Data security

The Illinois commercial bank gained a new role when it realized it shared the same digital transformation challenges as its customers.

Eight states want the credit bureau to show what it’s doing to improve data security; Goldman, Morgan Stanley and Wells Fargo will be the focus of this set.

In the past few years of fighting against cyberattacks, security teams have developed "kill chain" models that document what steps the bad guys take to infiltrate a network and how to thwart them. The problem is, a significant number of data breaches occur from insider threats, which these models often overlook.

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

Ticket sales company Ticketmaster has warned customers in the U.K. that malicious code running on its website could have led to personal data and payment details being stolen. This kind of breach through third-party JavaScript code is quite common and may go undetected for months.

Capital One Financial Corp. is limiting how account data flows to outside apps for managing finances, prompting a backlash from the bank’s customers who say they have been locked out of their own information.

Payments fraud from business email compromise, or BEC, occurs when scammers use phishing tricks and email to fool businesses into making fraudulent payments to perceived suppliers. Experts suggest newer factors are accelerating the trend.

HSBC is the first bank in the U.S. to deploy SoftBank's lifelike Pepper robot in a branch to help customers learn about bill pay, remote check capture and even ask the weather — but in Pepper's current iteration, it won't take deposits or payments.

Almost two-thirds of financial institutions have yet to form threat hunting teams — a growing necessity as the number of high-profile attacks rises.

Called Mezu, the P2P platform has been live for about a week and uses a location-based code to execute payments, avoiding the need to even share usernames or other identifying information to move money.

Malware operators are joining forces, installing each others’ tools on compromised computers to target a wider range of victims, and possibly also sharing the work of harvesting funds using stolen account details.

Visa, which was criticized for its vague explanation of a June 1 outage in Europe, was in the process of installing better technology, but the project was not complete at the time of the incident and won't be finished until the end of this year.

The Dixons Carphone hack shows again that merchants and payment companies need to do more to make data unattractive to thieves, according to Robert Capps, vice president of NuData Security, a Mastercard Company.

Of all the types of malicious software targeting businesses, ransomware continues to be one of the most pervasive, according to recent studies. Here's an overview of the things banks, especially small ones, are doing to stop it.

Readers respond to a bill designed to modernize the anti-money-laundering rules, applaud the acting head of the CFPB’s decision to fire the members of the bureau’s advisory councils, opine on when a bank ought to communicate it has been hacked and more.

PCI compliance can take time and is expensive, but it's a vital part of security and there are ways to mitigate the resource challenges, according to Justin Shipe, vice president of information security for CardConnect.

That’s the question executives of publicly traded banks are asking themselves as they try to make sense of new — and somewhat vague — guidance from the SEC on procedures for disclosing data breaches.

Retailer associations and debit network providers have formed the Secure Payments Partnership, designed to address the ongoing problem of payment fraud.

Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.