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What does it mean to be “threat ready” in an industry as sensitive as banking? The term is tossed around a lot. But what does that look like for your institution? In simple terms, being threat ready means having the right technology, trained staff, and proactive strategies in place to protect your bank’s assets from […]
Category Archives: Cybersecurity
Banking, Cybersecurity
Do Your Employees Know Password Best Practices? Strengthen Your Banks Security Starting From the Inside
21
Jun
Jun
In March of 2022, TransUnion South Africa announced that their records had been breached—the group that took responsibility for the hack claimed that they stole 54 million records. They also claimed that the server they hacked was protected with the word “password.” It’s the oldest security joke in the book but if what the hacking […]
21
Jun
Jun
The hidden costs of a cyberattack are just that—hidden, below the surface, a ripple effect that can last for years to come. IT companies are quick to share stats about the average cost of a data breach (now at over $5 million) but what goes into those calculations? And is that just a loss of […]
Banking, Cybersecurity
5 Cybersecurity Misconceptions That Your Financial Institution Needs to Leave Behind
18
May
May
Cybersecurity in banking is a constant barrage of new threats, changing regulations, and customer worries. And your financial institution is a prime threat. Your business goes right to the source: the customer’s money! To protect your customers and your business, your cybersecurity needs to be top-notch. But there may be some banking misconceptions that are […]
Banking, Cybersecurity
Multi-Factor Authentication: How Having a Layered Defense for Your Bank Can Help to Combat Cyber Threats
10
May
May
As a leader and decision-maker at your bank, you know that technology is a double-edged sword. It helps you work effectively, learn more about your customers, and make better decisions. But the online world also has the potential to destroy a business you’ve worked so hard to build. We live in a digital world—there’s no […]
20
Mar
Mar
Silicon Valley Bank appears to have failed for a simple reason – mismatching of maturities of assets and liabilities . . . a basic bank management principle. Deposits were short-term and invested assets were long-term. When depositors wanted to withdraw their cash, the bank was faced with liquidating long-term investments (e.g., bonds, which were trading […]
Banking, Cybersecurity
Top Cybersecurity Threats That Your Bank Faces in 2023 and How to Protect Against Them
19
Jan
Jan
As a bank or financial institution, you hold the key to the most private information of your trusting clients and customers. That’s a tall order! They all hope that your digital security is at Fort Knox level, but we both know that having good cybersecurity is easier said than done. On March 17th, 2022, the […]
29
Dec
Dec
As a business owner, you know that keeping your data and systems safe is critical. You may also know that it can be difficult to do so on your own, especially if you don’t have dedicated security staff or expertise in-house. That’s where Managed IT Services can help. Managed Service Providers (MSPs) offer a range […]
27
Dec
Dec
Cyber attacks are on the rise, and no industry is safe. However—some industries are more vulnerable to attack than others. If you are in one of the following five industries, it is important to take steps to protect yourself from these threats and ask yourself if there is a likelihood of a cyber attack on […]
Cybersecurity, Email Security, Security
Common Online Banking Scams and How to Keep Your Account Safe From Them
29
Nov
Nov
In today’s digital age and especially coming into the holiday season, it is more important than ever to be aware of the different types of online scams that are out there. Unfortunately, scammers are getting smarter and more sophisticated every day, so it’s important to be vigilant in order to protect yourself and your finances […]
