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The banking industry, revered for safeguarding critical financial data, has faced a barrage of cyber threats recently. These incidents, while alarming, help decision-makers like you identify emerging threats and stop them in their tracks. Let’s delve into the key takeaways from these events and explore actionable insights that banks can adopt to bolster their defenses. […]
Tag Archives: cybersecurity
05
Dec
Dec
Tens of billions of emails are sent every single day. Not all of them have that document you’ve been waiting weeks to receive. In fact, an estimated 3.4 billion emails are sent by cybercriminals every day. But how often are they being opened? Phishing attacks have an open rate between 17% and 53%, depending on […]
2FA, Security, security awareness training, Working Remotely
Now is The Time to Implement Multi-Factor Authentication
02
Oct
Oct
Cyber attacks are not slowing down. And with more and more people accessing company networks remotely, the problem is only getting worse. All it takes is one compromised credential or legacy application to cause a data breach. Now is the time to step up your security. Multi-Factor Authentication (MFA) is a security system that verifies […]
22
Sep
Sep
A recent study by a Security Awareness Training platform showed that the average rate at which employees of small banks clicked on phishing emails was 25% (the rate for bigger banks is even worse!). Ransomware (malware that encrypts your data and only provides a decryption key if you pay a ransom) continues to be a […]
(Tech) Business Continuity, Business Continuity, Cybersecurity
5 Ways Your Community Bank Can Be Threat Ready
25
Aug
Aug
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 […]
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 […]
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 […]
