Large banks like Wells Fargo have started using "cyber ranges" and "red teams" to respond to real cyberattacks on virtual versions of their real systems.
UniCredit, Italy's No. 1 bank, said hackers took biographical and loan data from 400,000 client accounts in one of the biggest breaches of European banking security this year.
There's an outbreak of email and telephone hoaxes in France falsely attributed to the country's central bank, as criminals multiply attempts to steal credentials from French companies and consumers, the Bank of France said.
With an ever-increasing number of unsecured devices connected to one another, the potential for cyber-attackers to overwhelm any organization is a clear and present danger.
Although the Dodd-Frank Act made some positive changes, the weight of its regulations is killing small banks, Bank of America CEO Brian Moynihan said Tuesday.
The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.
Credit unions and financial institutions are required to take steps to protect against cyberattacks, but small businesses that process payments are not doing enough to protect the security of the financial system, a credit union executive said Wednesday.
