Cyber attacks

With an ever-increasing number of unsecured devices connected to one another, the potential for cyberattackers to overwhelm any organization is a clear and present danger.

Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

Speakers at PSCU's 2017 Member Forum offered insights on a host of issues related to payments, cybersecurity, leadership and more.

Financial services was the top industry targeted by malware in 2016, so banks need to be strategic in building their defenses against attacks.

Although the Dodd-Frank Act made some positive changes, the weight of its regulations is killing small banks, Bank of America CEO Brian Moynihan said Tuesday.

The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.

Credit unions and financial institutions are required to take steps to protect against cyberattacks, but small businesses that process payments are not doing enough to protect the security of the financial system, a credit union executive said Wednesday.

The regulations follow a series of web attacks and data breaches, and require vigorous defense, reporting and response strategies.

As more payment and financial services companies use the app store, there's vulnerability to new cyber attacks that try to take advantage.

Banks are woefully unprepared to face potential cybersecurity threats stemming from third-party technology providers, according to a report issued Wednesday by the Federal Deposit Insurance Corp.’s independent watchdog.