News Topic: Cyber security

Small banks are being warned to slow down mobile tool development and check vendor arrangements, as researchers repeatedly find vulnerabilities that can be exploited by cybercriminals. ... Read full article

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they ... Read full article

The Bank Policy Institute was formed following the merger of The Clearing House Association and the Financial Services Roundtable. ... Read full article

As banks beef up defenses, hackers are targeting the weaker link: customers. ... Read full article

The consortium's Corda Enterprise is designed to let blockchain applications exist behind a company’s firewall but still interact with outside partners. ... Read full article

Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks. ... Read full article

The Illinois commercial bank gained a new role when it realized it shared the same digital transformation challenges as its customers. ... Read full article

Eight states want the credit bureau to show what it’s doing to improve data security; Goldman, Morgan Stanley and Wells Fargo will be the focus of this set. ... Read full article

Of all the types of malicious software targeting businesses, ransomware continues to be one of the most pervasive, according to recent studies. Here's an overview of the things banks, especially small ones, are doing to stop it. ... Read full article

Readers respond to a bill designed to modernize the anti-money-laundering rules, applaud the acting head of the CFPB’s decision to fire the members of the bureau’s advisory councils, opine on when a bank ought to communicate it has been hacked and more. ... Read full article

That’s the question executives of publicly traded banks are asking themselves as they try to make sense of new — and somewhat vague — guidance from the SEC on procedures for disclosing data breaches. ... Read full article

Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks. ... Read full article

Banks feeling the pressure in commerical lending from lightly-regulated, cash-flush competitors; financial institutions take "an increasingly militarized approach" to fighting cybercrime. ... Read full article

Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach. ... Read full article

Marcus unit will start taking deposits in the U.K. next month; the bank uses the technology to complete a trade finance letter of credit for Cargill. ... Read full article

Even as banks have built up their defenses, fraudsters continue to find new ways to try steal consumers’ identities to open accounts, take out loans or intercept payments. ... Read full article

Agencies are examining regulating cybercurrencies not named bitcoin; is Paul Achleitner to blame for the German bank’s problems? ... Read full article

Acting CFPB Director Mick Mulvaney told a group of bankers last week that he intends to end public access to complaints, but Sen. Elizabeth Warren and two other Democrats argue that would be a mistake. ... Read full article