The year 2023 has seen a dramatic surge in cyberattacks specifically targeting the financial sector, marking a 53% increase compared to previous years. This alarming statistic is highlighted in the Threat Landscape Report by S21Sec, a comprehensive analysis focusing on global cybercrime trends
In the constantly evolving landscape of cyber threats, the financial sector finds itself at the epicenter of increasingly sophisticated and costly data breaches. According to the IBM Cost of a Data Breach 2024 report, the financial repercussions of these breaches are escalating, demanding more
As enforcement of the European Union’s Digital Operational Resilience Act (DORA) looms on the horizon in January 2025, banks and their IT suppliers brace for an era of tougher cybersecurity and IT management standards. Passed last year, DORA mandates rigorous IT risk management protocols, digital o
The transformation of digital wire transfers within the modern financial landscape represents a significant shift towards efficiency, security, and real-time processing. With the advent of new technologies such as APIs and the Federal Reserve's FedNow® Service, the way money moves between
The realm of cybersecurity is ever-evolving, with new threats emerging continuously. One of the most recent threats targeting Android devices is the Chameleon banking trojan. This malicious software poses as a harmless application, fooling users into installing it and subsequently compromising
Financial institutions are facing mounting pressure to innovate and modernize their systems without disrupting their operations. Addressing this challenge head-on, Zafin and 10x Banking have announced a strategic partnership focused on incremental modernization of core banking systems. This
