Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

The Last Watchdog

SEPTEMBER 7, 2022

The internet has drawn comparisons to the Wild West, making ransomware the digital incarnation of a hold-up. 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. Ransomware usually starts with a phishing email.

Ransomware 124

Ransomware Education Phishing Financial Services 124

Security Affairs

OCTOBER 14, 2020

G7 Finance ministers expressed concern on Tuesday over the rise in ransomware attacks during the Covid-19 pandemic, including some involving cryptocurrencies. G7 Finance ministers warn of ransomware attacks that have been growing in scale, sophistication, and frequency over the past two years. ” continues the statement.

Ransomware 126

Ransomware IT Financial Services Data Privacy 126

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

IBM Big Data Hub

MARCH 20, 2024

Organizations in the financial services, healthcare and other regulated sectors must place an even greater focus on managing risk—not only to meet compliance requirements, but also to maintain customer confidence and trust. Similarly, in the U.S.

Cloud 79

Cloud Financial Services Risk Business Services 79

Security Affairs

MARCH 19, 2022

The Federal Bureau of Investigation (FBI) reported that AvosLocker ransomware is being used in attacks targeting US critical infrastructure. The Federal Bureau of Investigation (FBI) published a joint cybersecurity advisory warning of AvosLocker ransomware attacks targeting multiple US critical infrastructure. Pierluigi Paganini.

Ransomware 97

Ransomware Passwords Encryption Financial Services 97

Security Affairs

OCTOBER 29, 2021

A ransomware attack hit Papua New Guinea ‘s finance ministry and disrupted government payments and operations. Government officials confirmed that Papua New Guinea’s finance ministry was hit by a ransomware attack that disrupted government payments and operations. Follow me on Twitter: @securityaffairs and Facebook.

Ransomware 82

Ransomware Financial Services Government Data breaches 82

eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.

Ransomware 97

Ransomware Encryption Insurance Cloud 97

IBM Big Data Hub

NOVEMBER 7, 2023

Recent advances in areas like AI and quantum computing offer transformative potential for businesses, but may also bring new risks and security challenges. IBM Cloud Object Storage is built on the IBM Cloud Framework for Financial Services , which was designed to help clients focus on their security and compliance postures.

Cloud 86

Cloud Financial Services Security Compliance 86

Adam Levin

NOVEMBER 13, 2018

The American business and financial services company Moody’s will start factoring risk of getting hacked into their credit ratings for companies. The move is seen as part of a wider initiative to gauge the risk of cyberattacks and data breaches to companies and their investors. “We’ve Read more about the story here.

Risk 81

Risk Financial Services Manufacturing Data breaches 81

Security Affairs

DECEMBER 26, 2023

Key trends: 1️ Increased Ransomware Activity Targeting Public Companies Ransomware groups are poised to intensify their focus on publicly-traded organizations. Recent U.S. Follow me on Twitter: @securityaffairs and Facebook and Mastodon Pierluigi Paganini ( SecurityAffairs – hacking, 2024 Cyber Threat Landscape Forecast)

Energy and Utilities 116

Energy and Utilities Artificial Intelligence Ransomware Data breaches 116

Krebs on Security

AUGUST 13, 2021

Dubbed “ Antinalysis,” the service purports to offer a glimpse into how one’s payment activity might be flagged by law enforcement agencies and private companies that try to link suspicious cryptocurrency transactions to real people. Sample provided by Antinalysis. “Worried about dirty funds in your BTC address?

Blockchain 304

Blockchain Analytics Marketing Ransomware 304

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. Our previous blog post covered key proposed changes to the Cyber Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Security Affairs

APRIL 8, 2020

On March 21, the Maze ransomware operators published some of the stolen files on their “leak site,” after the refusal of the research firm of paying the ransom. The attack took place on March 14th, 2020, when the Maze Ransomware operators exfiltrated data from the HMR’s network and then encrypt their systems.

Ransomware 102

Ransomware Data breaches Encryption Financial Services 102

Thales Cloud Protection & Licensing

APRIL 29, 2024

However, a relentless barrage of data breaches, ransomware attacks, and sophisticated cyber threats steadily erodes this trust. Very Large Online Platforms (VLOPs), such as Facebook, Booking, and LinkedIn, and search engines like Google Search, will face stricter requirements for transparency, risk assessment, and content moderation.

Compliance 71

Compliance Cybersecurity Risk Manufacturing 71

Data Matters

OCTOBER 8, 2020

Treasury Department’s Office of Foreign Assets Control (OFAC) published an advisory that highlights the risk of potential U.S. individuals and businesses comply with ransomware payment demands. Payment is often demanded in bitcoin, and thus third-party services are often used to make such payments.

Ransomware 68

Ransomware Compliance Risk Government 68

Data Matters

MAY 4, 2022

By adding these two global market leaders, we are expanding our expertise to better support our clients with the ever growing risks associated with national security and cybersecurity matters across our multi-disciplinary practices.”.

Cybersecurity 167

Cybersecurity Marketing Security Privacy 167

Security Affairs

DECEMBER 17, 2023

CISA and ENISA enhance their Cooperation CISA adds Qlik bugs to exploited vulnerabilities catalog Report: 2.6

Security 81

Security Data breaches Ransomware Artificial Intelligence 81

The Last Watchdog

DECEMBER 21, 2021

Some 11,800 computer software companies, 10,000 IT services vendors, 5,500 health care organizations and 3,200 financial services firms continue to maintain on-premises Exchange email servers, according to this report from Enlyft. At the moment, ransomware attacks are front and center.

Cloud 222

Cloud Financial Services Communications Ransomware 222

Schneier on Security

JANUARY 31, 2024

The rules would ensure people can obtain their own financial data at no cost, control who it’s shared with and choose who they do business with in the financial industry. The best way for financial services firms to meet the CFPB’s rules would be to apply the decoupling principle broadly.

Financial Services 101

Financial Services Privacy Personal data Marketing 101

IBM Big Data Hub

FEBRUARY 26, 2024

The financial services industry has been in the process of modernizing its data governance for more than a decade. How can banks, credit unions, and financial advisors keep up with demanding regulations while battling restricted budgets and higher employee turnover? Data lineage provides that reliability—and more.

Financial Services 99

Financial Services Cloud Metadata Digital transformation 99

eSecurity Planet

NOVEMBER 17, 2022

Venables spent much of his presentation discussing the many ways Google Cloud reduces concentration risk (see slide below). Also read : Is the Answer to Vulnerabilities Patch Management as a Service? Ransomware is the most feared cybersecurity threat, and with good reason: Its ability to destroy and steal data is almost without peer.

Cloud 115

Cloud Encryption Ransomware Cybersecurity 115

Data Matters

JANUARY 28, 2022

A few days after the Advisory, Ukrainian government websites were attacked by Russian actors while the Russian government simultaneously arrested members of the notorious ransomware gang REvil. MFA was also expressly named by both Microsoft and Mandiant as one of the most important recommendations to mitigate risk.

Cybersecurity 157

Cybersecurity Financial Services Authentication Government 157

Security Affairs

APRIL 6, 2023

A digital identification tool provided by OCR Labs to major banks and government agencies leaked sensitive credentials, putting clients at severe risk. Its services are used by companies and financial institutions including BMW, Vodafone, the Australian government, Westpac, ANZ, HSBC, and Virgin Money.

IT 84

IT Financial Services Access Risk 84

Data Protection Report

NOVEMBER 2, 2023

On November 1, 2023, the New York Department of Financial Services (NYDFS) finalized the second amendment to its cybersecurity regulations, which are available here. a)(2) [automated scans], 500.7, [risk assessment] 500.14(a)(2) a)(2) [risk-based controls] and 500.14(b) d) and 500.22(e)),

Cybersecurity 105

Cybersecurity Compliance Financial Services Government 105

eSecurity Planet

JUNE 16, 2022

Encrypted threats spiked 167%, ransomware increased 105%, and 5.4 These new attacks affect everything from private citizens and businesses to government systems; healthcare organizations; public services; and food, water, and fuel supply chains. Ransomware. Ransomware is the fastest-growing trend. Mobile attacks.

Ransomware 141

Ransomware Cybersecurity Phishing Encryption 141

Data Matters

JUNE 24, 2021

The SEC is considering enhancing its disclosure rules concerning cybersecurity risk governance and has indicated a target release date of October 2021. enable companies to identify cybersecurity risks and incidents. evaluate the significance associated with such risks and incidents. Lessons Learned From the SEC’s Order.

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

Security Affairs

APRIL 20, 2023

If malicious actors accessed the exposed data, the company could have faced devastating consequences and put their clients at risk, as financial services are the main target for cybercriminals. Employees, businesses, and individuals whose data were exposed could be at risk of spear phishing campaigns,” added researchers.

Personal data 96

Personal data Phishing Risk Financial Services 96

eSecurity Planet

SEPTEMBER 30, 2021

“Over the past few months, we’ve seen actors provide access to services that call victims, appear as a legitimate call from a specific bank and deceive victims into typing an OTP or other verification code into a mobile phone in order to capture and deliver the codes to the operator,” the Intel 471 researchers wrote.

Authentication 107

Authentication Phishing Financial Services Passwords 107

IT Governance

AUGUST 26, 2021

For example, financial services firms may be worried about employees breaching insider trading laws. A hybrid working model creates new security risks for organisations – not least because data is frequently transferred between office-based and remote employees. Addressing technical vulnerabilities.

Compliance 119

Compliance Data breaches Privacy Risk 119

The Last Watchdog

SEPTEMBER 10, 2019

million and grown to 42 employees, winning customers in leading media firms, financial services companies and government agencies in the Nordics. We put lots of effort into making sure that the customer’s staff understands what sort of security risks they’re facing,” Sundberg told me.

Cloud 171

Cloud Security Digital transformation Financial Services 171

Security Affairs

DECEMBER 4, 2018

The medical industry faces an exceptional risk for cyberattacks because there are so many players involved in the sector. There are also instances of hospitals being unable to perform fundamental services. Nonprofits typically focus their efforts on causes that improve society at large, at-risk groups and others in need.

Retail 87

Retail Cybersecurity Data breaches Risk 87

Thales Cloud Protection & Licensing

NOVEMBER 16, 2020

ransomware). According to the report, almost all (97%) of financial services organizations store data in the cloud. Despite the increased expenditures on data security, healthcare providers do not seem to be concerned enough about the issues creating the most risk. Smart data protection to address all risks.

Digital transformation 62

Digital transformation Encryption Cloud Data breaches 62

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”). As part of the “risk assessment” requirements under Section 500.9

Financial Services 55

Financial Services Cybersecurity Risk Passwords 55

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. billion were made under property/casualty policies that were silent about cyber risks.

Insurance 70

Insurance Cybersecurity Risk Education 70

KnowBe4

FEBRUARY 14, 2023

In addition to mandatory and routine training and security tools, the best way to ensure employees are vigilant about potential risks is to help them reframe their online mindset while encouraging them to leverage critical thinking in evaluating and defending against internal and external threats," Watson says.

Phishing 83

Phishing Security awareness Compliance Risk 83

KnowBe4

MARCH 28, 2023

Not until an employee sends a reply, runs an attachment, or fills in a form is sensitive information at risk. This enormous security gap leaves you open to business email compromise, session hijacking, ransomware and more. The second ring of defense in our mentality then has to be, 'Wait! Don't get caught in a phishing net!

Phishing 87

Phishing Security awareness Insurance Cybersecurity 87