Data security

Research shows the number of fraudulent transactions and dollar amounts involved are soaring as merchants increasingly go digital. Credit card and other companies are expected to more than double what they invest in AI and other tech to fortify their systems.

Bankers were given a chance to weigh in on a new breach notification proposal, and federal regulators apparently took their comments to heart before issuing the final rule.

A new report finds that financial companies are the most targeted by fraudsters seeking to steal usernames and passwords. They're fighting back with specialized tracking technology, special domain names and other increasingly sophisticated techniques.

Banks must report major cyberattacks to regulators within 36 hours if the incident is likely to disrupt their business, according to a new rule from U.S. regulators.

Criminals are finding weaknesses in the complex network of applications on banks' sites and exploiting them to launch attacks.

The company, whose software is used by four of the top five U.S. banks, says it will use the money to improve its identity verification and fraud detection technology.

After vowing for months to crack down on ransomware, the Biden administration and allied countries unleashed a string of actions Monday against one of the most prolific hacking groups and also issued sanctions against cryptocurrency entities that allegedly enable such attacks.

If law enforcement concludes that the company's devices were used in a cyberattack on U.S. companies, banks may need to change the way they choose, test and monitor point-of-sale equipment.

The decision came prior to news of a federal investigation of PAX Technology and a raid of its Florida locations that has prompted inquiries from customers about the security of devices that they have relied on for making and receiving payments.

The DeFi protocol Cream Finance suffered yet another 2021 hack in an exploit that stole at least $130 million and could be one of the largest thefts in decentralized finance.

The credit bureau's $638 million deal to buy the ID verification firm is its second M&A agreement in a little over a month to broaden its line of products and services that help customers combat fraudsters and identity thieves.

Cybersecurity teams are using scoring systems, standard formats and other tactics to prioritize the deluge of alerts they're receiving about commonly used programs.

The Justice Department is creating a new team to investigate and prevent hackers from using cryptocurrency exchanges to remain anonymous while extorting money from victims of their attacks, Deputy Attorney General Lisa Monaco said Wednesday. 

Bank of America’s online-banking platform went down for several hours Friday, leaving thousands of customers locked out of their accounts before service was restored.

A bug in a recent update of the decentralized finance platform Compound sent users nearly $90 million worth of cryptocurrency in error, leaving its creator’s CEO begging users to voluntarily send it back.

The U.S. subsidiary of Japanese banking giant Mitsubishi UFJ Financial Group has entered into a consent order with the Office of the Comptroller of the Currency that requires it to improve its information security protocols, hire more IT staff and create a board-level committee to monitor its progress.

President Biden urged a group of chief executive officers to help improve cybersecurity across the nation’s critical infrastructure and economy, citing a lack of trained professionals to adequately protect the U.S.

Email scams in which hackers siphon small amounts of money from thousands of accounts at once are on the rise. Here's what banks are doing about it.

As the need for easy-yet-secure mobile banking authentication escalates and consumers become used to logging in by looking into a camera, banks are taking the technology more seriously.