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.
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.
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.
Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.
Banks feeling the pressure in commerical lending from lightly-regulated, cash-flush competitors; financial institutions take "an increasingly militarized approach" to fighting cybercrime.
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.
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.
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.
