Data Breach Today

SEPTEMBER 27, 2022

Rob Dartnall of Security Alliance Shares Insights on Current and Emerging Trends Financial services firms in Africa are becoming bigger cyber targets as they expand into new mobile payment and financial inclusion products.

Financial Services 245

Financial Services Cybersecurity Security 245

Rocket Software

MARCH 14, 2022

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.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

KnowBe4

SEPTEMBER 28, 2023

A recent panel discussion of banking CISOs and experts at the SIBOS conference focused on the current state of ransomware and what institutions should do to protect themselves.

Financial Services 94

Financial Services Ransomware Security awareness Phishing 94

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. The proposed amendments revise several aspects of the draft Cybersecurity Rule amendments released on July 29, 2022.

Financial Services 55

Financial Services Cybersecurity Ransomware Compliance 55

The Last Watchdog

FEBRUARY 11, 2024

Related: The case for augmented reality training Because of this, cybersecurity investments and regulatory oversight are increasing at an astounding rate , especially for those in the financial services industry, bringing an overwhelming feeling to chief compliance officers without dedicated security teams.

Risk 200

Risk IT Financial Services Cybersecurity 200

Data Breach Today

SEPTEMBER 23, 2021

Deepak Kumar, guest speaks at the keynote session at ISMG Virtual Cybersecurity Summit Asia: Financial Services The session addresses how the banking and financial services organizations can take steps to invest for operational speed, drive value from new investments, enhance their training and cybersecurity collaboration, and work to sustain what (..)

Cybersecurity 173

Cybersecurity Financial Services 173

HL Chronicle of Data Protection

APRIL 17, 2020

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. Third Party Risk. Third-party vendors may struggle to deal with COVID-19 restrictions.

Financial Services 75

Financial Services Risk Cybersecurity Phishing 75

Data Matters

FEBRUARY 10, 2021

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.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

Data Matters

AUGUST 19, 2020

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

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

IBM Big Data Hub

APRIL 5, 2024

Automotive manufacturers, having a wealth of data related to existing designs, can use these large bodies of data to train AI models. For example, managing the vast volumes of data involved in modern, high-fidelity HPC simulations, modeling and AI model training can be critical, requiring a high-performance storage solution.

Artificial Intelligence 70

Artificial Intelligence Computer and Electronics Financial Services Manufacturing 70

IT Governance

APRIL 11, 2019

Financial services firms must do more to educate employees about cyber security, according to the FCA (Financial Conduct Authority). Organisations need to make staff awareness training a board-level priority. Staff awareness training is a crucial part of this.

Retail 66

Retail Risk Education Financial Services 66

Data Protection Report

MARCH 1, 2021

On March 3, 2021, the New York Department of Financial Services (NYDFS) announced a Consent Order with a NYDFS-licensed Maine-based mortgage banker and loan servicer settling alleged violations of the NYDFS cybersecurity regulations. ( In the matter of Residential Mortgage Services, Inc., March 3, 2021).

Cybersecurity 98

Cybersecurity Financial Services Risk IT 98

The Last Watchdog

JULY 11, 2023

Conduct employee training and awareness programs. Investing in comprehensive employee training and awareness programs is essential for a security-conscious environment. Active awareness of security developments allows for adaptable strategies in addressing emerging risks and effectively protecting investor data.

IT 161

IT Encryption Risk Financial Services 161

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

KnowBe4

OCTOBER 5, 2023

Menlo Security warns that a social engineering campaign is using the EvilProxy phishing kit to target senior executives across a range of industries, including banking and financial services, insurance, property management and real estate, and manufacturing.

Phishing 92

Phishing Financial Services Insurance Manufacturing 92

IBM Big Data Hub

AUGUST 1, 2023

We are bringing the power of foundation models with the availability of a GPU as a service on IBM Cloud offering to help organizations tap into artificial intelligence (AI) in a secured environment while aiming to mitigate third- and fourth-party risk.

Financial Services 67

Financial Services Computer and Electronics Cloud Digital transformation 67

IBM Big Data Hub

DECEMBER 18, 2023

For organizations of all types—and especially those in highly regulated industries such as financial services, government, healthcare and telco—considerations including the rise of generative AI, evolving regulations and data sovereignty laws and ongoing security challenges must be top of mind.

Cloud 69

Cloud Financial Services Compliance Digital transformation 69

Data Protection Report

JANUARY 18, 2024

On January 3, 2024, the New York Department of Financial Services announced a consent order with GGT, where GGT agreed to pay NYDFS $8 million and to surrender its BitLicense (for cryptocurrency trading), due to alleged violations of NYDFS’ cybersecurity and its virtual currency regulations.

Cybersecurity 109

Cybersecurity Financial Services Compliance Encryption 109

Hunton Privacy

JUNE 9, 2022

Licensees are wholly exempt from the law if they are compliant with the New York Department of Financial Services Cybersecurity Requirements for Financial Services Companies (23 NYCRR §§ 500.0 to 500.23) and they submit a written statement to the Commissioner certifying such compliance.

Insurance 107

Insurance Security Information Security Cybersecurity 107

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

Thales Cloud Protection & Licensing

NOVEMBER 20, 2023

The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. Behind every system, software, and security protocol stands a human being.

Retail 83

Retail Cybersecurity Financial Services Encryption 83

IBM Big Data Hub

JANUARY 11, 2024

When AIs are trained with content found on the internet, they may often provide convincing and believable dialogss, but not fully accurate responses. Applications on known platforms with thousands of lines of code are ideal training grounds for generative AI models like IBM watsonx Code Assistant for Z.

Digital transformation 108

Digital transformation Cloud Financial Services Business Services 108

IT Governance

OCTOBER 13, 2023

EvilProxy phishing campaign targets Microsoft 365 accounts via indeed.com A phishing campaign identified by Menlo Security has been targeting senior executives in various industries – most notably banking and financial services, property management and real estate, and manufacturing – since July.

Phishing 105

Phishing Financial Services Manufacturing Personal data 105

IT Governance

NOVEMBER 23, 2023

Perhaps even more concerning to EU lawmakers is how dependent society at large is on banking and other financial services. In turn, financial institutions heavily depend on ICT to be able to provide those services to begin with. That really shouldn’t surprise us – these are lucrative targets for cyber criminals.

Risk 104

Risk Data breaches Authentication Financial Services 104

The Last Watchdog

NOVEMBER 9, 2020

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.

IoT 277

IoT Passwords Artificial Intelligence Risk 277

IBM Big Data Hub

FEBRUARY 23, 2024

DL models can improve over time through further training and exposure to more data. HR and internal processes: Conversational AI applications streamline HR operations by addressing FAQs quickly, facilitating smooth and personalized employee onboarding, and enhancing employee training programs. AI training is a continuous process.

Analytics 104

Analytics Artificial Intelligence Marketing Education 104

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

Security Affairs

MARCH 19, 2022

. “AvosLocker is a Ransomware as a Service (RaaS) affiliate-based group that has targeted victims across multiple critical infrastructure sectors in the United States including, but not limited to, the Financial Services, Critical Manufacturing, and Government Facilities sectors. Consider installing and using a VPN.

Ransomware 101

Ransomware Passwords Encryption Financial Services 101

Thales Cloud Protection & Licensing

DECEMBER 20, 2023

This development model enables enterprises to conduct model training and processing directly at the edge or on-premises. By moving computation and model training to the edge, organizations can train their models locally without uploading datasets to hyperscalers or relying on foundational models.

Cybersecurity 83

Cybersecurity Blockchain Artificial Intelligence Encryption 83

eSecurity Planet

AUGUST 9, 2022

Other industry standards too can have the force of “pseudo-law” – notably, the NIST Cybersecurity Framework, which federal regulators often apply to financial-services firms and government contractors. See the Best Cybersecurity Awareness Training for Employees. Automating IT Compliance with Security Compliance Tools.

Data Privacy 137

Data Privacy Compliance Privacy Security 137

IBM Big Data Hub

JUNE 7, 2022

The announcement highlighted the crucial role of training data, and the terrible consequences of using data that “fails to represent American society.”. As an example, a large financial services firm could easily deploy hundreds or thousands of AI models to assist decision makers in various tasks.

Government 52

Government Financial Services Compliance Cloud 52

AIIM

MARCH 3, 2020

Too often I hear one of two, equally bad answers: Keep Records for Seven years: This seems to be the de facto answer, especially for financial services records. Internal Revenue Service rules around when they can audit individual and corporate tax returns. As near as I can tell, this comes from the U.S. And they will!

Records Management 161

Records Management Financial Services Big data Analytics 161

Security Affairs

FEBRUARY 14, 2022

The European Central Bank remarks on the importance of training the staff on cyber threats, the central bank has also been running specific cyber drills to simulate cyber attacks against their infrastructure. Enria explained that European banking institutions need more cybersecurity experts.

Financial Services 76

Financial Services Cybersecurity Risk Security 76

IT Governance

FEBRUARY 28, 2018

Healthcare was the most affected industry (76%) and financial services the least (45%). End users – and human error – is so often the weakest link in your security, but well-trained users can be your strongest asset.” Have you provided ransomware training? A further 31% are expected to fall victim in the future.

Education 74

Education Ransomware Phishing Financial Services 74

Data Protection Report

APRIL 22, 2021

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. Training and monitoring materials. NSC), relating to violations of three different requirements of the NYDFS cybersecurity regulation during the period 2018 to 2020.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

The Last Watchdog

MARCH 31, 2020

Over the years processes, training and tooling to account for data privacy and data integrity have been woven in, driven by data breach lawsuits and the rise of data handling regulations. Fast-and-risky DevOps has forced a philosophy shift at large companies accustomed to top down decision making. Enter DevOps.

Security 164

Security Privacy Financial Services Risk 164