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Defending Financial Services Against Fraud in a Shifting Cyber Landscape

Thales Cloud Protection & Licensing

Defending Financial Services Against Fraud in a Shifting Cyber Landscape sparsh Tue, 11/14/2023 - 05:05 As we approach International Fraud Awareness Week during 12-18 November 2023, taking stock of the evolving threat landscape and the vulnerabilities that financial services organizations face is crucial.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. Solving these challenges requires employee training and prioritization of documents to manage the increasingly high volume.

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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. This includes not only recruitment of those with cybersecurity experience and skills but a commitment by insurers to these employees’ training and development so as to “properly understand and evaluate cyber risk.”. 1 See W.B.

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Capital Markets, AI, and the need for governance

Collibra

With every financial services organization focused on making better and faster decisions, data professional and business leaders are eager to better understand how AI can facilitate their strategic goals. Financial services orgs, especially those in capital markets, frequently has been on the forefront of generative AI investment.

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MY TAKE: Why companies and consumers must collaborate to stop the plundering of IoT systems

The Last Watchdog

IoT devices help remotely control our household appliances, power plants, smart buildings, factories, airports, shipyards, trucks, trains and military. In one very recent caper, the attackers targeted the CFO of a financial services firm, as he worked from home, Sherman says. And we’re just getting started.

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Combat the increasing ransomware threat by educating employees

IT Governance

A recent Sophos survey of 2,700 IT managers in organisations with 100-5,000 employees around the world, revealed that many businesses are not prepared for ransomware attacks. 54% of those surveyed had experienced an attack within the past year. Healthcare was the most affected industry (76%) and financial services the least (45%).

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Best Fraud Management Systems & Detection Tools in 2022

eSecurity Planet

PwC’s 2022 Global Economic Crime and Fraud Survey reported that 46% of surveyed organizations experienced corruption, fraud, or other economic crimes in the 24-month survey period. For example, Experian’s 2021 Global Identity and Fraud Report stated that 82% of surveyed businesses had adopted customer recognition strategies.

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