#DigitalBanking

THN Recap: Top Cybersecurity Threats, Tools, and Practices (Nov 04 – Nov 10)

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November 11, 2024 at 07:30AM In 2024, hackers exploit trusted cybersecurity tools, posing significant threats to banks and critical systems. A major FBI investigation targets China-linked cyberattacks using custom malware. New vulnerabilities and malware, including ToxicPanda and VEILDrive, are emerging, highlighting the need for urgent updates and enhanced security measures to safeguard against sophisticated threats. … Read more

Canadians Expected to Lose More Than $569M to Scams in 2024

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November 7, 2024 at 05:33PM In 2024, Canadian banks report a 34% decrease in fraud cases, but customers may still lose as much as $569 million, mostly due to high-value impersonation scams. BioCatch notes fraud strategies are shifting towards targeting fewer individuals for larger amounts, with younger victims emerging as primary targets. ### Meeting Takeaways … Read more

Indian bank’s IT is so shabby it’s been banned from opening new accounts

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April 25, 2024 at 02:35AM India’s central bank has banned Kotak Mahindra Bank from acquiring new customers through its online platforms due to deficiencies in IT systems and non-compliance. The bank’s security measures were found insufficient, impacting over 41 million customers and causing outages. The Reserve Bank aims to lift the ban if Kotak Mahindra … Read more