Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

syteca

12 Best Practices for Banking & Finance Cybersecurity Compliance

Apr 2, 2025 By Syteca In Syteca
Financial data has always been a prime target for cybercriminals due to its high value. Therefore, banks, loan services, credit unions, and investment and brokerage firms are highly vulnerable to cyberattacks. Moreover, security incidents in the financial sector are extremely costly (surpassed only by the healthcare industry), with the average total cost of a data breach reaching $6.08 million in 2024.
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Snyk

Overcoming AppSec Challenges in FinServ: How CIBC Balances Speed, Security, and Compliance

Mar 20, 2025 By Snyk Team In Snyk
Financial institutions face a tricky balancing act: they need to innovate quickly while also following strict compliance rules in an environment where security is paramount. Recently, Snyk's Field CTO, Steven Schmidt, sat down with Mihai Saveschi, Senior Director of Security Service Management at CIBC, for a fireside chat to discuss these pressing issues. We’ve pulled key insights from their conversation on some of the most pressing AppSec challenges facing financial services organizations today.
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fidelis security

Building a Strong Security Approach for Financial Institutions

Mar 17, 2025 By Fidelis Security In Fidelis Security
The security landscape for financial institutions has changed dramatically in recent years. Banks and credit unions face an onslaught of attacks unlike anything security professionals have ever seen before. As 2025 progresses, these threats aren’t letting up – they’re getting worse, forcing financial organizations to completely rethink how they protect sensitive data.
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securitysenses

Qualified Small Business Stock for Tech Startups: Navigating the IRS's Active Business Rules

Mar 14, 2025 By SecuritySenses In SecuritySenses
For tech startups, navigating the complex world of taxes and incentives is crucial to maintaining financial health and fostering long-term growth. One tax advantage that can benefit both founders and investors in tech startups is the Qualified Small Business Stock orQSBS provision. By offering potential tax exclusions on capital gains, QSBS can significantly reduce the tax burden when selling shares in a qualifying small business.
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Torq

Combating Ransomware, Phishing, and Zelle Fraud at Financial and Bank SOCs

Mar 12, 2025 By Bob Boyle In Torq
Banking and financial services companies sit on a goldmine of sensitive customer data, making them a prime target for phishing and ransomware attackers hoping to strike a payout. Even with defenses like MFA and security training, human error continues to be a critical point of failure for financial institutions — a 2024 report found that 3 out of every 1000 individuals working in banking click on a phishing link each month.
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securitysenses

The Rise of Peer-to-Peer Crypto Exchanges

Mar 11, 2025 By SecuritySenses In SecuritySenses
In the ever-evolving world of digital currencies, the way people trade and exchange cryptocurrencies is constantly changing. Among the various methods available, peer-to-peer (P2P) crypto exchanges are increasingly gaining traction. But what's behind this rising popularity, and what does it mean for the future of crypto trading?
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keeper

How To Combat Cyber Threats in the Finance Industry With a PAM Solution

Mar 6, 2025 By Aranza Trevino In Keeper
According to IBM’s Cost of a Data Breach Report 2024, the average cost of a single data breach reached an all-time high of $4.88 million last year, driven by increased revenue loss, operational downtime, customer churn and regulatory fines, among other factors. As frequent targets of cybercriminals, finance services companies face especially high risks – and the consequences of a successful breach can be particularly damaging from both reputational and compliance perspectives.
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ThreatQuotient

Fortifying Financial Services Cybersecurity with Threat Intelligence and Cybersecurity Automation

Feb 26, 2025 By Chris Jacob, VP, Global Field Operations In ThreatQuotient
The World Economic Forum's Global Cybersecurity Outlook 2025 Insight Report paints a bleak picture of what the year ahead holds for technology security teams worldwide. However, some industries are likely to be worse off than others. The financial sector, for example, is an attractive target for cyber-attacks, as confirmed by Statista which states that the average cost of a data breach in this industry in 2024 was approximately $6.08 million, compared to $4.88 for the overall average cost of a data breach across all industries.
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