Cyber attacks

It's difficult to predict exactly what might be the next threat to the financial system. Here's a roundup of some prime suspects.

Members can play an integral role in helping credit unions fight fraud, but only if they have the right training.

Analysts are split on whether cyber threats have evolved enough for lawmakers to finally grant the National Credit Union Administration third-party vendor oversight.

JPMorgan Chase's Jamie Dimon downplayed "too big to fail," warned against the risk of cyberattacks and lectured high-tech giants about their privacy shortcomings during an appearance in Washington.

The cost of fighting fraud at financial institutions is up nearly 10 percent from last year. That means credit unions face significant challenges in being ready for the next threat.

The central bank is mulling measures to broaden the number of banks receiving reg relief; Lisa Stevens was a top deputy to the former retail chief during the phony accounts scandal.

Every month, from January to April of this year, there were roughly 3.2 billion attacks perpetrated by malicious code that infiltrated business' networks. Representatives of smaller financial institutions disputed the notion that they are one of the weak links in the chain.

A recent bill to update data breach notification requirements has pitted state and federal credit union trade groups in opposing camps.

The time is now for Congress to enact stricter data security standards that better protect credit unions and consumers.

Andrei Tyurin, a Russian citizen who is alleged to have performed key cyber work in a hack of JPMorgan Chase and several other companies, was extradited to New York on Friday from the republic of Georgia.

Citigroup was so impressed with a test drive of AI software it invested in its maker; the FBI's warning of a cyberattack targeting ATMs came to pass — expect more to come; debating whether state AGs can serve as de facto CFPBs; and more from this week's most-read stories.

One community bank decided it can build closer relationships with business clients by hosting events to help them learn how to fortify their cyberdefenses.

As the state phases in tougher requirements from its 2017 regulation, federal agencies continue to show an interest in updating their cyber policies.

Cybersecurity remains a chief concern for small credit unions as a panel of experts warns small CUs may not just be a target, they could be one step in a larger attack.

Concern over Exobot is spreading beyond banking and across other sectors where customers regularly transact online, from e-commerce and retail to health care, writes Don Duncan, security engineer for NuData Security.

Wire and other payments fraud affected a record number of businesses last year, and the FBI is warning in particular about real estate scams.

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

Small banks are being warned to slow down mobile tool development and check vendor arrangements, as researchers repeatedly find vulnerabilities that can be exploited by cybercriminals.

Chris Furlow, who was a founding staff member at the Department of Homeland Security, is now the president and CEO of the Texas Bankers Association.

Of all the types of malicious software targeting businesses, ransomware continues to be one of the most pervasive, according to recent studies. Here's an overview of the things banks, especially small ones, are doing to stop it.