Data breaches

Tesco Bank has confirmed that over the weekend, some of its customers' accounts were subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.

If modified, the cybersecurity standards in New York State are a step in the right direction to protect banks and consumers.

Online lenders' struggle with fraud is driving them to join new networks designed to find links between fraudulent loan applications and signs of borrowers trying to obtain multiple loans simultaneously.

The cyberattack on internet service provider Dyn that shut down websites all over the world showed the dangers posed by internet-connected things. That includes many machines commonly used in offices and branches.

The Wells Fargo scandal is an example of what happens when a system requires you to effectively hand over the keys to your identity to strangers as if you were giving them your car keys. Moreover, it is a call to banks to restore trust and become leaders in fixing the ID problem once and for all.

Small banks have limited resources to address cybersecurity, but more are turning to advisers and auditors to develop strategies that can keep them safe and compliant.

Institutions should define data "liabilities" and "assets" and represent them in a way that both touts data successes and is transparent about data gaps.

Yahoo says no bank account or card data has been compromised in its massive data breach. Yet hackers could use their ill-gotten personal information about customers to mess with bank accounts.

Some financial companies are leery of betting on an early-stage technology such as artificial intelligence for important jobs like combating account thefts, but PayPal says it works – especially in rooting out false alarms.

With even community banks getting hit by ransomware attacks, there's a long list of cybersecurity practices that bankers can expect their supervisors to scrutinize during upcoming exams.

A director at Citizens Independent Bancorp in Logan, Ohio, resigned after members of management chastised him for an email security breach.

Federal financial regulators are incorporating lessons learned from the Swift hacks in their examinations, they told a lawmaker in a joint letter last week.

Banks have gotten better at detecting digital banking fraud, but the process of closing and reopening accounts is still a mess — and that is what could send more customers packing.

The Federal Deposit Insurance Corp. was able to access emails between staff at the agency's Office of Inspector General in a possible violation of the watchdog agency's independence, the FDIC confirmed Monday.

Many financial criminals are switching to a more sophisticated kind of identity theft in which they open accounts based on stolen identities, or on composites of information stolen from different people.

Regulators need to start paying attention to "denial-of-system" attacks as one of the triggers that could bring down a systemically important institution.

The chief executive officer of Swift, the interbank messaging system embroiled in a global bank-hacking controversy, says to expect more information about breaches to emerge as fully armoring the network's defenses is likely to take years.

The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have been a wake-up call for banking executives, but it's unclear how many of them answered it. Is it too late for them to shore up their defenses?

The Federal Reserve detected more than 50 breaches of its computer systems from 2011 to 2015, Reuters reported, adding to signs that the central bank may be vulnerable to hackers or spies.

A recent spate of breaches on Asian banks that allowed hackers access to the Swift network have resulted in finger pointing, and some calls for creating a new, more secure network. But the issues faced by Swift would likely be the same with any replacement network.