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2024 Thales Global Data Threat Report: Trends in FinancialServices madhav Tue, 10/15/2024 - 05:17 Financialservices (FinServ) firms are key players in the global economy. A lack of multifactor authentication (MFA) to protect privileged accounts was another culprit, at 10%, also 7 percentage points lower than average.
Over the past year, like many industries, the financial sector has faced a range of both challenges and opportunities, leading to a decade’s worth of digitaltransformation in 12 short months. We have seen particular growth in interest from banks and financialservices in deploying a cloud-based Zero Trust approach.
New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of FinancialServices (NYDFS) is November 1, 2024.
However, as important as PCI may be, United States financialservices organizations operate in one of the worlds most stringent and complex compliance landscapes. Understanding the US FinServ Compliance Landscape The US financialservices industry is subject to a vast number of laws and regulations.
Individuals risk identity theft, financial loss, and privacy violations. Businesses, particularly those in financialservices, healthcare, and retail sectors, suffer from operational disruptions and financial penalties.
Incorporating practices like card recycling as well as eco-friendly products such as the Ocean Plastic® Card made of reclaimed marine plastic waste collected by Parley for the Oceans , has also been front of mind for many financialservices organisations in the past year. Accelerated digitaltransformation for people and things .
Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data Threat Report-FinancialServices Edition. Here’s a look at four common issues highlighted in the 2019 Thales Data Threat Report-FinancialServices Edition and tips for overcoming them.
Secure the digitaltransformation of the payments industry across various applications and environments. The Thales IAM solutions complement their encryption and payment security offerings: Enhance overall security posture by ensuring only authorized users access sensitive financial systems.
New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of FinancialServices (NYDFS) is November 1, 2024.
APIs are the conduits for moving data to-and-fro in our digitallytransformed world. With DevOps and API advances steamrolling forward, no one has thought to establish the practice of requiring passwords to authenticate users at the API level. The forward-pull of digitaltransformation is kicking in.
The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. However, the security of data in the cloud is a growing challenge.
The most frequent targets of leakware are hospitals, law firms, and financialservices organizations. Adopt cloud services. Many companies in various industries have made digitaltransformations, as new and emerging technologies offer plenty of benefits. According to the U.S.
Security teams must therefore enable developers to secure their automated process with tools – this way security enables digitaltransformation, rather than holding it back, or, worse still, cause security measures to be worked around in order to maintain agility. LW: Your reports show that the U.S. has done well, too.
Breaking Free from Passwords: Passkeys and the Future of DigitalServices josh.pearson@t… Mon, 09/02/2024 - 15:14 As passkeys offer a more secure and convenient way to authenticate users, it is no surprise that industry experts agree that they will become the standard authentication method used worldwide.
PSD2 has had a profound impact on the financial ecosystem, reshaping the infrastructure for banks, fintechs, and businesses that rely on payment data to serve consumers better. Despite this extension, many financial institutions continued to struggle, compounded by the added complexities introduced by the coronavirus pandemic.
The payments industry is on the precipice of a fundamental digitaltransformation, driven by consumer demands for services that are easy to access, convenient to use, and yet still ensure the highest level of security. This shift to the digital has been significant and was up 44% in the US alone from 2019 to 2020.
Individuals risk identity theft, financial loss, and privacy violations. Businesses, particularly those in financialservices, healthcare, and retail sectors, suffer from operational disruptions and financial penalties.
However, as important as PCI may be, United States financialservices organizations operate in one of the worlds most stringent and complex compliance landscapes. Understanding the US FinServ Compliance Landscape The US financialservices industry is subject to a vast number of laws and regulations.
The Evolving Legislative and Compliance Landscape: A Roadmap for Business Leaders madhav Tue, 04/30/2024 - 05:32 Trust is the currency of the digital economy. It fuels innovation, drives customer loyalty, and underpins successful digitaltransformation.
The Evolving Legislative and Compliance Landscape: A Roadmap for Business Leaders madhav Tue, 04/30/2024 - 05:32 Trust is the currency of the digital economy. It fuels innovation, drives customer loyalty, and underpins successful digitaltransformation.
The company’s access management capabilities are part of its comprehensive platform designed to support enterprise customers around the world to enable their digitaltransformation goals. Take Standard Chartered Bank , a 160-year-old financialservices leader.
Salt Security's report also shows that some institutions prioritize API security only selectively, leading to gaps where older APIs or less protected endpoints might use basic authentication or API keys instead of robust multi-factor authentication. Learn how to today.
They enable organizations to supply the digitalservices that support everyday activities like shopping online, booking a holiday or using a banking app. The unprecedented growth of API usage across all industries in recent years has accelerated digitaltransformation and brought new API security challenges to light.
In our increasingly digital world, a greater proportion of businesses across different sectors are trying to integrate new technologies into their processes. Technologies such as IoT, cloud computing, edge computing, and AI have the ability to drastically improve the service and operations of any business. Cybersecurity Bedrock.
The 57 percent rate statistic is the highest of all verticals we measured in this year’s report (others include the healthcare industry, the retail industry, and the financialservices industry) or any region surveyed. I think it’s worth further expanding on our cloud technology findings.
Secure the digitaltransformation of the payments industry across various applications and environments. The Thales IAM solutions complement their encryption and payment security offerings: Enhance overall security posture by ensuring only authorized users access sensitive financial systems.
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