Data Security & Fraud Prevention
SWIFT, the global cooperative billed as the world's leading provider of secure financial messaging services, revealed Monday that thieves who stole $81 million from the Bangladesh central bank in February probably hacked into the SWIFT financial platform.
Elliptic, a blockchain intelligence firm that uses machine learning to root out fraudulent blockchain transactions, has raised $5 million from private equity investors. The funding round was led by Paladin Capital Group and included participation from Santander InnoVentures and others.
Majority of executives expect to suffer security breach with average cost near $1 million, study shows
Executives lack confidence in their firms' preparedness against a security breach, according to a new study. Sixty-five percent of executives polled are either pretty sure or certain that they will suffer a breach, with breaches costing companies an average of $907,053.
IBM has acquired IRIS Analytics, a privately-held company specializing in real-time analytics for combatting payment fraud.
Recent studies show that cybercrime is rising as one of the banking industry's most pressing threats. An Israeli startup said that's because the prevalent method of encryption has been around long enough for cybercriminals to have perfected ways for exploiting its weaknesses.
In an effort to better protect aging clients who may have diminished capacity, Fidelity is partnering with technology provider EverSafe for enhanced identity theft protection and activity monitoring.
Financial aggregators have been around for years, more than a decade in some cases. Yet recent reports indicate that some of the country's biggest banks are starting to push back against what they view as certain repercussions of these third-party services.
With the announcement of indictments against three men in a cybercrime ring Tuesday, federal prosecutors revealed that the massive cyberattack against JPMorgan Chase last year was just one piece of a convoluted scam that involved stock manipulation schemes, illegal gambling and other financial scams.
In 2016 an "integrity" attack in the financial sector will result in millions of dollars quietly redirected to anonymized accounts, according to a Threat Prediction Report released Tuesday by Intel Security's McAffee Labs.
A Swedish company is looking to make inroads in the US with a type of biometric user authentication that it said is less intrusive than iris scanning or adding increasingly complex passwords. The technology measures users' typing and swiping behavior.