Security - Long Reads, News, Articles & Research: Finextra

Cyber-attack case studies: Data, costs, and solutions

Scott Hamilton Contributing Editor at Finextra Research

Cyber-attack case studies: Data, costs, and solutions

Invite 165 or so treasury managers and other financial leaders and practitioners in a room, tell them you’re going to put them through a cyber-attack simulation, and advise that their actions will directly influence the exercise’s ultimate outcomes. Will they agree to do it? Of course they will! Especially since, according to an IBM study cited...

25 November 2024 /security

Níamh Curran

How to pick a 3-D Secure provider

Amid increasing ecommerce sales, changing consumer expectations, and regulatory shifts, payments issuers and processors need to continually evolve to decrease risks from card not present (CNP) transactions and customer authentication process. As the number of online payments grows, organisations are at increased risk of loss as a result of CNP frau...

10 July 2024 /security

How FSI companies can leverage AI to enhance cybersecurity

Retired Member

How FSI companies can leverage AI to enhance cybersecurity

With generative AI, UK financial services companies have an opportunity to unlock new possibilities through innovation, which can help them boost their resilience amid increasing cybersecurity threats. This will help them to better serve customers, increase growth and contribute to the country becoming an AI global leader. The financial services i...

28 June 2024 /security

Hamish Monk Senior Reporter at Finextra

How to recover from a data breach

On 7th May, several China-sponsored cyber-attacks on the Ministry of Defence (MoD) compromised data from its outsourced payroll system, SSCL (a subsidiary of Paris-based Sopra Steria) – exposing the names and banking information of 270,000 past and present military personnel from the Royal Navy, Army, Royal Air Force. In the wake of this news, Fin...

09 May 2024 /security

5 common types of data breaches in the financial sector

Dominique Dierks Senior Content Manager at Finextra

5 common types of data breaches in the financial sector

Global cybercrime is thriving. The 2023 UK Cyber Security Breaches Survey found that over the last 12 months, 32% of businesses have experienced a data breach, with that number climbing to a stunning 69% for large businesses. The financial sector is a popular target for cybercriminals, and ranks second in the global cyber incident damage statisti...

12 April 2024 /security

Why financial institutions must move quicker on quantum

Andersen Cheng Chairman at Post Quantum

Why financial institutions must move quicker on quantum

For most people reading this, a functioning quantum computer will probably still feel quite fictional — an innovation that’s still light years away. There’s also the idea that, well, wouldn’t a functioning quantum computer be a good thing? Won’t a functioning machine, for example, be able to effectively analyse large or unstructured data sets, to ...

13 March 2024 /security

Why don’t Canadians trust data providers?

Scott Hamilton Contributing Editor at Finextra Research

Why don’t Canadians trust data providers?

Data privacy concerns are major worries of more than three-fourths of Canadian citizens. In fact, more than 80% of the respondents to a recent nationwide poll on the topic said they want more control of how their personal data is handled and exposed. The survey was undertaken by public relations firm Hill and Knowlton in conjunction with the Leger...

09 February 2024 /security

Biometrics and data privacy: What regulation is in place?

Sehrish Alikhan Reporter at Finextra

Biometrics and data privacy: What regulation is in place?

Revolut is currently facing a class action lawsuit in Illinois, US alleging that the company unlawfully collected, used, and stored customers’ biometric data. In the current age of instant payments and increasing consumer demands, biometric data has become increasingly significant in facilitating authentication and verification during the payments...

22 January 2024 /security

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