Financial Services Cybersecurity Weekly Briefing 04-20-2018

Weekly FS Cybersecurity Blast

Weekly FS Cybersecurity Blast

Understanding Risk Assessment for InfoSec Budgeting
Last month, Critical Informatics founder Mike Hamilton moderated a panel discussion in downtown Seattle, reinforcing a practical methodology to establish common ground and build a case for IT Security investments. Comprised of regional Information Security leaders in legal, actuarial consulting, health insurance, and education, our panel explored the process and practicality of applying this methodology. Read on to learn what the experts had to say about their use of risk assessment to secure executive buy-in for investments that reduce the risk of IT security events leading to expensive outcomes.

 

Open Banking: Tremendous Opportunity for Consumers, New Security Challenges for Financial Institutions
For this reason, the initiative comes with a new set of security standards. However, these mandates deal mostly with authentication, transaction monitoring and API security, and largely ignore the security of the devices from which transactions originate. This is problematic because compromising mobile devices is a popular activity among cybercriminals. By capturing large volumes of devices, threat actors can raise their profile and increase their ability to either attack devices directly or use them to launch distributed denial-of-service (DDoS) campaigns.

 

Jobs in Cybersecurity are Exploding: Why are Women Locked Out?
Attracting and retaining qualified workers to the field — especially women — has become a critical issue across sectors, from banking to health care, aviation and government. “Can we staff up fast enough to be able to protect the power systems of the United States, the weapons systems, the financial systems?  […]  “If we block entry for women, we’re blocking 50 to 70 percent of the talent,” he said. “When I walk into a high school Cisco Networking class, I’ll see 30 boys and one girl. Girls are being told loudly: ‘You are not invited.’”

 

The Cybersecurity Challenges Facing Emerging Fintech Startups 
A growing industry, their success lies in offering alternatives to conventional financial solutions through cryptocurrencies, online loans, and robo-advisors. Though it’s a rich tapestry of services that make up the fintech world, they’re united by one challenge: cyber security. Its unfettered growth on online platforms makes this industry uniquely vulnerable to security breaches.

 

Fintech Professional’s Tech Predictions: 5 – Better Understanding of Privacy Settings
Fintech IT professional says: “There will be wider public understanding of privacy settings and how these can be undermined by website operators. Governments will introduce standard definitions for privacy settings, specify default settings and monitor compliance by operators. The public may also shy away from providing as much data as the understanding of how seemingly unimportant information can be assembled over a period of time and interpreted by data analysis, whether that be by commercial, governmental or criminal organizations.

 

 

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