Malware and cyberespionage tools like Gauss are hitting U.S. banking institutions and businesses from all corners of the globe. But why are these sometimes not-so-sophisticated attacks causing so much damage?
Online attacks aimed at major U.S. banks have helped to heighten industry cooperation and information sharing. But experts say not all attacks are equal, and understanding the motivation behind the attack is key.
NIST's Ron Ross, one of the world's top information risk thought leaders, says new guidance he co-wrote doesn't dictate how organizations must approach risk assessment, but gives enterprises options on how to conduct risk appraisals.
Banking institutions can expect more cyberattacks, including threats from nation-states, as the U.S. elections draw near. So they must take adequate security steps - and clearly explain them to their customers.
The FS-ISAC's decision to increase the U.S. banking industry's cyberthreat level from "elevated" to "high" is way overdue, Aite's Julie McNelley and other experts say. Here's how banking institutions should enhance security.
Financial institutions are now at high risk of cyberattack, according to the Financial Services Information Sharing and Analysis Center. What can institutions do to protect themselves from new threats?
"With the increasing breadth and depth of cyberattacks ... risk assessments provide important information to guide and inform the selection of appropriate defensive measures so organizations can respond effectively," guidance coauthor Ron Ross says.
Charles Intriago says AML investments and controls need to be streamlined. And through a new association, Intriago aims to train a new kind of financial-crime specialist that is equipped to connect fraud-fighting dots.