Category: Operational

April 27, 2020

The toolkit of effective practices aims to assist financial institutions in their cyber incident response and recovery activities. Cyber incidents pose a threat to the stability of the global financial system. In recent years, there have been a number of […]

April 20, 2020

One of the largest consumer credit reporting agencies in the country has agreed to pay $18.2 million and undertake significant injunctive relief following a massive data breach in 2017 that compromised the personal information of nearly three million Massachusetts residents, […]

March 23, 2020

For almost as long as businesses have been subject to risk, some form of insurance has existed to mitigate their exposure. The first recorded commercial insurance policies date back to Babylonian times, and in the thousands of years since, the […]

March 13, 2020

In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of confusion and market instability in the wake of the virus’ spread across the globe. “Watch out for scams related to coronavirus […]

February 25, 2020

The bank, fourth-largest in the US, will pay the hefty fine to both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The SEC will receive around $500 million of the total figure, which it plans […]

February 11, 2020

The United States has charged four Chinese military hackers in the 2017 breach of the Equifax credit reporting agency that affected nearly 150 million American citizens, Attorney General William Barr said on Monday. “This was a deliberate and sweeping intrusion […]

February 3, 2020

The Department of Finance Canada set up an Advisory Committee on Open Banking in 2018 to investigate whether the country should follow the UK in making it easier for people to let third party financial services providers access their banking […]

January 20, 2020

The report models how a cyberattack on a single large bank, a group of smaller banks or a common service provider can be transmitted through the wholesale payments network. The researchers estimate that a hit on a big five bank […]

October 1, 2019

The Cyber Security Advisory Panel (CSAP) convened in late September, in a discussion chaired by MAS managing director Ravi Menon. It found that risk culture was often a contributing factor during cyber incidents. According to MAS, CSAP members highlighted that […]

September 3, 2019

The partnership will see Volkswagen use OneSpan’s mobile application security to protect its financial transactions and secure compliance with the Second Payments Services Directive (PSD2). OneSpan, which works with half of the top 100 global banks, has created a bespoke […]