False-positive cybersecurity alerts may expose organizations to data breaches instead of protecting them from real cybersecurity threats.
Information security teams waste time and effort tracking false positives—time that could be devoted to fighting actual threats.
A 2018 joint study conducted by the Ponemon Institute and Accenture continue to paint a bleak picture of the state of cybercrime in the financial services industry. Without enough IT professionals to thwart all the incoming threats, AI has proven to be a useful tool for cybersecurity in financial services.
The study concluded that the average number of security breaches plaguing financial services firms rose nearly 10 percent over last year and cost the sector nearly double what it cost the retail sector.
With data breaches at an all-time high, cybersecurity practices are more important than ever before. Some may overlook password management as part of their suite of security best practices, but they shouldn’t. The truth is, studies show your chances of being hacked are close to 31 percent—approximately 1 out of 3.
The European General Data Protection Regulation (GDPR) has transformed the way businesses think about protecting private data - not just in the EU, but worldwide. Organizations of all sizes and types, and cloud service providers small and large, must adjust to the notion that people now fully own information about themselves. I recently sat down with Patrick Townsend, Founder and CEO of Townsend Security, a company that specializes in data encryption and key management, to discuss GDPR, the right of erasure (also known as the right to be forgotten), and how to avoid bad key management practices that will result in GDPR compliance failures.
A SOC 1 audit report focuses on the general business processes and effectiveness of IT computer controls of third-party vendors. This type of report is more relevant than ever, given the rise in SaaS adoption among all organizations.
Cybersecurity is more than a technology issue. It’s a business imperative. Finding the right partner for your IT security audit is key.
Notable among the many cybersecurity regulations and compliance standards is the ISO 27001. Much like newer compliance regulations such as GDPR and Cybersecurity Regulation 23 NYCRR 500, ISO 27001 accreditation is designed to help organizations keep information assets secure.
In the wake of several high-profile cybersecurity breaches over the past few years, 42 states have introduced more than 240 bills aimed at reining in the frequency and severity of cybersecurity incidents targeting U.S. organizations. In New York, the Department of Financial Services enacted Cybersecurity Regulation 23 NYCRR 500.
You may have moved data to the cloud. But that doesn’t mean your responsibilities for securing it are gone. Cloud penetration testing is an essential part of cloud security.
Eager to embrace the cloud’s efficiency, organizations often solely rely on their cloud-service providers to secure data.
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Here are some cybersecurity trends and threats the financial sector will want to keep an eye on as the cybersecurity landscape continues to evolve: