Data security

Phishing and ransomware attacks were among the deadliest for financial institutions in the past year.

Hacks of banks, credit unions and insurance companies compromised the data of millions of consumers, who filed a flurry of class actions in response.

The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

Banking companies are increasingly using application programming interfaces that transfer customer information to third-party money-management apps popular with consumers. But fraudsters are exploiting vulnerabilities in the technology to steal information.

Security researchers recently infiltrated a cybergang that stole account credentials with convincing, spoof websites. Could an ABA-endorsed solution help?

The security company OneSpan has launched a new line of such products for financial institutions. Some are skeptical that stand-alone authentication devices are necessary.

The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.

A Bloomberg News analysis found more than 45 groups and pages — with more than 1 million combined members — where the spoils of cyber crimes and the tools needed to carry them out were offered for sale.