The financial industry needs to employ training and education to fight Dyre Wolf, a sophisticated virus targeting financial firms. The dangerous multi-faceted virus uses fraudulent call center agents to bait employees into sharing passwords for firms' financial accounts.
Barclays says it is developing a "center of excellence" for fraud detection and response in Sunderland in northeast England. The new center will add 200 jobs to Barclays' existing facilities in the area focusing on fraud response, and will consolidate some fraud related operations that have been handled across the U.K. and overseas.
Enterprise security and systems management technology company Tanium has announced an additional $52 million in funding from Andreessen Horowitz as well as new enhancements to its platform. The funding builds on a $90 million investment from Andreessen Horowitz last May.
A consumer group is looking to pressure the U.S. credit card industry to adopt more secure use of EMV chip card technology, and it is hoping to enlist increasing consumer support for its efforts. The...
In a comprehensive study of organized crime incidents and future criminal activity drivers, Europol identified key technologies ranging from big data to digital currency that could make the financial industry increasingly susceptible to theft, money laundering and other financial crimes.
MasterCard is planning to spend $20 million on cybersecurity initiatives that will include a bank safety layer and a biometrics pilot program. The credit card company plans to debut both announced initiatives this year.
The concept of sharing cyberthreat information got a boost this week from one of the biggest names in social networking: Facebook. The company's new ThreatExchange platform is reportedly based upon a system the social networking site was using internally to catalog threats to its network in real time.
Much of the retail industry may face significant challenges in meeting the EMV deadlines for complying with chip card technology, according to a recent survey from payments company ACI Worldwide....
When government budgets were trimmed in recent years, many governmental departments took a new approach to IT security.
A year marked by headline grabbing cyberattacks ranging from Target's credit card breach to a hack at JPMorgan ended with an attack that may have trumped the rest in headline-grabbing ability. While not directly affecting finance or payments, the malicious attack on Sony Pictures must have scared executives of financial firms and all other firms by the havoc it wreaked on its target and the precision with which it used cybercrime to inflict maximum financial and reputational damage.