November 2, 2024 at 05:38AM The UK’s Financial Conduct Authority (FCA) urges financial institutions to enhance resilience against IT failures, highlighted by CrowdStrike’s significant outage affecting major banks and services. Compliance with FCA’s PS21/3 rules is necessary by March 2025. Delta Air Lines is suing CrowdStrike for losses related to the incident, alleging negligence. **Meeting … Read more
October 30, 2024 at 03:10PM Casap has raised $8.5 million in funding to expand its AI-powered disputes automation and fraud prevention platform for banks and fintechs. Led by Lightspeed Venture Partners, the investment aims to reduce operational costs and enhance customer experiences by swiftly resolving disputes and chargebacks. Casap’s technology significantly improves efficiency in handling … Read more
October 14, 2024 at 11:51PM India’s Reserve Bank Governor, Shri Shaktikanta Das, cautioned that while AI offers financial growth opportunities, it also poses systemic risks and concentration concerns in the financial sector. He emphasized the importance of risk mitigation measures for banks and highlighted the need for improved cross-border payment systems and vigilance against misinformation … Read more
September 3, 2024 at 06:48AM A new Android banking trojan named Rocinante targets mobile users in Brazil, capable of keylogging and stealing personal information from victims. The malware can masquerade as various banking apps and is linked to a threat actor known as DukeEugene. Symantec also highlighted a banking trojan campaign targeting Spanish and Portuguese-speaking … Read more
August 14, 2024 at 02:45PM Digital Align Inc. in Fremont, Calif., achieves SOC 2 Type 2 certification, verifying their security controls meet industry standards for sensitive data handling. The platform streamlines operations for financial institutions, strengthening decision-making and internal efficiency. Industry leaders commend Digital Align’s commitment to data security and compliance, recognizing the company’s valuable … Read more
July 8, 2024 at 06:24AM Latin American financial institutions face a surge in cyber attacks from the Mekotio banking trojan, targeting countries like Brazil and Mexico to steal banking credentials. Trend Micro observed a rise in attacks distributing this Windows malware, as well as the emergence of a new trojan codenamed Red Mongoose Daemon, posing … Read more
July 2, 2024 at 09:23AM The breach at Evolve Bank & Trust has impacted its partners Wise and Affirm, with personal data of Affirm Card holders potentially stolen. The scale of the breach is still unclear, and Wise confirmed that some of its users may have been affected. Evolve faces additional scrutiny due to previous … Read more
June 24, 2024 at 10:03AM The recent settlement between the US Securities and Exchange Commission (SEC) and Intercontinental Exchange Inc. (ICE) emphasizes cybersecurity and corporate accountability issues. The severe cyberattack on ICE’s subsidiary exposed sensitive information and highlighted inadequate cybersecurity measures. The SEC’s proactive investigation and the $10 million settlement underscore the need for robust … Read more
April 4, 2024 at 07:03PM Visa issued a security alert warning about increased detections of the JsOutProx malware targeting financial institutions in South and Southeast Asia, the Middle East, and Africa. The malware provides remote access and can execute various malicious activities. Mitigation actions and indicators of compromise were recommended, and the campaign involved phishing … Read more
February 26, 2024 at 05:15AM Cybersecurity researchers are cautioning about a surge in email phishing campaigns utilizing Google Cloud Run to distribute banking trojans Astaroth, Mekotio, and Ousaban. Malware distribution campaigns using the same Google Cloud storage bucket have been observed since September 2023. Phishing activities are further facilitated by the availability of phishing kits … Read more