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.
Developing secure mobile applications is just one part of the process in creating new programs. Communicating how applications are secured is crucial in building IT security awareness among stakeholders.
Citadel, one of the latest Zeus trojan variants, is a prime example of how hackers are pairing sophistication with practical conveniences. RSA's Etay Maor explains why that combination is so threatening.