Compliance

Labor costs constitute a major piece of banks' spending on preventing financial crimes despite technological advancements, and costs are leveling off despite new legislation. Here's why.

An attacker spirited away about $100 million from the decentralized finance provider Mango by manipulating the price of its token in an exploit that wiped out depositors on the crypto platform.

The bank claims it has migrated all traffic from third-party apps and services to its secure API.

Investment banks were ordered to pay $1.8 billion in fines last week for employees' unmonitored communications on messaging apps like WhatsApp. Experts say other banks could also be subject to such fines if they're not careful.

A criminal group called Prilex has stolen millions in a scheme involving fake repair people installing malware on point of sale terminals.

FS-ISAC will test banks' cybersecurity defenses in "hyper-realistic" simulations of malware, phishing and ransomware attacks.

After a yearlong investigation by the Securities and Exchange Commission, large investment banks including BofA, Citi and Deutsche admitted they failed to monitor their employees on certain messaging channels such as WhatsApp.

The company has built an ability to connect employees' communications to their behavior, to root out any policy violations and show regulators a bank is doing enough to comply.

The Tennessee company said the cyberattack took place in late January and early February.

The breach was quickly followed by fake text and app messages to customers that appeared to come from the challenger bank.