A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.
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.
Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach.