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Information Security

Canadian financial services co-operative Desjardins has confirmed that a rogue employee stole and disseminated the personal information of more than 2.9 million members.
Desjardins was only made aware of the breach when it was contacted by the police in June.

The Board of the International Organization of Securities Commissions (IOSCO) today issued a final report that provides an overview of three internationally recognized cyber standards and frameworks used by IOSCO members.

Nearly three quarters of chief information and security officers at financial institutions plan to ask their firms for an increase in cybersecurity investments in the next year, according to a survey. Of 301 CISOs quizzed by the Financial Services Information Sharing and Analysis Center (FS-ISAC), more than half say that 10% or less of their organisation's overall budget is dedicated to cyber security and 73% are looking for a bump.

Cybersecurity attackers in the large value payments chain are adjusting their modus operandi, lowering the value of transactions and running fraudulent instructions during normal operating hours in an attempt to blend in with regular payment flows and avoid detection, according to a new report from banking co-operative Swift.

The Monetary Authority of Singapore (MAS), Bank of England and the Financial Conduct Authority announced today that they would be working together to strengthen cyber security in their financial sectors.

BBVA held its first Family Cybersecurity Day, an initiative aimed at raising awareness and educating employees and their families about the potential risks derived from the online activities and certain digital habits that are already a part of our daily lives.

The finance industry prevented £1.66 billion of unauthorised fraud during 2018, effectively stopping £2 in every £3 of attempted unauthorised fraud, according to the latest report, Fraud the Facts 2019, from UK Finance.

Entrust Datacard, a leading provider of trusted identity and secure issuance technology solutions, completed its previously-announced acquisition of nCipher Security, formerly Thales's market-leading general purpose hardware security module (HSM) business.

An international criminal network that used malware to try to steal $100 million from more than 41,000 victims, has been dismantled after a law enforcement operation spanning several countries.

Equifax failed to prioritise cybersecurity and left itself open to attack in the lead up to the massive 2017 data breach that compromised the personal information of more than 145 million Americans, a Senate investigation has found.

Schaumburg, IL—While attack vectors remain largely the same year over year, attack volume will increase and cybercrime may be vastly underreported, according to the 2019 State of Cybersecurity Study from global IT and cybersecurity association ISACA.

Europe's financial supervisory authorities have advised against the introduction of a coherent cyber resilience testing framework for the continent's market participants and infrastructures - at least in the short term.

The Monetary Authority of Singapore (MAS) today released two consultation papers on proposed changes to the Technology Risk Management (TRM) Guidelines and the Business Continuity Management (BCM) Guidelines.

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