Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

The growing inter-connectedness of digital systems, combined with the alarming ingenuity of financial criminals, has led to a convergence between payment fraud, cybercrime, and AML. As financial transactions increasingly occur online and real-time payments have expanded to over seventy countries, cybercriminals are exploiting these trends by developing sophisticated schemes to target vulnerabilities in digital payment systems.

As the primary financial services regulator of the Cayman Islands, the Cayman Islands Monetary Authority (CIMA) is responsible for managing and protecting the assets of all Cayman Islands banks, which includes its cybersecurity and risk management strategies. CIMA does this mainly through the Rule and Statement of Guidance – Cybersecurity for Regulated Entities, which establishes regulatory laws and guidelines to safeguard the security posture of its regulated entities.

Keeper Security is excited to announce that it now supports passkeys for mobile platforms on iOS and Android. This update extends passkey management functionality in the Keeper Vault beyond the Keeper browser extension support for Chrome, Firefox, Edge, Brave and Safari announced in June 2023. Passkeys have seen rapid adoption since their introduction in 2022 and Keeper is proud to enable their use across devices, bringing users a more secure and streamlined authentication experience.

According to Verizon’s 2023 Data Breach Investigations Report, 19% of the threats organizations face are internal. When organizations don’t take the necessary steps to prevent internal misuse of credentials and human errors, their chances of suffering an insider threat are greater. A few ways organizations can prevent insider threats are by using threat modeling, implementing the principle of least privilege, using strict access controls and deleting accounts when employees leave.

As Tax Day in the U.S. looms on the horizon, so too does the risk of falling victim to online scams. In 1986, the first year that e-filing was available, five people filed their returns electronically. Since then, the popularity of e-filing has increased so much that 92% of individual tax returns are now e-filed. As online tax filing and payment have become more popular, though, scams targeting unsuspecting taxpayers have as well.

This is Part 4 in my ongoing project to cover 30 cybersecurity topics in 30 weekly blog posts. The full series can be found here. Performing Security Assessments is one component of security operations that every organization does, or at least should do. However, deciding what type of assessment to conduct can be challenging. After all, there’s a long list of assessments that can be useful in providing insights into your security architecture and operational performance.