The Financial Services industry operates in a unique business environment with very particular requirements. Providing critical services that handle large volumes of sensitive and valuable data while meeting strict regulations for security and privacy can present significant challenges.
The U.S. National Security Agency has issued "zero trust" guidance aimed at securing critical networks and sensitive data within key federal agencies. The NSA adds it is also assisting Defense Department customers with the zero trust implementations.
Authorities have accused Serbia-based scammers of capitalizing on the "initial coin offering" bubble that began in 2017, bilking global cryptocurrency investors out of $70 million via Bitcoiin2Gen and other supposed coins and hiring actor Steven Seagal to endorse them.
Trickbot appears to be making a comeback with a fresh campaign that is targeting insurance companies and legal firms in North America, according to an analysis by Menlo Security. Researchers had warned the malware might surface again after a coordinated takedown of the botnet's infrastructure in 2020.
In Britain, the National Crime Agency and the Financial Conduct Authority warn that the number of "clone firm" scams has significantly increased during the COVID-19 pandemic. Over a six-month period, these fraudulent schemes have led to more than 78 million pounds ($107 million) in losses for victims.
With ransomware continuing to fuel a massive surge in illicit profits, some experts have been calling on governments to launch offensive hacking teams to target cybercrime cartels. They're also calling for a review of cyber insurance payouts being used to fund ransoms.
A Russian national who served as the administrator for the now-defunct Deer.io online clearinghouse - which sold stolen credentials, hacked servers and criminal services, such as assistance performing hacking activities - has pleaded guilty to a federal charge.
Terabytes' worth of posts, images and videos from conservative social media site Parler have been forcibly obtained by security researchers who have archived the material for investigators in the wake of the violent riot at the U.S. Capitol.
Adam Turteltaub, chief engagement and strategy officer at the Society of Corporate Compliance and Ethics, says compliance teams should create a dashboard of data that will help keep track of actions taken by staff members who are working remotely.
This edition of the ISMG Security Report features an analysis of the very latest information about the SolarWinds hack. Also featured are discussions of "zero trust" for the hybrid cloud environment and data privacy regulatory trends.
Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self. Financial services commentator Chris Skinner explains why state governments and AML concerns are to blame.
In less than a month, President-elect Joe Biden will be sworn into office and immediately confront a list of cybersecurity problems ranging from a now-leaderless CISA to the SolarWinds breach. Here's how security experts - and former government leaders - see the administration's cyber policies taking shape.
Britain's National Crime Agency says 21 individuals have been arrested on suspicion of purchasing personally identifiable information from the WLeakInfo website. Authorities say the site provided access to more than 12 billion personal records culled from 10,000 data breaches.
More than two years after Europe's tough new General Data Protection Regulation came into full effect, EU privacy watchdogs are finding more consensus, and consumers have been benefiting, experts say. But how regulators apply sanctions, in particular, remains a work in progress.
In the wake of the SolarWinds breach, NIST's Ron Ross has turned his attention to systems security engineering - and the reality that the adversaries are exploiting it to their advantage better than the defenders are. This disparity, Ross says, has to change.
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