Chris Keall reports: The Reserve Bank was kept in the dark for a crucial five days about a December data breach, Governor Adrian Orr says – contradicting its technology partner’s version of events. The incident – which saw sensitive data stolen – involved a file-sharing service run by US company Accellion. Read more on NZ…
Category: Financial Sector
Deepfakes Expose Cracks in Virtual ID Verification
One of the things I have come to understand from reading research reports from GeminiAdvisory.io is that criminals are quite nimble and creative as conditions change, the market changes, or new security protocols are adopted. So now that financial institutions, cryptocurrency exchanges, and businesses deploy more sophisticated techniques to verify identity virtually, how are criminals…
Ukraine says exposes group of international banking hackers
Reuters reports: Ukrainian law enforcement bodies have exposed a group of hackers who interfered in the servers of European and the U.S. banks that caused a total loss of $2.5 billion, Ukrainian prosecutors said on Wednesday. It said hackers from Ukraine used a malicious software, designed to steal personal data like passwords, logins, payment data from servers of private and state banks in…
Ph: NPC orders lender Familyhan to take down customer database following complaints
Back End News reports: The Philippines’ National Privacy Commission (NPC) has ordered Familyhan Credit Corp. to immediately stop processing the personal data of more than 6,000 borrowers following an investigation of complaints that the online lender has put at risk the privacy of the data subjects in violation of the Data Privacy Act of 2012…
ThinkMarkets Sues Former Employee for Data Theft
Arnab Shome reports: TF Global Markets (Aust) Limited, the Australian unit of forex broker ThinkMarkets, has filed a lawsuit against its former employee James Sorenson over some serious allegations of data theft and distributing them to its rival. The 31-page lawsuit filed at an Illinois court detailed that the former employee gained access to several confidential…
Computer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers
A Proposed Rule by the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation on 01/12/2021 This document has a comment period that ends in 90 days. (04/12/2021). You can submit a formal comment on it. Summary: The OCC, Board, and FDIC (together, the agencies) invite comment on a notice of proposed rulemaking (proposed rule or…