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FTC Beefs Up Security Mandates For Financial Sector
The FTC has made changes to the Safeguards Rule aimed at securing consumer data in the financial industry.
FinCEN Warns of Evolving Ransomware Money Laundering Efforts
A Financial Crimes Enforcement Network (FinCEN) report showed cybercriminals switching up their money laundering efforts, in order to avoid detection by law enforcement.
Credit Union Sues Fintech Vendor for Security Lapses
Bessemer System Federal Credit Union is suing Fiserv for not fixing the security issues in its banking platform, and says that thousands of small banks and credit union using the same software don’t even know their customer data is also vulnerable.
Mozambique’s Scheme to End SIM Swap Fraud
Mobile payments are very popular in African companies and SIM card fraud is a massive problem. At the Kaspersky Security Analyst Summit, CERT Mozambique discussed how the banks and mobile operators worked together to ensure thieves didn't loot customer accounts just by stealing phone number.
Criminals Stole SEC Filings in Insider Trading Scheme
The Securities and Exchange Commission’s civil complaint outlining the details of an international insider trading scheme is an object lesson in how cybercriminals can monetize _any_ information, not just customer records or intellectual property.