Compliance

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.

The data aggregator assembled a group of technology companies that has developed a set of security standards for startups. It is open for comment ahead of an anticipated implementation in the second half of next year.

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.

Financial advisors have a variety of objectives in working with their investment-planning clients. But when all is said and done, clients are usually mainly interested in a successful road map to growing and protecting their wealth to and through retirement. Risk management is a crucial part of that plan and how wealth managers can bring value to clients. In this session Michael Moriarty, Chief Investment of Wealthspire and Rick Bookstaber, Founder & Head of Risk of Fabric will discuss how investors and markets are changing and how advisors can position themselves to excel in this new landscape.