Data security

Credit union examiners will be focused on cybersecurity, BSA compliance, fraud prevention and more.

With the increased demand for heightened security and the increased costs, there will also be a growth in attacks from nation-state actors, writes Antwayne Ford, president and CEO of Enlightened.

In a long-standing tradition, Credit Union Journal asked IT professionals to share the new things they’d like to have to help them have a successful new year. From data centers to more staff, their technology wish lists will keep Santa plenty busy.

Seven trade associations — including those representing banks and credit unions — sent a joint letter to Congress outlining data security standards for entities that handle financial data.

Thousands of rank-and-file merchants are gaining access to validated point-to-point encryption (P2PE) for protection from malware within payment terminals, an attack vector that other popular security technologies might miss.

It was a bad year for the CEO of Equifax, the founder of a high-flying fintech and the regulatory agency bankers love to hate.

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

The Federal Deposit Insurance Corp. approved a $2.09 billion budget for 2018, a 3% reduction from 2017, with cuts to receivership funding and nonpermanent staff.

Stolen payment card data is a bad investment. There's just far more stolen payment credentials available than the "market" will bear.

The U.S. blamed North Korea for the WannaCry ransomware attack that affected hundreds of thousands of computers globally this year.

A panel of experts says the credit union movement still has a lot to learn about stopping data breaches, but emerging technologies can help mitigate risk factors in the year ahead.

Mary Mack adds mortgage and auto units to her already large portfolio; futures price dips but volume up compared to Cboe’s first day of trading.

One of the indirect offshoots of Brexit is a government program that's designed to keep the U.K. relevant by lending a hand to new companies.
The program, FCA Innovate, may have a global effect by nurturing companies that aim to retire static authentication modes such as usernames and passwords.

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened.

In a move designed to strengthen its capabilities for integrated payments, processor and technology provider Total System Services has agreed to acquire Cayan for $1.05 billion. The news shortly follows another deal valued in the billions — Thales agreeing to buy the chip maker Gemalto for $5.4 billion.

Bank of Canada governor says digital currencies could cause “significant disturbance”; JPM testing quantum computing's abilities.

The Trump administration's first interagency assessment of systemic risk highlighted many of the same worries as previous reports, but added a new emphasis on economic growth and regulatory tailoring.

Departing central bank chief says colleagues are committed to strict bank regulation; marketplace lending not living up to promises as delinquencies continue to rise.

Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.

To help its member banks avoid the nightmare of a data breach, Swift is requiring they take the necessary security steps to establish a strong baseline of cyber defense. And Swift intends to make sure its banks all follow the same procedures.