2019, New York’s amended security breach law goes into effect, and on March 1, 2020, new security safeguards go live (N.Y. Biometric information that is used to authenticate or ascertain the individual identity.

Security 40

Security Financial Services Passwords Risk 40