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2024 Thales Global Data ThreatReport: Trends in FinancialServices madhav Tue, 10/15/2024 - 05:17 Financialservices (FinServ) firms are key players in the global economy. As a result, FinServ organizations have some of the largest cybersecurity budgets and most advanced defenses.
Defending FinancialServices Against Fraud in a Shifting Cyber Landscape sparsh Tue, 11/14/2023 - 05:05 As we approach International Fraud Awareness Week during 12-18 November 2023, taking stock of the evolving threat landscape and the vulnerabilities that financialservices organizations face is crucial.
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.
Financialservices continue to lead in cybersecurity preparedness, but chinks appear in the armor. It highlights the leadership of financialservices in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor. Thu, 09/01/2022 - 05:15.
A host of threats continue to put enterprise data at risk. In fact, according to the 2024 Thales Data ThreatReport , more than 80% of organizations reported at least one breach in the last year, while ransomware attacks grew more frequent, with 28% of organizations reported experiencing an attack in 2024, compared to 22% in 2023.
Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data ThreatReport-FinancialServices Edition. Here’s a look at four common issues highlighted in the 2019 Thales Data ThreatReport-FinancialServices Edition and tips for overcoming them.
Criminals use personal and financial data to impersonate customers and add apparent authenticity to a scam. Strong Customer Authentication (SCA). The Payment Services Directive 2 (PSD2) aims to secure online transactions for Payment Service Providers (PSPs). Table 1: Strong Customer Authentication Factors.
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.
. “As of January 2022, the FBI has identified at least 52 entities across 10 critical infrastructure sectors affected by RagnarLocker ransomware, including entities in the critical manufacturing, energy, financialservices, government, and information technology sectors,” reads the FBI’s flash alert.
Throughout 2022, Thales hosted more than 40 webinars on a wide variety of cybersecurity topics, including, cloud security, data sovereignty, compliance, data threat trends, and rethinking approaches to role-based authentication. Security & Compliance for SAP Data in FinancialServices.
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. For retailers, this poses a two-pronged challenge.
Virtually every major financial institution, retailer, and scores of payment processors have been the victims of data breaches, incurring both financial and reputational damage. According to the 2022 Thales Data ThreatReport – FinancialServices Edition , 52% of U.S. million, second only to healthcare.
A host of threats continue to put enterprise data at risk. In fact, according to the 2024 Thales Data ThreatReport , more than 80% of organizations reported at least one breach in the last year, while ransomware attacks grew more frequent, with 28% of organizations reported experiencing an attack in 2024, compared to 22% in 2023.
This report aims to offer thorough insights into the financial cyberthreat landscape in 2021. The research in this report is a continuation of our previous annual financialthreatreports ( 2018 , 2019 and 2020 ), providing an overview of the latest trends and key events across the threat landscape.
However, basic cybersecurity tools and practices, like patching , strong passwords , and multi-factor authentication (MFA), “can prevent 80 to 90% of cyberattacks,” said Anne Neuberger, deputy national security advisor for cyber and emerging technologies, during a White House press conference in Sept. Other methods.
Security solutions integrated into operating systems, two-factor authentication and other verification measures have helped reduce the number of vulnerable users. This report shines a spotlight on the financial cyberthreat landscape in 2022. In 2022, 36.3%
This report aims to shed a light on more details of financial cyberthreats in 2020. This research is a continuation of our annual financialthreatreports ( 2019 , 2018 and 2017 ) providing an overview of the latest trends and key events across the financialthreat landscape. Methodology.
to discuss the findings of the 2018 Thales Data ThreatReport, Federal Edition. Question: Can you provide an overview of the 2018 Thales Data ThreatReport, Federal Edition, and elaborate why it’s needed today more than ever? Why isn’t this as good as it first seems?
Key recommendations for FinancialServices to improve cybersecurity and resilience in multi-clouds madhav Wed, 01/17/2024 - 05:46 The Digital Operational Resilience Act (DORA) will apply to the EU financial sector from 17 January 2025. As set out in its Article 2, DORA applies to the entire financialservices sector.
The numbers tell the story: The latest Identity Theft Resource Center report indicates that consumers experienced a 21-percentage-point rise in identity crime victimization between July 2023 and June 2024. Passkeys are already gaining momentum, with 30% of consumers implementing this passwordless authentication method.
Identity and Access Management (IAM) The 2024 Thales Data ThreatReport (DTR) FinancialServices Edition revealed that only 59% of financialservices organizations cite achieving security consistency across workforce and non-workforce identities. The same can become a reality for private businesses.
The numbers tell the story: The latest Identity Theft Resource Center report indicates that consumers experienced a 21-percentage-point rise in identity crime victimization between July 2023 and June 2024. Passkeys are already gaining momentum, with 30% of consumers implementing this passwordless authentication method.
Identity and Access Management (IAM) The 2024 Thales Data ThreatReport (DTR) FinancialServices Edition revealed that only 59% of financialservices organizations cite achieving security consistency across workforce and non-workforce identities. The same can become a reality for private businesses.
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