Cyber attacks

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.

That’s the question executives of publicly traded banks are asking themselves as they try to make sense of new — and somewhat vague — guidance from the SEC on procedures for disclosing data breaches.

Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach.

Among the findings, credit unions may not be doing enough to protect against malware, which involved in nearly 40 percent of hacking incidents, as well as Trojan botnets and denial of service attacks.

The spread of breached identity information has resulted in an outbreak of new account creation fraud with a new ground zero for the crimes pointing right at Latin America.

Cyberattackers attempted to penetrate Mexico's electronic payment systems Friday, forcing three banks to enact contingency plans, according to people familiar with the matter.

Companies that handle sensitive customer data have even more to worry about when making an acquisition. Not only do they have to be sure the acquired company has good security, but they can't let their guard down even after the acquisition closes.

Whether due to costs, growing cyber threats or other factors, a growing number of credit unions are outsourcing an important C-level security role.

AI relies on catching the malware itself at a later stage, once it begins to operate in the system, and that's not enough to combat breaches and payment systems, according to Mordechai Guri, chief science officer at Morphisec.

The one thing more valuable to consumers than their bank accounts might be their internet access — and a new version of the ‘Trickbot’ trojan targets both.

The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses has been arrested in Spain.