Data security

On Thursday, a ransomware group published data apparently stolen from Tri Counties Bank, which suffered an outage to its ATM network last month.

The group behind the ongoing campaign allegedly has the support of a hosting provider that's complicit in helping spin-up new scam websites.

Any major news provides fraudsters the opportunity to take advantage of a frenetic situation. This time, their plea for customers' banking credentials seemed extra credible.

In February's roundup of American Banker's favorite stories: An international African American sorority enters the credit union market; a deep dive into the ideology behind banks giving out free pens; and a rising number of financial institutions are facing a tightening of liquidity and more.

The strategy document identifies potential avenues for cutting cybercriminals off from financing, as well as other actions banks can take.

Rules around what, when, and to whom a bank must report in the wake of a data breach remain a key point of regulatory friction. Some hope a new federal office could help.

Financial services firms are focusing on essential risk-related priorities, but must not lose sight of the importance of innovative technologies that drive business forward.

Visa's strategy of devaluing data applies not just to its payment workflows but across the business. Visa Chief Risk Officer Paul Fabara shares more about this approach and four other cyber risk principles he follows.

To combat cybercriminals, banks and credit unions turn to white-hat hackers to uncover system vulnerabilities. But what motivates these computer whizzes can be surprising.

The personal financial management app, which has been downloaded 5 million times, was letting some users view emails and other personal information of other customers.