Banking & Finance August 30, 2023

Cost of a data breach 2023: Financial industry impacts

3 min read - According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, 15% more than in 2020. In response, 51% of organizations plan to increase cybersecurity spending this…

Fraud Protection July 20, 2023

What to do about the rise of financial fraud

6 min read - As our lives become increasingly digital, threat actors gain even more avenues of attack. With the average person spending about 400 minutes online, many scammers enjoy a heyday. Old impersonation scams continue to deceive people every day, as con artists…

News April 17, 2023

UK banks stay confident as financial cyberattacks surge

4 min read - Financial service companies are undergoing a near-continuous digital transformation. As the competition heats up, banks must implement cutting-edge technologies to improve operations and enhance the customer experience. But this shift toward modernization comes with conditions, such as an increased focus…

Risk Management May 10, 2022

What do financial institutions need to know about the SEC’s proposed cybersecurity rules?

4 min read - On March 9, the U.S. Securities and Exchange Commission (SEC) announced a new set of proposed rules for cybersecurity risk management, strategy and incident disclosure for public companies. One intent of the rule changes is to provide “consistent, comparable and…

Risk Management May 3, 2022

SEC proposes new cybersecurity rules for financial services

4 min read - Proposed new policies from the Securities and Exchange Commission (SEC) could spell changes for how financial services firms handle cybersecurity. On Feb. 9, the SEC voted to propose cybersecurity risk management policies for registered investment advisers, registered investment companies and…

Banking & Finance April 25, 2021

Self-Assessment: How Can You Improve Financial Services Cybersecurity?

6 min read - It’s common knowledge that threat actors target banks. Not only might these attackers want to directly steal money, by doing this they’re also hitting the customers and the trust in the bank. If a financial institution suffers a loss, even insurance…

Threat Intelligence March 31, 2021

Threat actors’ most targeted industries in 2020: Finance, manufacturing and energy

7 min read - IBM Security’s annual X-Force Threat Intelligence Index uses data derived from across our teams and managed customers to gather insights about the topmost targeted industries every year, helping organizations manage risk and resource investment in their security programs. When it…

CISO September 16, 2020

Risk Management: How Security Can Learn to Do the Math

4 min read - Risk management is an important element in using data to get ahead of cybersecurity risks before they happen. The costs of protecting an enterprise of any size against cyber attacks continue to rise. Once a business truly understands the consequences…

March 9, 2020

Geost Banking Trojan Targets Russian Banks Via Unofficial Webpages

2 min read - Security researchers observed attackers using unofficial webpages in an attempt to target Russian financial institutions with the Geost banking Trojan.

CISO January 27, 2020

Gaining Insight Into the Ponemon Institute’s 2020 Cost of Insider Threats Report

4 min read - In our release of the 2020 Cost of Insider Threats report, we cover details on the cost of insider threats by industry and the tools and activities that can help reduce the risk of insider threats.