The financial services sector faces unprecedented cybersecurity challenges in today's digital age. With the industry being a prime target for cybercriminals, understanding and adhering to cybersecurity regulations has never been more crucial. This article delves into the labyrinth of cybersecurity regulations affecting financial services, underscoring their significance in safeguarding sensitive data and maintaining robust cyber defenses.

The US government warned healthcare organizations about the risk of being targeted by the ALPHV BlackCat ransomware after a surge in attacks.

Cybersecurity is a pressing topic of concern for most organizations today, as any amount of sensitive data or digital assets can present a security risk. Understanding the digital landscape, threat trends, and the way they change over time is an essential step in defending against cyberattacks. It can be daunting for any organization to stay in the loop and maintain perspective on cyberthreats and security practices.

What is the greatest cyber risk in the world right now? Ransomware? Business Email Compromise? Maybe AI? Well, the last one is pretty close. According to the World Economic Forum, misinformation and disinformation are the most severe global risks of the next two years. In their Global Risks Report 2024, the WEF posited that the post-pandemic world is at a "turning point," with the two key problems possessing the power to do everything, from challenging mental health to eroding human rights.

Have you ever considered that even before you enjoy the first sip of your favorite morning beverage, you have probably interacted with at least half of the 16 critical infrastructure sectors that keep a nation running? In one way or another, the simple act of brewing a cup of tea would probably not be possible without interacting with water, energy, manufacturing, food and agriculture, waste, transportation, and financial sectors.

Scammers are increasingly resourceful when coming up with scam techniques. But they often rely on long-standing persuasion techniques for the scam to work. So, you may hear about a new scam that uses a novel narrative, but there is a good chance that the scam relies on proven scam techniques once the narrative is stripped away. These scam techniques often exploit our characteristics and heuristics, or things that make us human and fallible.

Although attacks on small and medium-sized businesses (SMBs) rarely hit the headlines, they remain a serious threat. Unlike their corporate counterparts, many SMBs lack the tools, skills, and mitigation services they need to combat modern threats. Understanding that forewarned is forearmed, the National Cyber Security Centre (NCSC) recently debuted a guide aimed at smaller companies that lack dedicated IT or support staff called “Using Online Services Safely”.

Navigating the information superhighway is like threading your car through traffic on a dangerous rush hour freeway. The journey is full of perils that can prevent you from getting where you need to go and turn the trip into a bumpy ride. In the same way we plan for wrecks and try to avoid hazards on the road, businesses can minimize the impact of an incident and cruise confidently through the chaos by thinking with a resilience-first mindset.

Many of the breaches of the past ten years have taken advantage of weak or nonexistent security settings. Conversely, for example, companies that configured their Docker application to the CIS recommended security settings for container users and privileges were not as vulnerable to container escape exploits. Arguably, a configuration change prevented many breaches. Security configuration management can make a huge difference in reducing an organization’s vulnerability.

A huge reward is being offered for information leading to the identification or location of any of the leaders of the LockBit ransomware gang. The bounty offer comes from the US State Department, following this week's disruption of the criminal organisation's activities. LockBit, which has been operating since 2020, has targeted thousands of victims around the globe, causing the loss of billions of dollars in both ransom payments and recovery.

Last year, the Securities and Exchange Commission adopted rules on cybersecurity risk management that focused on transparency. Much of the adopted rules were focused on investors, but the rules also underscored the importance of the impact to customers when cybersecurity incidents occur. The data security landscape has recently shifted to prioritize the user or the customer, and that was just one of the steps in furthering the approach.

As we are well into 2024 now, we at Fortra want to continue our commitment to empowering you all with the knowledge and tools needed to protect you, your organization, and even your family. This year, we will be looking more and more at the human element, and provide you with methods to practice repeatable, real-world techniques to ingrain positive habits and security behaviors to keep you as safe as possible.

Today, almost every organization is engaged with a third-party vendor at some level when offering products or services. Take, for instance, an e-commerce business that may not be able to function properly unless multiple third-party integrations are involved, such as CRMs, payment gateways, live chat APIs, or a shipping gateway, to name a few.

Over the years, PayPal has earned a reputation for being a secure and easy way to send and receive money. However, no payment system is entirely immune to scams, and cybercriminals often exploit these platforms due to their widespread popularity and trust among users. PayPal is the most widely used online payment system in the US, making it a compelling target for scammers looking to capitalize on its extensive user base.

The digital landscape is ever-changing, causing cybersecurity to often feel like a moving target. Thankfully, the NSA 2023 Cybersecurity Report arrives to provide critical information and context to help organizations keep their peace of mind. This comprehensive report, drawing insights from a wide range of industries, delves into the pressing technological trends, emerging challenges, and the growing importance of sustainability in the tech sector.

A recent report from Duke University's Sanford School of Public Policy has shed light on a concerning issue - data brokers are selling vast amounts of highly sensitive information about American military service members. This includes private data about active-duty personnel, veterans, and their families, encompassing sensitive health and financial details. Shockingly, these brokers even offer bulk data for individuals within geofenced military facilities like Fort Bragg and Quantico.

Good news for organisations who have fallen victim to the notorious Rhysida ransomware. A group of South Korean security researchers have uncovered a vulnerability in the infamous ransomware. This vulnerability provides a way for encrypted files to be unscrambled. Researchers from Kookmin University describe how they exploited an implementation flaw in Rhysida’s code to regenerate its encryption key in a technical paper about their findings.

Today’s BEC attacks are more nuanced, more accessible, less technically demanding, and consequently, more dangerous than ever before. In our report, 2023 BEC Trends, Targets, and Changes in Techniques, we take a hard look at the anatomy of Business Email Compromise (BEC) attacks today and the lures that are drawing users to the bait in record numbers.

In the ever-evolving landscape of cybersecurity, businesses and individuals find themselves in a relentless battle against the surge of cybercrime, which continues to escalate in complexity and frequency. Despite the significant investments in cutting-edge cybersecurity solutions, the financial toll of cybercrime persists, with costs escalating annually.

New research shows a 704% increase in deepfake "face swap" attacks from the first to the second half of 2023. A report from biometric firm iProov warns that "face-swapping" fraudsters are increasingly using off-the-shelf tools to create manipulated images and videos.

In recent times, the remarkable advancement of AI has revolutionized our technological landscape. Its profound benefits have not only enhanced the efficiency of our daily operations but also induced transformative shifts across industries. The impact of AI has made our lives more convenient, creating new opportunities in the digital world. Looking ahead, AI's influence promises a future full of innovation and potential.

Last year, text scammers prowling around on messaging platforms like WhatsApp sent a staggering 19 million messages in December alone. When ploys like these can rake up over $10 million in a matter of months, it’s easy to see why. Which WhatsApp messages are real this year, and which are not? With social engineering attacks, it's increasingly harder to tell. Here’s a look at the most probable WhatsApp scams in 2024 and what you can do to avoid them.

Kubernetes has emerged as the leading platform for orchestrating containerized applications. However, developers and administrators rely on an ecosystem of tools and platforms that have emerged around Kubernetes. One of these tools is Helm, a package manager that simplifies Kubernetes deployments. However, with the convenience and efficiency Helm offers, it also introduces significant security risks.

Technology has recently been evolving at the speed of light. We have seen the onset of increased cyber threats across all industries. Gone are the times when threat actors had a specific goal and target. We now live in an age where robots collect, collate, and save information for a more opportune and profitable day. It is ever more important to understand the security measures individuals and organisations implement to safeguard themselves against such threats.

The emergence of innovative Financial Technology (FinTech) has spearheaded rapid growth in the digital payments sector. In recent years, global payment revenues exceeded valuations of $2.2 trillion, with a steady Compound Annual Growth Rate (CAGR) expected in the next five years. There is no denying the convenience benefits that the digital transformation of payments has brought consumers and businesses.

Nearly four years ago, the Department of Defense released the Cybersecurity Maturity Model Certification (CMMC). This was created as a complement to NIST SP 800-171, which focused on protecting Controlled Unclassified Information (CUI). If you are unfamiliar with what constitutes CUI, the simple way to think of it is to apply the broadest terms of privacy to any information that relates to any government relationship with a company.