In late July, the FDIC, along with the Office of the Comptroller of the Currency and the Federal Reserve, raised concerns about banks' account reconciliation practices. They issued specific guidance requiring all banks under their jurisdiction to monitor and regularly reconcile any accounts they manage, regardless of the source or type of relationship. This action came after persistent issues with partner bank account reconciliation, which left thousands of clients unable to access hundreds of millions in third-party account balances following the bankruptcy of a fintech intermediary in April.
The Council of Europe has introduced a groundbreaking AI Framework Convention, signed by the UK, US, EU, and several other nations, to establish a legal foundation for the ethical development and deployment of artificial intelligence.
In response to the fallout from the Synapse Financial Technologies bankruptcy, federal regulators, including the FDIC, Office of the Comptroller of the Currency, and Federal Reserve, have issued joint guidance aimed at reinforcing reconciliation responsibilities for banks in fintech partnerships.
The White House’s cybersecurity office is urging network operators to bolster the security of the Border Gateway Protocol (BGP), a crucial yet vulnerable technology that routes internet traffic.
In a startling development in the cybersecurity landscape, researchers have uncovered a highly sophisticated malware campaign, aptly named "Voldemort," that has already compromised over 70 organizations worldwide. This campaign, distinguished by its advanced techniques and stealthy execution, is believed to be primarily focused on espionage and intelligence gathering rather than financial theft.
The FBI, Cybersecurity and Infrastructure Security Agency (CISA), and the Department of Defense Cyber Crime Center (DC3) have issued a joint Cybersecurity Advisory (CSA) to alert network defenders that Iran-based cyber actors continue to target organizations in the U.S. and abroad as of August 2024. These attacks have impacted a wide range of sectors, including education, finance, healthcare, defense, and local governments in the U.S., as well as organizations in Israel, Azerbaijan, and the United Arab Emirates.
Researchers at Horizon3.ai have uncovered a significant security flaw in Python applications running on Windows that could enable hackers to pilfer NTLM credentials. NTLM, short for NT Lan Manager, is an old-school authentication protocol still prevalent in many Windows setups.
Progressive Web Apps (PWAs) are websites designed to look and feel like native apps, which can be installed on devices without users realizing they are third-party applications.
