Data security

Bangladesh's central bank has suggested the Federal Reserve Bank of New York had a "major lapse" in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg.

The tension between the desire of government agencies to gain more access with greater ease, and the public’s evolving perception of data privacy rights, is ongoing and writ large in the case of FBI vs. Apple, which brings the complexities regarding security technology such as encryption to light.

Many moons after the U.S. payment industry adopted a largely chip-and-signature approach to EMV instead of chip-and-PIN security that’s standard elsewhere, rising merchant chargebacks are leading some to question the wisdom of PIN-free payments.

Bangladesh's central bank has suggested the Federal Reserve Bank of New York had a "major lapse" in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg.

Eduardo Saverin, a cofounder of Facebook, is set to buy the assets of Jumio in bankruptcy proceedings of the startup focused on online identity verification.

Technology at many banks has been assembled haphazardly over years. That makes for complex systems with lots of connections. Those points are prime targets for cybercriminals to find a way in.

A cybersecurity panel at the Women in Finance and Technology Symposium Thursday explored ways to enhance communication and collaboration between different branches of government working to strengthen the nation's cyberdefenses.

Like any well-run business, the Dridex cybercrime gang is growing and diversifying. It's stepping up its efforts to break into banks, through increased phishing attacks and ransomware.

As government and private sectors build up their defenses against mounting cyberattacks, a sharper focus on the "risk in the seams" of payments and data networks is needed, experts say.

American Express has filed a notice with the attorney general in California informing some of its cardholders that their account information may have been compromised.