Data and information management

When the U.S. announced sanctions against Russia two weeks ago, many feared U.S. banks would bear the brunt of a payback cyberattack. Experts disagree on why that hasn't happened and whether the danger has passed.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

The omnibus legislation includes two measures that affect the banking industry: a cyber incident reporting requirement and Libor transition fix.

The data aggregator and challenger bank have formed a partnership to let customers of Green Dot’s mobile banking app use any of the 6,000 fintech apps in Plaid’s ecosystem.

Lake Shore Savings Bank said in a regulatory filing that during the incident, employees temporarily lost access to internal systems and data. It is one of several financial institutions that have disclosed cybersecurity attacks in 2022.

European banks operating in Russia are preparing to separate those business from their main computer systems to reduce their vulnerability to cyberattacks following the invasion of Ukraine.

The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.

The legislation by Sens. Rob Portman and Gary Peters has bankers worried about burdensome reporting requirements.

Early Warning Services, which operates the Zelle peer-to-peer payments network, is working to educate consumers about common scams, but it faces criticism over how its banks respond to victims.

The hacker group is threatening to publish personal data from multiple U.S. financial institutions and using known vulnerabilities to get into their systems.

The impact of U.S. sanctions against Russia on U.S. banks has so far been limited. But further escalation could lead to anti-money-laundering compliance challenges and invite cyberattacks, among other consequences.

With tensions high between Russia and the West, Synechron is looking to develop a real-time kill switch that can shut down a malware threat. The company’s PayTech Accelerator is also focusing on the opportunity for banks in buy now/pay later lending.

Amid Russia’s invasion of its neighbor, cybersecurity officials are warning about the potential for an unconstrained cyberattack on targets in Ukraine to spread around the globe.

Eighty percent of banks plan to spend more to strengthen their safeguards against malware, phishing and other threats in the next 12 months, but only about half are vetting their defenses each year, according to a new Arizent survey. Read on for more findings.

Roughly two dozen countries have issued central bank digital currencies or have pilots underway. But until financial services firms strengthen the security of their mobile apps, these payment tools are unlikely to gain widespread acceptance.

A new wave of cyberattacks is targeting banks and other companies, two research groups have found.

Changing consumer expectations, new workplace realities and increasing demand for third-party access to data are pushing companies to re-invent cybersecurity's role for the future.

Changing consumer expectations, new workplace realities and increasing demand for third-party access to data are pushing companies to re-invent cybersecurity's role for the future.

Super Bowl ads' impact, another overdraft-fees ouster, and more in banking news this week.

Thomas Vartanian, a banking lawyer and former federal regulator, has co-founded the Financial Technology & Cybersecurity Center to address a fundamental question: Is the internet the right tool for the job of modern banking?