financial industry

Financial organizations embrace automation for enhanced security

API security, automation, cybersecurity, financial industry, News, regulation, report, software, training, Veracode /

Financial organizations embrace automation for enhanced security 03/11/2023 at 07:31 By Help Net Security The security performance of financial applications generally outperforms other industries, with automation, targeted security training, and scanning via Application Programming Interface (API) contributing to a year-over-year reduction in the percentage of applications containing flaws, according to Veracode. Against a backdrop of […]

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The double-edged sword of heightened regulation for financial services

cybercriminals, cybersecurity, Data Protection, financial industry, Malware, News, regulation, report, supply chain, Trustwave /

The double-edged sword of heightened regulation for financial services 20/10/2023 at 06:04 By Help Net Security Financial services organizations are enticing targets for cybercriminals due to their significant wealth holdings, presenting abundant opportunities for monetary gain through extortion, theft, and fraud, according to Trustwave. In addition to the money itself, the financial services sector stores

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Financial crime compliance costs exceed $206 billion

Artificial Intelligence, Compliance, cybercrime, cybersecurity, financial industry, LexisNexis Risk Solutions, News, report, survey /

Financial crime compliance costs exceed $206 billion 29/09/2023 at 07:02 By Help Net Security The growing complexity of compliance regulations and ever-evolving criminal methodologies are a major difficulty for financial institutions, according to LexisNexis Risk Solutions. Global financial crime compliance costs for financial institutions exceed $206 billion. This cost is comparable to more than 12%

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Strong compliance management is crucial for fintech-bank partnerships

Banks, Compliance, cybersecurity, financial industry, investment, Ncontracts, News, report, survey /

Strong compliance management is crucial for fintech-bank partnerships 20/09/2023 at 06:02 By Help Net Security 72% of banks and credit unions are prioritizing compliance when evaluating fintechs, citing it as their top criteria in the due diligence process, according to Ncontracts. As banks and credit unions evaluate fintech partnerships, cybersecurity (62%) is also a critical

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Dark web activity targeting the financial sector

dark web, Don't miss, finance, financial industry, Hot stuff, Searchlight Cyber, Video /

Dark web activity targeting the financial sector 08/08/2023 at 07:01 By Help Net Security In this Help Net Security video, Jim Simpson, Director of Threat Intelligence at Searchlight Cyber, discusses threats against the financial sector. Threat actors will invariably target banks, yet by keeping an eye on the dark web, these institutions can identify illegal

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A fresh look at the current state of financial fraud

cybercrime, cybersecurity, Don't miss, financial industry, fraud, Hot stuff, strategy, tips, Video /

A fresh look at the current state of financial fraud 20/07/2023 at 07:02 By Help Net Security In this Help Net Security video, Greg Woolf, CEO at FiVerity, discusses how the emergence of sophisticated fraud tools powered by AI and recent upheavals in the banking sector have forged an ideal environment for financial fraud. This

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How Google Cloud’s AML AI redefines the fight against money laundering

Artificial Intelligence, Compliance, Don't miss, Features, financial industry, Google, Google Cloud, Hot stuff, News, opinion /

How Google Cloud’s AML AI redefines the fight against money laundering 12/07/2023 at 07:02 By Mirko Zorz Google Cloud’s AML AI represents an advancement in the fight against money laundering. By replacing outdated transaction monitoring systems and embracing AI technology, financial institutions can now stay ahead of evolving financial crime risks, improve operational efficiency, ensure

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Flaw in Revolut payment systems exploited to steal $20 million

Don't miss, financial industry, Hot stuff, News, Picus Security, Revolut /

Flaw in Revolut payment systems exploited to steal $20 million 10/07/2023 at 17:05 By Zeljka Zorz Organized criminal groups exploited a flaw in Revolut’s payment systems and made off with $20+ million of the company’s money, the Financial Times reported on Sunday, citing people with knowledge of the situation. Revolut’s cybersecurity troubles Revolut is a

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7 access management challenges during M&A

data, Don't miss, Expert analysis, Expert corner, financial industry, Hot stuff, opinion, SecureAuth, threats /

7 access management challenges during M&A 23/05/2023 at 07:37 By Help Net Security Integrating an acquired company into a single organization is a daunting task that can take weeks, months, or even years to complete. To have a successful conclusion to the mergers and acquisitions (M&As) process, identity and access management (IAM) teams need time

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