Compliance

The gang allegedly had been involved in some of the highest-profile ransomware attacks against financial institutions of recent years.

New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.

Customers with deferred compensation plans at the bank had personally identifiable information compromised through a third party, Infosys McCamish.

The cybersecurity leaders argued in a recent court briefing that the SEC's lawsuit against the SolarWinds CISO could harm the profession at large.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

The Federal Reserve's vice chair for supervision also said he expects cyber threats against the financial services industry to become increasingly disruptive.

Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial services and housing industries.

SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.

Many of the attack vectors, including ransomware and phishing, will likely continue to plague the industry through 2024.

Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.