Hunton Privacy

NOVEMBER 23, 2022

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Penetration Testing, Vulnerability Assessments and Risk Assessments. Multifactor Authentication. Cybersecurity Plan.

Financial Services 55

Financial Services Cybersecurity Ransomware Compliance 55

eSecurity Planet

SEPTEMBER 30, 2021

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.

Authentication 113

Authentication Phishing Financial Services Passwords 113

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. Risk management also extends to physical devices, such as doors and locks to protect homes and vehicles, vaults to protect money and precious jewels, and police, fire, and CCTV to protect against other physical risks.

Risk 145

Risk Cybersecurity Encryption Access 145

Hunton Privacy

APRIL 22, 2020

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

Financial Services 71

Financial Services Cybersecurity Phishing Risk 71

Rocket Software

AUGUST 17, 2020

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? E-signatures, however, are a lot more difficult to authenticate and validate.

Authentication 52

Authentication Financial Services Passwords Insurance 52

eSecurity Planet

FEBRUARY 26, 2024

3 Common Types of Cross-Site Scripting Attacks Top 5 Risks Associated with XSS Attacks How to Tell if You’re Vulnerable to XSS Attacks Can You Prevent Cross-Site Scripting? XSS attacks have multiple security and business risks, including credential theft and damaged company reputation.

Risk 104

Risk Financial Services Security Libraries 104

Krebs on Security

MAY 19, 2021

New research shows how fraudsters can abuse wireless provider websites to identify available, recycled mobile numbers that allow password resets at a range of email providers and financial services online. While you’re at it, consider removing your phone number as a primary or secondary authentication mechanism wherever possible.

Authentication 348

Authentication Passwords Financial Services Risk 348

The Last Watchdog

JULY 11, 2023

By using real-time antivirus scanning to detect and neutralize security risks as they enter the trading system, threats can be quickly identified and eliminated. Encryption renders data unreadable to unauthorized individuals, significantly reducing the risk of data breaches. •Employ real-time antivirus scanning.

IT 189

IT Encryption Risk Financial Services 189

IBM Big Data Hub

AUGUST 17, 2023

This technology has numerous potential applications in the financial services industry, supply chain management, voting systems and more. For example, a government could issue a stimulus package that can only be spent on certain goods and services. Also, CBDC can improve financial inclusion.

Blockchain 71

Blockchain Financial Services Risk Authentication 71

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 ). Prudential risk management.

Authentication 68

Authentication Paper Risk Insurance 68

Thales Cloud Protection & Licensing

MARCH 6, 2024

Nearly one-third (28%) of all DDoS attacks on APIs focus on financial services organizations, the most targeted industry for this type of attack. With an average of 613 APIs per organization, deprecated endpoints or Broken Object Level Authorization (BOLA) heighten the potential risks facing business.

Security 87

Security Authentication Risk Cybersecurity 87

Data Matters

JANUARY 28, 2022

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. Implement centralized log collection and monitoring.

Cybersecurity 157

Cybersecurity Financial Services Authentication Government 157

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 As part of the settlement, EyeMed agreed to conduct a comprehensive cybersecurity risk assessment and prepare an action plan that addresses the risks identified in that assessment.

Cybersecurity 67

Cybersecurity Financial Services Risk Phishing 67

Thales Cloud Protection & Licensing

NOVEMBER 20, 2023

Black Friday and Cyber Monday, both hailed as the epitome of shopping extravagance, are also synonymous with a heightened risk of cyberattacks on retail platforms. It becomes, therefore, essential for retailers to consider the fresh insights provided by the Thales 2023 Data Threat Report – Financial Services Edition.

Retail 83

Retail Cybersecurity Financial Services Encryption 83

Dark Reading

DECEMBER 18, 2012

Without it, or worse, relying on unvalidated resources like personal identifiable information (PII) to identify customers, puts every banking transaction at risk. The recent article, “$850 Million Scheme Exploited Facebook: Authentication, Secure Browsing Would Have Reduced Losses,” illustrates just how important customer authentication is.

Authentication 40

Authentication Risk Financial Services Phishing 40

Krebs on Security

APRIL 28, 2020

As it turned out, calling the phone number on the back of the credit card from the phone number linked with the card provided the most recent transactions without providing any form of authentication.” “I was appalled that Citi would do that. ” Image: Next Caller.

Financial Services 359

Financial Services Sales Authentication Risk 359

Thales Cloud Protection & Licensing

JANUARY 10, 2022

The financial services ecosystem has evolved tremendously over the past few years driven by a surge in the adoption of digital payments. Security is paramount; digital payments are not only authorized but they must be authenticated as well. How Can We Secure The Future of Digital Payments? Tue, 01/11/2022 - 06:35.

Retail 126

Retail Security Financial Services Authentication 126

Thales Cloud Protection & Licensing

APRIL 29, 2024

Entities designated as "essential" or "important" by member states in all sectors of the economy and public services must implement robust security measures, including proactive risk management, incident reporting, and supply chain security. The DSA introduces tiered obligations based on platform size and reach. PCI DSS 4.0

Compliance 71

Compliance Cybersecurity Risk Manufacturing 71

Security Affairs

JANUARY 17, 2022

.” The CPU will address critical vulnerabilities in Oracle Essbase, Graph Server and Client, Secure Backup, Communications Applications, Communications, Construction and Engineering, Enterprise Manager, Financial Services Applications, Fusion Middleware, Insurance Applications, PeopleSoft, Support Tools, and Utilities Applications.

Communications 109

Communications Financial Services Big data Retail 109

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.

Compliance 83

Compliance Cloud Security Financial Services 83

Krebs on Security

DECEMBER 13, 2022

“InfraGard connects critical infrastructure owners, operators, and stakeholders with the FBI to provide education, networking, and information-sharing on security threats and risks,” the FBI’s InfraGard fact sheet reads. .” “If it was only the phone I will be in [a] bad situation,” USDoD said.

Sales 362

Sales Energy and Utilities Communications Data breaches 362

Thales Cloud Protection & Licensing

SEPTEMBER 18, 2023

According to the 2022 Thales Data Threat Report – Financial Services Edition , 52% of U.S. financial services organizations report that they have experienced a data breach in the past. Adapting policies and procedures to the changing business and risk landscape is necessary. million, second only to healthcare.

Compliance 77

Compliance Financial Services Data breaches Encryption 77

Thales Cloud Protection & Licensing

JANUARY 26, 2021

Criminals use personal and financial data to impersonate customers and add apparent authenticity to a scam. Coupled with the fact that only about half of all vulnerabilities in the retail industry are getting patched within the first quarter after discovery, it is easy to understand the risks of being defraud by criminals.

Security 143

Security Retail Authentication Big data 143

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

ForAllSecure

JANUARY 31, 2023

Therefore, the FFIEC provides guidance on financial regulations and best practices for federal supervisory agencies, as well as helping them develop exam policies for banks, savings associations, credit unions, thrifts, and other financial institutions.

Cybersecurity 52

Cybersecurity IT Financial Services Risk 52

IT Governance

OCTOBER 13, 2023

Keeping informed about current attacks is one of the best ways of reducing the risk of falling victim. This month, we look at campaigns targeting Microsoft credentials by abusing open redirects from the job site indeed.com and exploiting LinkedIn Smart Links, and a series of attacks on users of postal services around the world.

Phishing 105

Phishing Financial Services Manufacturing Personal data 105

Security Affairs

JUNE 20, 2023

These challenges are intensified in industries that handle large volumes of sensitive data under stringent regulations , such as financial services, healthcare, and government sectors. By recognizing the significance of data sovereignty, businesses can take measures to enhance data security and control, mitigating these risks.

Compliance 89

Compliance Cybersecurity Risk Encryption 89

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. Risk Assessments : NYDFS removed in its entirety the previously proposed requirement under Section 500.9(d)

Cybersecurity 113

Cybersecurity IT Compliance Financial Services 113

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. Article 7 of the draft RTS delves into cryptographic key management, emphasizing the importance of lifecycle management for cryptographic keys.

Encryption 67

Encryption Data Privacy Compliance Cloud 67

Data Matters

MARCH 28, 2022

OCR’s reminders and recommendations for regulated entities include to: assess and reduce risks and vulnerabilities to the availability of ePHI, which is defined as “the property that data or information is accessible and useable upon demand by an authorized person” pursuant to the HIPAA Security Rule. 45 CFR 164.308(a)(5)(i).

Cybersecurity 88

Cybersecurity Privacy Insurance Risk 88

Data Protection Report

JUNE 2, 2021

On May 13, 2021, the New York Department of Financial Services (NYDFS) announced a $1.8 Neither affiliate #1 nor affiliate #2 had fully implemented multi-factor authentication at the time nor, according to the settlement, had either affiliate received CISO approval of alternate controls. NYDFS Cybersecurity Regulation.

Cybersecurity 71

Cybersecurity Insurance Financial Services Phishing 71

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

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

The Last Watchdog

SEPTEMBER 7, 2022

The technology industry has met the dramatic rise in ransomware and other cyber attacks with an impressive set of tools to help companies mitigate the risks. Healthcare and public health, financial services, and IT organizations are frequent targets, although businesses of all sizes can fall victim to these schemes.

Ransomware 124

Ransomware Education Phishing Financial Services 124

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. NYDFS found that none of the assessments addressed the risks associated with the compromised O365 mailbox. Background.

Cybersecurity 52

Cybersecurity Personal data Risk Financial Services 52

Data Protection Report

APRIL 2, 2020

On March 10, 2020, the New York Department of Financial Services (NYDFS) issued guidance to all of its regulated institutions engaged in virtual currency business activity, requiring them to have plans for preparedness to manage the possible operational and financial risks posed by the COVID-19 pandemic.

Risk 59

Risk Communications Authentication Financial Services 59

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. Third-party service provider risk management program.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40