Financial Services Cybersecurity Weekly Briefing 9-8-2017

Weekly FS Cybersecurity Blast

Weekly FS Cybersecurity Blast

A Cybersecurity Breach at Equifax Left Pretty Much Everyone’s Financial Data Vulnerable

According to the company, criminals were able to access the social security numbers, birth dates, and addresses for a massive—but as yet unspecified—number of U.S. consumers. The hack also included credit card numbers for more than 200,000 Americans and documentation related to disputes, which contain personal and identifying information, for some 180,000 Americans. On top of that, financial disclosures show that three top Equifax executives sold $1.8 million worth of company stock in the days after the breach was discovered, according to Bloomberg.

https://www.theatlantic.com/business/archive/2017/09/equifax-cybersecurity-breach/539178/

Are You Protecting Payment Card Data Well Enough?

The Verizon 2017 Payment Security Report: new name, even greater insight. This year’s report goes beyond Payment Card Industry Data Security Standard (PCI DSS) compliance and looks at the biggest payment security challenges facing organizations—and breaks this analysis down by industry and region.

http://www.verizonenterprise.com/verizon-insights-lab/payment-security/2017/

How Banks Are Coping With New York’s Cybersecurity Rules 

“It was a complete and utter waste of time,” said Tomita, a senior vice president and the chief technology officer at Catskill Hudson Bank in Monticello. “I would love to have about 15 minutes with [Gov. Andrew] Cuomo to thank him for the 4,000 phone calls I’ve received from every fly-by-night company that says they can be our information security officer. Many of them have no idea what they’re doing and some are fraud peddlers.”

https://www.americanbanker.com/news/how-banks-are-coping-with-new-yorks-cybersecurity-rules

SEC Chief: Cyber Risks Are ‘Substantial’

The SEC’s chairman says regulators need to do more to educate retail investors on the risks created by cyber crime, Reuters reports. […] “I am not comfortable that the American investing public understands the substantial risks that we face systemically from cyber issues,” Clayton was quoted saying Tuesday during a panel discussion at New York University. “I’d like to see better disclosure around that.”

http://www.barrons.com/articles/sec-chief-cyber-risks-are-substantial-1504711113

 

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