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| financial services data breaches: Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment Antoine Bouveret, 2018-06-22 Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income. |
| financial services data breaches: Information is Beautiful David McCandless, 2009 Miscellaneous facts and ideas are interconnected and represented in a visual format, a visual miscellaneum, which represents a series of experiments in making information approachable and beautiful -- from p.007 |
| financial services data breaches: The Cambridge Handbook of Compliance Benjamin van Rooij, D. Daniel Sokol, 2021-05-20 Compliance has become key to our contemporary markets, societies, and modes of governance across a variety of public and private domains. While this has stimulated a rich body of empirical and practical expertise on compliance, thus far, there has been no comprehensive understanding of what compliance is or how it influences various fields and sectors. The academic knowledge of compliance has remained siloed along different disciplinary domains, regulatory and legal spheres, and mechanisms and interventions. This handbook bridges these divides to provide the first one-stop overview of what compliance is, how we can best study it, and the core mechanisms that shape it. Written by leading experts, chapters offer perspectives from across law, regulatory studies, management science, criminology, economics, sociology, and psychology. This volume is the definitive and comprehensive account of compliance. |
| financial services data breaches: Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance El Bachir Boukherouaa, Mr. Ghiath Shabsigh, Khaled AlAjmi, Jose Deodoro, Aquiles Farias, Ebru S Iskender, Mr. Alin T Mirestean, Rangachary Ravikumar, 2021-10-22 This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight. |
| financial services data breaches: Measuring and Managing Information Risk Jack Freund, Jack Jones, 2014-08-23 Using the factor analysis of information risk (FAIR) methodology developed over ten years and adopted by corporations worldwide, Measuring and Managing Information Risk provides a proven and credible framework for understanding, measuring, and analyzing information risk of any size or complexity. Intended for organizations that need to either build a risk management program from the ground up or strengthen an existing one, this book provides a unique and fresh perspective on how to do a basic quantitative risk analysis. Covering such key areas as risk theory, risk calculation, scenario modeling, and communicating risk within the organization, Measuring and Managing Information Risk helps managers make better business decisions by understanding their organizational risk. - Uses factor analysis of information risk (FAIR) as a methodology for measuring and managing risk in any organization. - Carefully balances theory with practical applicability and relevant stories of successful implementation. - Includes examples from a wide variety of businesses and situations presented in an accessible writing style. |
| financial services data breaches: Data Breaches Sherri Davidoff, 2019-10-08 Protect Your Organization Against Massive Data Breaches and Their Consequences Data breaches can be catastrophic, but they remain mysterious because victims don’t want to talk about them. In Data Breaches, world-renowned cybersecurity expert Sherri Davidoff shines a light on these events, offering practical guidance for reducing risk and mitigating consequences. Reflecting extensive personal experience and lessons from the world’s most damaging breaches, Davidoff identifies proven tactics for reducing damage caused by breaches and avoiding common mistakes that cause them to spiral out of control. You’ll learn how to manage data breaches as the true crises they are; minimize reputational damage and legal exposure; address unique challenges associated with health and payment card data; respond to hacktivism, ransomware, and cyber extortion; and prepare for the emerging battlefront of cloud-based breaches. Understand what you need to know about data breaches, the dark web, and markets for stolen data Limit damage by going beyond conventional incident response Navigate high-risk payment card breaches in the context of PCI DSS Assess and mitigate data breach risks associated with vendors and third-party suppliers Manage compliance requirements associated with healthcare and HIPAA Quickly respond to ransomware and data exposure cases Make better decisions about cyber insurance and maximize the value of your policy Reduce cloud risks and properly prepare for cloud-based data breaches Data Breaches is indispensable for everyone involved in breach avoidance or response: executives, managers, IT staff, consultants, investigators, students, and more. Read it before a breach happens! Register your book for convenient access to downloads, updates, and/or corrections as they become available. See inside book for details. |
| financial services data breaches: Cyber Risk, Market Failures, and Financial Stability Emanuel Kopp, Lincoln Kaffenberger, Christopher Wilson, 2017-08-07 Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk. |
| financial services data breaches: Consumer Attitudes Toward Data Breach Notifications and Loss of Personal Information Lillian Ablon, Paul Heaton, Diana Catherine Lavery, Sasha Romanosky, 2016-04-14 This report sets out the results of a study of consumer attitudes toward data breaches, notifications of those breaches, and company responses to such events. |
| financial services data breaches: Industry of Anonymity Jonathan Lusthaus, 2018-10-16 The most extensive account yet of the lives of cybercriminals and the vast international industry they have created, deeply sourced and based on field research in the world’s technology-crime hotspots. Cybercrime seems invisible. Attacks arrive out of nowhere, their origins hidden by layers of sophisticated technology. Only the victims are clear. But every crime has its perpetrator—specific individuals or groups sitting somewhere behind keyboards and screens. Jonathan Lusthaus lifts the veil on the world of these cybercriminals in the most extensive account yet of the lives they lead, and the vast international industry they have created. We are long past the age of the lone adolescent hacker tapping away in his parents’ basement. Cybercrime now operates like a business. Its goods and services may be illicit, but it is highly organized, complex, driven by profit, and globally interconnected. Having traveled to cybercrime hotspots around the world to meet with hundreds of law enforcement agents, security gurus, hackers, and criminals, Lusthaus takes us inside this murky underworld and reveals how this business works. He explains the strategies criminals use to build a thriving industry in a low-trust environment characterized by a precarious combination of anonymity and teamwork. Crime takes hold where there is more technical talent than legitimate opportunity, and where authorities turn a blind eye—perhaps for a price. In the fight against cybercrime, understanding what drives people into this industry is as important as advanced security. Based on seven years of fieldwork from Eastern Europe to West Africa, Industry of Anonymity is a compelling and revealing study of a rational business model which, however much we might wish otherwise, has become a defining feature of the modern world. |
| financial services data breaches: The Law of Financial Privacy L. Richard Fischer, |
| financial services data breaches: Hands-On Cybersecurity for Finance Dr. Erdal Ozkaya, Milad Aslaner, 2019-01-31 A comprehensive guide that will give you hands-on experience to study and overcome financial cyber threats Key FeaturesProtect your financial environment with cybersecurity practices and methodologiesIdentify vulnerabilities such as data manipulation and fraudulent transactionsProvide end-to-end protection within organizationsBook Description Organizations have always been a target of cybercrime. Hands-On Cybersecurity for Finance teaches you how to successfully defend your system against common cyber threats, making sure your financial services are a step ahead in terms of security. The book begins by providing an overall description of cybersecurity, guiding you through some of the most important services and technologies currently at risk from cyber threats. Once you have familiarized yourself with the topic, you will explore specific technologies and threats based on case studies and real-life scenarios. As you progress through the chapters, you will discover vulnerabilities and bugs (including the human risk factor), gaining an expert-level view of the most recent threats. You'll then explore information on how you can achieve data and infrastructure protection. In the concluding chapters, you will cover recent and significant updates to procedures and configurations, accompanied by important details related to cybersecurity research and development in IT-based financial services. By the end of the book, you will have gained a basic understanding of the future of information security and will be able to protect financial services and their related infrastructures. What you will learnUnderstand the cyber threats faced by organizationsDiscover how to identify attackersPerform vulnerability assessment, software testing, and pentestingDefend your financial cyberspace using mitigation techniques and remediation plansImplement encryption and decryptionUnderstand how Artificial Intelligence (AI) affects cybersecurityWho this book is for Hands-On Cybersecurity for Finance is for you if you are a security architect, cyber risk manager, or pentester looking to secure your organization. Basic understanding of cybersecurity tools and practices will help you get the most out of this book. |
| financial services data breaches: Breached! Daniel J. Solove, Woodrow Hartzog, 2022 Web-based connections permeate our lives - and so do data breaches. Given that we must be online for basic communication, finance, healthcare, and more, it is remarkable how many problems there are with cybersecurity. Despite the passage of many data security laws, data breaches are increasingat a record pace. In Breached!, Daniel Solove and Woodrow Hartzog, two of the world's leading experts on cybersecurity and privacy issues, argue that the law fails because, ironically, it focuses too much on the breach itself.Drawing insights from many fascinating stories about data breaches, Solove and Hartzog show how major breaches could have been prevented through inexpensive, non-cumbersome means. They also reveal why the current law is counterproductive. It pummels organizations that have suffered a breach, butdoesn't recognize other contributors to the breach. These outside actors include software companies that create vulnerable software, device companies that make insecure devices, government policymakers who write regulations that increase security risks, organizations that train people to engage inrisky behaviors, and more.The law's also ignores the role that good privacy practices can play. Although humans are the weakest link for data security, the law remains oblivious to the fact that policies and technologies are often designed with a poor understanding of human behavior. Breached! corrects this course byfocusing on the human side of security. This book sets out a holistic vision for data security law - one that holds all actors accountable, understands security broadly and in relationship to privacy, looks to prevention rather than reaction, and is designed with people in mind. The book closes witha roadmap for how we can reboot law and policy surrounding cybersecurity so that breaches become much rarer events. |
| financial services data breaches: The New Era of Cybersecurity Breaches Graeme Payne, 2019-08-08 Over the last decade, as companies have continued to march forward on the digitization of everything, the cybersecurity risk profile has continued to change. Since 2005, there have been over 9,000 publicly disclosed data breaches. In the last five years, the financial losses due to cyber-attacks have risen by over 62%. Identifying, mitigating and managing cybersecurity risks in today's environment is a challenging task. On July 29, 2017, Equifax discovered criminal hackers had broken into its systems. Graeme Payne was one of the first senior executives to be told about the attack. Six weeks later, Equifax announced that the personal information of over 140 million US consumers had been exposed in one of the largest data breaches of the 21st Century. What followed was a challenging response that drew widespread criticism. Graeme Payne was fired on October 2, the day before former Chairman & CEO Richard Smith testified to Congress that the root cause of the data breach was a human error and a technological failure. Graeme Payne would later be identified as the human error. In The New Era of Cybersecurity Breaches, Graeme Payne describes the new era of cybersecurity breaches, the challenges of managing cybersecurity, and the story of the Equifax Cybersecurity Breach. Graeme tells the story of how Equifax became a valuable target for cybercriminals, the conclusions reached by various investigators regarding the cause of the breach, the challenges faced by Equifax in responding to the breach, and the widespread consequences that continue to have an impact. The New Era of Cybersecurity Breaches is a must-read for board members, executives, managers and security leaders. This book will help you understand: The importance of implementing strong procedural, technical, and people controls to secure your systems. Essential lessons in preparing for, and responding to, a major data breach when (not if) one occurs. The critical role boards and senior leaders have in your organization's cybersecurity program. The lessons learned from major cybersecurity breaches, including the Equifax 2017 Data Breach, can be applied to your company to test and improve your cybersecurity posture. |
| financial services data breaches: Effective Model-Based Systems Engineering John M. Borky, Thomas H. Bradley, 2018-09-08 This textbook presents a proven, mature Model-Based Systems Engineering (MBSE) methodology that has delivered success in a wide range of system and enterprise programs. The authors introduce MBSE as the state of the practice in the vital Systems Engineering discipline that manages complexity and integrates technologies and design approaches to achieve effective, affordable, and balanced system solutions to the needs of a customer organization and its personnel. The book begins with a summary of the background and nature of MBSE. It summarizes the theory behind Object-Oriented Design applied to complex system architectures. It then walks through the phases of the MBSE methodology, using system examples to illustrate key points. Subsequent chapters broaden the application of MBSE in Service-Oriented Architectures (SOA), real-time systems, cybersecurity, networked enterprises, system simulations, and prototyping. The vital subject of system and architecture governance completes the discussion. The book features exercises at the end of each chapter intended to help readers/students focus on key points, as well as extensive appendices that furnish additional detail in particular areas. The self-contained text is ideal for students in a range of courses in systems architecture and MBSE as well as for practitioners seeking a highly practical presentation of MBSE principles and techniques. |
| financial services data breaches: IT Security Risk Control Management Raymond Pompon, 2016-09-14 Follow step-by-step guidance to craft a successful security program. You will identify with the paradoxes of information security and discover handy tools that hook security controls into business processes. Information security is more than configuring firewalls, removing viruses, hacking machines, or setting passwords. Creating and promoting a successful security program requires skills in organizational consulting, diplomacy, change management, risk analysis, and out-of-the-box thinking. What You Will Learn: Build a security program that will fit neatly into an organization and change dynamically to suit both the needs of the organization and survive constantly changing threats Prepare for and pass such common audits as PCI-DSS, SSAE-16, and ISO 27001 Calibrate the scope, and customize security controls to fit into an organization’s culture Implement the most challenging processes, pointing out common pitfalls and distractions Frame security and risk issues to be clear and actionable so that decision makers, technical personnel, and users will listen and value your advice Who This Book Is For: IT professionals moving into the security field; new security managers, directors, project heads, and would-be CISOs; and security specialists from other disciplines moving into information security (e.g., former military security professionals, law enforcement professionals, and physical security professionals) |
| financial services data breaches: Examining the Financial Services Industry's Responsibilities and Role in Preventing Identity Theft and Protecting Sensitive Financial Information United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs, 2006 |
| financial services data breaches: Guide to Protecting the Confidentiality of Personally Identifiable Information Erika McCallister, 2010-09 The escalation of security breaches involving personally identifiable information (PII) has contributed to the loss of millions of records over the past few years. Breaches involving PII are hazardous to both individuals and org. Individual harms may include identity theft, embarrassment, or blackmail. Organ. harms may include a loss of public trust, legal liability, or remediation costs. To protect the confidentiality of PII, org. should use a risk-based approach. This report provides guidelines for a risk-based approach to protecting the confidentiality of PII. The recommend. here are intended primarily for U.S. Fed. gov¿t. agencies and those who conduct business on behalf of the agencies, but other org. may find portions of the publication useful. |
| financial services data breaches: Model Rules of Professional Conduct American Bar Association. House of Delegates, Center for Professional Responsibility (American Bar Association), 2007 The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts. |
| financial services data breaches: Operations in Financial Services Michael Pinedo, Yuqian Xu, 2017-12-21 Operations in Financial Services establishes a framework for this research area from an operations management perspective. The first section presents an introduction and provides an overview of the topic. The second section establishes links between the current state of the art in relevant areas of operations management and operations research and three of the more important aspects of operations in financial services - (i) financial product design and testing, (ii) process delivery design, and (iii) process delivery management. The third section focuses on the current issues that are important in the financial services operations area. These issues center primarily on mobile online banking and trading in a global environment. The fourth section discusses operational risk aspects of financial services. The final section concludes with a discussion on research directions that may become of interest in the future. |
| financial services data breaches: Securing DevOps Julien Vehent, 2018-08-20 Summary Securing DevOps explores how the techniques of DevOps and security should be applied together to make cloud services safer. This introductory book reviews the latest practices used in securing web applications and their infrastructure and teaches you techniques to integrate security directly into your product. You'll also learn the core concepts of DevOps, such as continuous integration, continuous delivery, and infrastructure as a service. Purchase of the print book includes a free eBook in PDF, Kindle, and ePub formats from Manning Publications. About the Technology An application running in the cloud can benefit from incredible efficiencies, but they come with unique security threats too. A DevOps team's highest priority is understanding those risks and hardening the system against them. About the Book Securing DevOps teaches you the essential techniques to secure your cloud services. Using compelling case studies, it shows you how to build security into automated testing, continuous delivery, and other core DevOps processes. This experience-rich book is filled with mission-critical strategies to protect web applications against attacks, deter fraud attempts, and make your services safer when operating at scale. You'll also learn to identify, assess, and secure the unique vulnerabilities posed by cloud deployments and automation tools commonly used in modern infrastructures. What's inside An approach to continuous security Implementing test-driven security in DevOps Security techniques for cloud services Watching for fraud and responding to incidents Security testing and risk assessment About the Reader Readers should be comfortable with Linux and standard DevOps practices like CI, CD, and unit testing. About the Author Julien Vehent is a security architect and DevOps advocate. He leads the Firefox Operations Security team at Mozilla, and is responsible for the security of Firefox's high-traffic cloud services and public websites. Table of Contents Securing DevOps PART 1 - Case study: applying layers of security to a simple DevOps pipeline Building a barebones DevOps pipeline Security layer 1: protecting web applications Security layer 2: protecting cloud infrastructures Security layer 3: securing communications Security layer 4: securing the delivery pipeline PART 2 - Watching for anomalies and protecting services against attacks Collecting and storing logs Analyzing logs for fraud and attacks Detecting intrusions The Caribbean breach: a case study in incident response PART 3 - Maturing DevOps security Assessing risks Testing security Continuous security |
| financial services data breaches: Threat Forecasting John Pirc, David DeSanto, Iain Davison, Will Gragido, 2016-05-17 Drawing upon years of practical experience and using numerous examples and illustrative case studies, Threat Forecasting: Leveraging Big Data for Predictive Analysis discusses important topics, including the danger of using historic data as the basis for predicting future breaches, how to use security intelligence as a tool to develop threat forecasting techniques, and how to use threat data visualization techniques and threat simulation tools. Readers will gain valuable security insights into unstructured big data, along with tactics on how to use the data to their advantage to reduce risk. - Presents case studies and actual data to demonstrate threat data visualization techniques and threat simulation tools - Explores the usage of kill chain modelling to inform actionable security intelligence - Demonstrates a methodology that can be used to create a full threat forecast analysis for enterprise networks of any size |
| financial services data breaches: Cyber Risk Surveillance: A Case Study of Singapore Joseph Goh, Mr.Heedon Kang, Zhi Xing Koh, Jin Way Lim, Cheng Wei Ng, Galen Sher, Chris Yao, 2020-02-10 Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It is therefore important to integrate it into financial sector surveillance. This paper offers a range of analytical approaches to assess and monitor cyber risk to the financial sector, including various approaches to stress testing. The paper illustrates these techniques by applying them to Singapore. As an advanced economy with a complex financial system and rapid adoption of fintech, Singapore serves as a good case study. We place our results in the context of recent cybersecurity developments in the public and private sectors, which can be a reference for surveillance work. |
| financial services data breaches: Artificial Intelligence in Banking Introbooks, 2020-04-07 In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, In a world focused on using AI in new ways, we're focused on using it wisely and responsibly. |
| financial services data breaches: FinTech Development for Financial Inclusiveness Anshari, Muhammad, Almunawar, Mohamad Nabil, Masri, Masairol, 2021-11-26 Financial technology (FinTech) and its related products are considered a major disruptive innovation in financial services, substantially elevating financial solutions and new business models. Resulting from the fusion of finance and smart mobile technology, this innovative technology requires additional investigation into its adoption, challenges, opportunities, and future directions so that we may understand and develop the technology to its full potential. FinTech Development for Financial Inclusiveness moves beyond the theoretical areas of FinTech to comprehensively explore the recent FinTech initiative scenarios with respect to processes, strategies, challenges, lessons learned, and outcomes within economic development as well as trade and investment. Covering a range of topics such as decentralized finance and global electronic commerce, it is ideal for industry professionals, business owners, consultants, practitioners, instructors, researchers, academicians, and students. |
| financial services data breaches: INVESTIGATION of COMPETITION in DIGITAL MARKETS United States House of Representatives, Committee on the Judiciary, United States Congres, 2020-10-06 Jerrold Nadler, Chairman, Committee on the Judiciary David N. Cicilline, Chairman, Subcommittee on Antitrust, Commercial and Administrative LawIn June 2019 the Committee on the Judiciary initiated a bipartisan investigation into the state of competition online, spearheaded by the Subcommittee on Antitrust, Commercial and Administrative Law. As part of a top-to -bottom review of the market, the Subcommittee examined the dominance of Amazon, Apple, Facebook, and Google, and their business practices to determine how their power affects our economy and our democracy. Additionally, the Subcommittee performed a review of existing antitrust laws, competition policies, and current enforcement levels to assess whether they are adequate to market power and anticompetitive conduct in digital markets. Over the course of our investigation, we collected extensive evidence from these companies aswell as from third parties - totaling nearly 1.3 million documents . We held seven hearings to review the effects of market power online including on the free and diverse press, innovation, and privacy and a final hearing to examine potential solutions to concerns identified during the investigation and to inform this Report's recommendations . |
| financial services data breaches: Cyber Mercenaries Tim Maurer, 2018-01-18 Cyber Mercenaries explores the secretive relationships between states and hackers. As cyberspace has emerged as the new frontier for geopolitics, states have become entrepreneurial in their sponsorship, deployment, and exploitation of hackers as proxies to project power. Such modern-day mercenaries and privateers can impose significant harm undermining global security, stability, and human rights. These state-hacker relationships therefore raise important questions about the control, authority, and use of offensive cyber capabilities. While different countries pursue different models for their proxy relationships, they face the common challenge of balancing the benefits of these relationships with their costs and the potential risks of escalation. This book examines case studies in the United States, Iran, Syria, Russia, and China for the purpose of establishing a framework to better understand and manage the impact and risks of cyber proxies on global politics. |
| financial services data breaches: Report on the Activity of the Committee on Financial Services for the 109th Congress United States. Congress. House. Committee on Financial Services, 2007 |
| financial services data breaches: Cybersecurity and Data Protection in the Financial Sector United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs, 2012 |
| financial services data breaches: Cyberpower and National Security Franklin D. Kramer, Stuart H. Starr, Larry K. Wentz, 2009 This book creates a framework for understanding and using cyberpower in support of national security. Cyberspace and cyberpower are now critical elements of international security. United States needs a national policy which employs cyberpower to support its national security interests. |
| financial services data breaches: Markets for Cybercrime Tools and Stolen Data Lillian Ablon, Martin C. Libicki, Andrea A. Golay, 2014-03-25 Criminal activities in cyberspace are increasingly facilitated by burgeoning black markets. This report characterizes these markets and how they have grown into their current state to provide insight into how their existence can harm the information security environment. Understanding these markets lays the groundwork for exploring options to minimize their potentially harmful influence. |
| financial services data breaches: Big Breaches Neil Daswani, Moudy Elbayadi, 2021-06-02 The cybersecurity industry has seen an investment of over $45 billion in the past 15 years. Hundreds of thousands of jobs in the field remain unfilled amid breach after breach, and the problem has come to a head. It is time for everyone—not just techies—to become informed and empowered on the subject of cybersecurity. In engaging and exciting fashion, Big Breaches covers some of the largest security breaches and the technical topics behind them such as phishing, malware, third-party compromise, software vulnerabilities, unencrypted data, and more. Cybersecurity affects daily life for all of us, and the area has never been more accessible than with this book. You will obtain a confident grasp on industry insider knowledge such as effective prevention and detection countermeasures, the meta-level causes of breaches, the seven crucial habits for optimal security in your organization, and much more. These valuable lessons are applied to real-world cases, helping you deduce just how high-profile mega-breaches at Target, JPMorganChase, Equifax, Marriott, and more were able to occur. Whether you are seeking to implement a stronger foundation of cybersecurity within your organization or you are an individual who wants to learn the basics, Big Breaches ensures that everybody comes away with essential knowledge to move forward successfully. Arm yourself with this book’s expert insights and be prepared for the future of cybersecurity. Who This Book Is For Those interested in understanding what cybersecurity is all about, the failures have taken place in the field to date, and how they could have been avoided. For existing leadership and management in enterprises and government organizations, existing professionals in the field, and for those who are considering entering the field, this book covers everything from how to create a culture of security to the technologies and processes you can employ to achieve security based on lessons that can be learned from past breaches. |
| financial services data breaches: Spam Nation Brian Krebs, 2014-11-18 Now a New York Times bestseller! There is a Threat Lurking Online with the Power to Destroy Your Finances, Steal Your Personal Data, and Endanger Your Life. In Spam Nation, investigative journalist and cybersecurity expert Brian Krebs unmasks the criminal masterminds driving some of the biggest spam and hacker operations targeting Americans and their bank accounts. Tracing the rise, fall, and alarming resurrection of the digital mafia behind the two largest spam pharmacies-and countless viruses, phishing, and spyware attacks-he delivers the first definitive narrative of the global spam problem and its threat to consumers everywhere. Blending cutting-edge research, investigative reporting, and firsthand interviews, this terrifying true story reveals how we unwittingly invite these digital thieves into our lives every day. From unassuming computer programmers right next door to digital mobsters like Cosma-who unleashed a massive malware attack that has stolen thousands of Americans' logins and passwords-Krebs uncovers the shocking lengths to which these people will go to profit from our data and our wallets. Not only are hundreds of thousands of Americans exposing themselves to fraud and dangerously toxic products from rogue online pharmacies, but even those who never open junk messages are at risk. As Krebs notes, spammers can-and do-hack into accounts through these emails, harvest personal information like usernames and passwords, and sell them on the digital black market. The fallout from this global epidemic doesn't just cost consumers and companies billions, it costs lives too. Fast-paced and utterly gripping, Spam Nation ultimately proposes concrete solutions for protecting ourselves online and stemming this tidal wave of cybercrime-before it's too late. Krebs's talent for exposing the weaknesses in online security has earned him respect in the IT business and loathing among cybercriminals... His track record of scoops...has helped him become the rare blogger who supports himself on the strength of his reputation for hard-nosed reporting. -Bloomberg Businessweek |
| financial services data breaches: The Ethics of Information Technology and Business Richard T. De George, 2008-04-15 This is the first study of business ethics to take into consideration the plethora of issues raised by the Information Age. The first study of business ethics to take into consideration the plethora of issues raised by the Information Age. Explores a wide range of topics including marketing, privacy, and the protection of personal information; employees and communication privacy; intellectual property issues; the ethical issues of e-business; Internet-related business ethics problems; and the ethical dimension of information technology on society. Uncovers previous ignored ethical issues. Underlines the need for public discussion of the issues. Argues that computers and information technology have not necessarily developed in the most ethical manner possible. |
| financial services data breaches: CU 2.0 Kirk Drake, 2017-06-14 In recent decades, credit unions have seen unprecedented threats, due in large part to an eighty-year-old business model and an inability to adapt quickly to a digital economy. But Kirk Drake has devised a powerful plan to revitalize these noble institutions, making them more competitive, more creative, more connected with their membership, and more in tune with the times. A serial entrepreneur focused on credit-union technology, Drake has written a must-read manual for every CU board member, CEO, and management team in America. The first and only book of its kind, CU 2.0 offers essential strategies for leveraging the latest technologies to facilitate organizational growth and foster more even competition with the banking industry. With the tools provided here, the CU of tomorrow will be better equipped to empower its employees, while giving its members the superior financial service they want and need. It's time to be innovative and bold, to challenge long-standing inefficiencies and move away from the old school methods of doing business. CU 2.0 provides the skills, the savvy, and the fresh ideas necessary to finally transport the credit union out of the twentieth century and into the twenty-first. |
| financial services data breaches: Handbook of Digital Currency , 2015-05-05 Incorporating currencies, payment methods, and protocols that computers use to talk to each other, digital currencies are poised to grow in use and importance. The Handbook of Digital Currency gives readers a way to learn about subjects outside their specialties and provides authoritative background and tools for those whose primary source of information is journal articles. Taking a cross-country perspective, its comprehensive view of the field includes history, technicality, IT, finance, economics, legal, tax and regulatory environment. For those who come from different backgrounds with different questions in mind, The Handbook of Digital Currency is an essential starting point. Discusses all major strategies and tactics associated with digital currencies, their uses, and their regulations Presents future scenarios for the growth of digital currencies Written for regulators, crime prevention units, tax authorities, entrepreneurs, micro-financiers, micro-payment businesses, cryptography experts, software developers, venture capitalists, hedge fund managers, hardware manufacturers, credit card providers, money changers, remittance service providers, exchanges, and academics Winner of the 2015 Outstanding Business Reference Source by the Reference and User Services Association (RUSA) |
| financial services data breaches: The Essentials of Risk Management, Second Edition Michel Crouhy, Dan Galai, Robert Mark, 2013-12-06 The essential guide to quantifying risk vs. return has been updated to reveal the newest, most effective innovations in financial risk management Written for risk professionals and non-risk professionals alike, this easy-to-understand guide helps readers meet the increasingly insistent demand to make sophisticated assessments of their company’s risk exposure Provides the latest methods for measuring and transferring credit risk, increase risk-management transparency, and implement an organization-wide Enterprise risk Management (ERM) approach The authors are renowned figures in risk management: Crouhy heads research and development at NATIXIS; Galai is the Abe Gray Professor of Finance and Business Asdministration at Hebrew University; and Mark is the founding CEO of Black Diamond Risk |
| financial services data breaches: Report on the Activity of the Committee on Financial Services for the 110th Congress, January 2, 2009, 110-2 House Report 110-929 , 2009 |
| financial services data breaches: Report on the Activity of the Committee on Financial Services for the One Hundred Tenth Congress United States. Congress. House. Committee on Financial Services, 2009 |
| financial services data breaches: Developments in the Field of Information and Telecommunications in the Context of International Security United Nations. Office for Disarmament Affairs, 2011 This publication has been issued in implementation of the United Nations Disarmament Information Programme as a handy, convenient and attractive reference tool containing the report of the Secretary-General on verification in all its aspects, including the role of the UN in the field of verification. It also contains additional material related to the publication of the report. The publication continues the Disarmament Study Series and should serve as a valuable addition to the reference section of public and university libraries, permanent missions, research institutes and specialized non-governmental organisations. |
| financial services data breaches: Safeguarding Consumers' Financial Data United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on National Security and International Trade and Finance, 2015 |
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