News Topic: Cyber attacks

The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses has been arrested in Spain. ... Read full article

Policymakers need to focus less on how they regulate the banking industry’s cyber defenses and more on how they will protect the financial system from an attack. ... Read full article

A bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles. ... Read full article

The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House's Council of Economic Advisers. ... Read full article

S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years. ... Read full article

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus. ... Read full article

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware. ... Read full article

While bank-run ATMs don’t appear to be affected so far, older, front-loaded cash machines are vulnerable to the attack, according to an alert from the Secret Service. ... Read full article

The two senators are set to introduce a bill that would force such firms to pay $100 per customer whose personal information was compromised. ... Read full article

With so much uncertainty, the only thing that's clear is how different the sector may look a year from now. Here's an overview of the leading trends in technology that will impact banking in 2018. ... Read full article

Seven trade associations — including those representing banks and credit unions — sent a joint letter to Congress outlining data security standards for entities that handle financial data. ... Read full article

The economy is ripe for another downturn in the months or years to come, and banks shouldn’t be lulled into a false sense of security. ... Read full article

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened. ... Read full article

Tether's $31 million hack gave bitcoin skeptics plenty to crow about. But experts say bad security is to blame, not digital assets. ... Read full article

The Office of Financial Research warned that a cyberattack could "disrupt the operations of one or more financial companies and markets and spread through financial networks and operational connections to the entire system." ... Read full article

The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures. ... Read full article

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies, a massive breach that the company concealed for more than a year. ... Read full article

As consumers’ personal information is compromised almost daily, hackers are increasingly targeting banks. ... Read full article