Inaugural global community will bring together financial regulators, central banks and supervisors to combat cyber and physical crime, enhancing financial sector resiliency
Inaugural global community will bring together financial regulators, central banks and supervisors to combat cyber and physical crime, enhancing financial sector resiliency
Bank executives have said for years that their worst nightmare is a successful cyberattack against the industry. Now they’re watching one unfold across government agencies in what could be one of the biggest hacks in U.S. history. So far, no evidence has emerged that Wall Street was a victim of the attack, which also hit Microsoft Corp.’s systems. Still, experts say...
Investment banks JPMorgan Chase & Co. and Goldman Sachs Group Inc. are backing a plan to tax carbon dioxide emissions, as former Federal Reserve Chair Janet Yellen and executives from more than a dozen Fortune 100 companies pitched senators on the idea. The executives, environmentalists, and financial experts outlined their proposal over dinner Tuesday night for...
Fourteen banks and industry trade associations from across Europe have been testing their mettle in a war-gaming WannaCry-style attack on a simulated bank network. The cyberrange exercise, hosted by UBS, follows recent predictions from the Financial Services Information Sharing and Analysis Center (FS-ISAC) that artificial intelligence will be increasingly...
Finance & Banking , Fraud Management & Cybercrime , Governance & Risk Management Central Bank Spells Out Essential Steps Geetha Nandikotkur (AsiaSecEditor) • August 8, 2019 The Monetary Authority of Singapore, the nation’s central bank, has mandated that financial institutions comply with risk management guidelines within the next 12 months in an...
Banks are familiar with the need to keep businesses running, and have been key targets of cyber-threats. As the escalating global spread of COVID-19 has led governments to order mandatory quarantines, lockdowns and other social distancing measures, businesses around the world and across many sectors have been significantly affected. Many have implemented business...
Cyber-attacks trying to trick bank employees to click on malicious links jumped in the first quarter, with criminals attempting to take advantage of fear and confusion caused by the coronavirus pandemic. While the so-called phishing campaigns, which surged by a third in the period, haven’t so far resulted in any major breaches in the industry, smaller lenders remain...
Flagstar Bancorp fell victim to a recent data breach in which personal information of employees and customers, including Social Security numbers and mailing addresses, was leaked and the thieves sought to extort some employees. The hackers exploited a flaw in Accellion’s File Transfer Appliance software, which the bank was using to secure sensitive content. Dozens of...
Julia is a partner with PwC Singapore’s Digital Regulatory Risk & Compliance practice. She is a risk and transformation specialist advising banks, wealth managers, capital markets intermediaries and non-FIs on digital transformation strategy and execution, risk & regulations, controls and governance. With over 20 years of experience, she has led core...
New York(CNN Business) Hackers are holding one of America’s most important pipelines hostage, a stunning development that should serve as a warning to even bigger targets: the nation’s financial industry. The nightmare scenario is that a Colonial Pipeline-style ransomware attack disrupts major banks or even financial markets, dealing a blow to the flow of...