To fight threats, security practitioners need to develop a proactive, offensive risk quantification strategy to establish cyber resilience, says Shaik J. Ahmed, vice president of risk, governance and information security at Mashreq Bank.
For Santosh Kamane, head cybersecurity, risk management and business continuity at DBS Asia Hub 2, privacy regulations play a huge role in improving the security posture of enterprises, including banks.
As Russia masses troops on its border with Ukraine, the White House says Russian disinformation campaigns have been aimed at destabilizing Ukraine's government, while experts have seen a surge in "cyber intrusions" against infrastructure, banking and government targets in advance of a potential invasion.
The banking and financial services sector is the single most important target for cybercriminals. Banks and financial institutions safeguard incredibly sensitive data of users and employees alike, and data breaches can be costly both in terms of leaked data and financial penalties incurred. Cybercriminals constantly...
In the financial services sector, email correspondence may contain sensitive personal or legal information, and it’s often critical that this information be actioned within a strict deadline. For your brand to succeed, your clients must be able to trust you with the integrity of their confidential data — this...
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The U.S. Federal Trade Commission reports that impostor scams were the #1 type of fraud reported by consumers last year, with losses to American consumers nearly $30B. UK Finance reported an increase in authorized push payment fraud last year with loss of more than £479M, and top UK bank Barclays reported a 20%...
"Stimulus fraud" has influenced financial institutions (FIs) to shift their disposition toward managing mule activity.
This whitepaper is the product of a survey of 32 North American fraud executives as well as interviews with three fraud leaders who are actively engaged in transforming how their institutions...
A comprehensive IAM program requires integration with HR and legacy systems to enable multifactor authentication, SaaS, and Identity-as-a-Service to provide secure user access and a secure user experience, says Hong Kong-based Varun Kakkar, group head of cybersecurity at Tricor Group.
On one hand, 60% of survey respondents rate their institutions as "above average" or "superior" when it comes to mitigating fraud. Yet, 55% say their customers and partners lack sufficient awareness to protect themselves from fraud. Appgate's Bryan Jardine analyzes the Faces of Fraud survey results.
As the risks to IT and OT converge, organizations must use "zero trust" to verify user identities and build effective monitoring capabilities to track the behavior of privileged users, say Kartik Shahani of Tenable and Rohan Vaidya of CyberArk.
According to a panel of experts, protecting the Active Directory, a rich target for increasing ransomware attacks, will require organizations to audit privileged accounts and endpoints with continuous monitoring and an identity governance approach.
To help balance security and user convenience, organizations should offer centralized user access to applications, says Krishnamurthy Rajesh, head of IT and information security at ICRA, an India-based credit rating agency.
Despite these financial headwinds, new ways are emerging for FIs to differentiate on the quality of fraud prevention and outreach they can provide to customers.
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