Risk Assessments/Management

The use of open application protocol interfaces (APIs) in financial services presents a huge opportunity but provides a new attack vector for cyber criminals.

Payments software and services vendor ACI Worldwide launched a set of “fraud scoring services,” aimed at offering financial institutions better insights into the likelihood of fraud that might impact their institutions.

Kronos is back online after a months-long ransomware-related outage. But a lawsuit filed against Scripps Health this week alleges employees still haven’t been paid in full for their overtime hours, disrupted by the cyberattack.

A recent survey found financial industry employees less likely to maliciously harm their employers, but only 55% of financial firms had “a formal offboarding process.”

AI and machine-learning developer Resistant AI announced on March 21 its partnership with data intelligence purveyor ComplyAdvantage to build out more extensive and accurate anti-money laundering (AML) tools for financial institutions.

A CRA Business Intelligence report points to increased concern over attacks traced to third parties: 66% saw an uptick in third-party security incidents in the last 12 months.

The Lapsus$ extortion group took issue with public statements by Okta's leadership claiming that the company was not breached. Okta's CEO acknowledged about 2.5% of their clients were potentially impacted, which would equate to about 375 of Okta's roughly 15,000 customers.

Companies large and small are struggling to stave off data breaches and prevent compliance violations as third-party partners they increasingly rely upon come under attack. These findings are according to a new survey fielded by CRA Business Intelligence, the insights and research unit of cybersecurity information services company CyberRisk Allian...