The law gives residents more — and welcome — control over their data. But it will take work for credit unions to meet the new requirements, such as possibly having to amend third-party vendor agreements.

Biometrics make sweeping attacks harder to pull off, but fraudsters are finding new ways to target vulnerable groups of customers.

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year.

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.

State regulators and advocacy groups say a federal breach notification standard could supersede state laws that already benefit consumers.

Once personal and financial information is accessible to criminals, it feeds the pipeline of future cybercrime for years to come, writes Ryan Wilk, vice president of customer success for NuData Security.

Hackers are illegally generating Monero, Bitcoin and other cryptocurrencies by exploiting a software flaw that was leaked from the U.S. government, raising questions about the security of one of the fastest-growing corners of financial markets.

While nearly all banks, financial institutions and other organizations have a disaster recovery strategy in place, it’s clear that these plans are not enough to ensure these organizations remain online, regardless of what happens, according to Gijsbert Jassen van Doorn, technology evangelist at Zerto.

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

Organizations that lack security controls and have experienced a breach can expect auditors, regulators and standards bodies to knock on their doors demanding information, writes Fouad Khalil, head of compliance and SecurityScorecard.