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KC Fed President Backs Plans to Trim Security Holdings

By Bill Poquette, Editor-in-Chief

April 21 – Federal Reserve officials are signaling they want to start unwinding the central bank’s $4.5 trillion balance sheet. This is making some market watchers nervous about the effect on monetary policy and the economy, but consensus on the issue is elusive, with forecasts ranging from little or no effect to major disruption. (more…)

Banks Confident in Cybersecurity Capabilities But Lack of Real-World Testing Leaves Gaps in Their Defense

Many senior bank executives are confident about their cybersecurity strategy, yet a lack of comprehensive, practical testing is leaving gaps in their defense, according to a new report from Accenture.

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Increase in Cybersecurity Attacks Expected on Industrial IoT

Tripwire, Inc., a leading global provider of security and compliance solutions for enterprises and industrial organizations, has announced the results of a study conducted in partnership with Dimensional Research. The study looked at the rise of Industrial Internet of Things (IIoT) deployment in organizations, and to what extent it is expected to cause security problems in 2017.

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Financial Institutions Urged to Take Proactive Approach to Cybersecurity

March 7 – New York State has passed the nation’s first cybersecurity regulations designed to protect consumers and safeguard the security of the state’s financial services industry. While New York is the first to pursue such an initiative, financial institutions across the nation should expect similar regulations to take hold as cyber attacks continue to rise, both in numbers and intensity. DefenseStorm urges financial institutions to take a more proactive approach to cybersecurity now to not only stay steps of ahead of bad actors, but regulations that are surely around the corner for other states as well.

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When It Comes to ATM Security, Planning is Key

December 20 – While there is no silver bullet when it comes to securing ATMs, it is critical for financial institutions  to have a proactive plan in place. Fortunately, there are proven steps that FIs can take to increase their ATM security posture. In the final part of this three-part news brief series, Cummins Allison, an innovator and provider of check, currency and coin handling solutions, as well as ATMs, discusses how a detailed ATM security plan can help FIs identify and secure vulnerabilities. (more…)

As Electronic Payments and Invoicing Increase, So Do Concerns About Cybersecurity

December 5 – As every facet of the financial services industry faces the imminent shift to digital platforms, more than one-third of treasury and financial professionals have heightened awareness of the growing risks of fraud and cyber-attacks, shows TD Bank’s Treasury Management Survey. Heading into 2017, corporate treasury and finance professionals cite protecting assets, securing transactions and cybersecurity as top priorities.

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CSBS Offers New Cybersecurity Certification

November 22 – The Conference of State Bank Supervisors announced a new cybersecurity certification in an effort to promote higher standards in bank examination of cybersecurity management. The new Certified Cyber Security Examiner designation is part of a larger effort among state financial regulators to address the ongoing threat of cybersecurity within the financial services industry.

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Two-thirds of Financial Organizations Faced At Least One Cybersecurity Attack Last Year

November 8 –  MetricStream Research has released a new report, “The State of Cybersecurity in the Financial Services Industry,” which reveals that 66.2 percent of financial organizations faced at least one cybersecurity attack in the last year. The report, based on a survey conducted in July 2016, features the perspectives of C-level information security professionals in over 60 banking and financial services firms across the globe. The respondents represented financial enterprises of multiple sizes, as well as various segments, including banking, insurance, asset management, diversified financials, investment services, and foreign exchange services.

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Biometrics, Bots and the Future of Security in Financial Services

By Eric Crabtree

Not surprisingly, cybersecurity always ranks high on the list of chief concerns that cause bank CIOs to lose sleep at night. That’s because increasing levels of sophistication in the tech used by hackers and fraudsters is making it harder for financial institutions to defend themselves.

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IoT Device and Data Security Challenges and Solutions Headline the Smart Card Alliance Conference

October 24 – Executives from the Internet of Things (IoT) and security industries recently gathered in Chicago for the Smart Card Alliance’s 2016 Security of Things conference, where they provided insights and perspectives on security, privacy and authentication in the rapidly growing IoT ecosystem.

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