Cyber attacks

UniCredit, Italy's No. 1 bank, said hackers took biographical and loan data from 400,000 client accounts in one of the biggest breaches of European banking security this year.

As an industry, payment system providers and other IoT systems makers in all stripes and colors need to shift the paradigm and build in tamper-proof security based on their original configuration, writes Assaf Harel, CTO of Karamba Security.

At the Michigan Credit Union League’s annual conference, PayPal CEO Dan Schulman offered an overview of cyberthreats while praising the movement – an industry he considers a partner, rather than a competitor.

The ransomware attack caused fear across banks, retailers, health care and governments in May. But worse attacks may be on the horizon.

Kmart has been hit with a malware attack that has resulted in the compromise of payment card credentials for the second time in three years.

Two related and equally humiliating cases of high-level bankers completely falling for fake emails illustrate the dangers of social engineering and the need to better protect executives and other employees from themselves.

New York established the nation’s first cybersecurity regs for FIs, but the recent WannaCry ransomware attacks provide lessons for CUs well beyond the Empire State.

Up-to-date operating systems, anti-phishing tools and good backup should keep banks and CUs safe from ransomware. Can your institution check off those boxes?

Up-to-date operating systems, anti-phishing tools and good backup should keep banks safe from ransomware. Can your bank check off those boxes?

There's an outbreak of email and telephone hoaxes in France falsely attributed to the country's central bank, as criminals multiply attempts to steal credentials from French companies and consumers, the Bank of France said.

Mobile apps are becoming the playground and hiding place for cyberattacks and the criminals who orchestrate them.

One recent study says local and regional FIs face the greatest risk of losses from ransomware, but there are steps CUs can take to mitigate that risk.

Verizon's 2017 data breach investigations report reads like a psychology playbook: If you keep pounding on the same information and calls for action, some of it has to sink in at some point. But that point hasn't arrived yet.

With an ever-increasing number of unsecured devices connected to one another, the potential for cyberattackers to overwhelm any organization is a clear and present danger.

Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

Speakers at PSCU's 2017 Member Forum offered insights on a host of issues related to payments, cybersecurity, leadership and more.

Financial services was the top industry targeted by malware in 2016, so banks need to be strategic in building their defenses against attacks.

Although the Dodd-Frank Act made some positive changes, the weight of its regulations is killing small banks, Bank of America CEO Brian Moynihan said Tuesday.

The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.

Credit unions and financial institutions are required to take steps to protect against cyberattacks, but small businesses that process payments are not doing enough to protect the security of the financial system, a credit union executive said Wednesday.