The U.K. Payment Systems Regulator wants to reduce the reimbursement cap on authorized push payment fraud to ease the burden on smaller banks. That's unacceptable and would undermine the financial system's integrity, said Jonathan Frost, board member at the Stop Scams Alliance.
In the latest weekly update, ISMG editors discussed the fallout from the CrowdStrike global IT outage on endpoint security tools, Mastercard's monumental acquisition of Recorded Future to bolster its cybersecurity portfolio, and the latest efforts by U.S. officials to secure the 2024 election.
Geopolitical tensions have heightened cross-border fraud, with criminals exploiting technological advances and regulatory gaps between countries. Shilpa Arora, head of anti-financial crime products at ACAMS, discusses ways banks can tackle cross-border fraud schemes.
George Chacko, executive director of information security and compliance at New York Blood Center, shares his journey in cybersecurity, the challenges for nonprofit organizations with limited budgets and resources, and collaborative initiatives to improve security programs.
Healthcare organizations often face obstacles in sharing cybersecurity information. Phil Englert and Errol Weiss from Health-ISAC advocate for shifting the focus from legal risks to business risks, improving incident response and building resilience through collaboration and transparency.
In the latest weekly update, ISMG editors discussed the implications of the recent arrest of Telegram's CEO in Paris for encrypted messaging services, the transformative impact of artificial intelligence in cybersecurity, and the latest regulations designed to curb fraud in electronic payments.
The Digital Operational Resilience Act aims to reshape the financial services industry by introducing strict cybersecurity standards. Financial institutions must comply with the new rules by Jan. 17, 2025, or face severe penalties, said Richard Breavington, head of cyber and tech insurance at RPC.
Ransomware remains a critical concern for healthcare systems, affecting the availability of patient care. Hugo Lai, CISO at Temple University Health System, said defenders need to understand the dependencies within business processes to effectively combat ransomware.
In the latest weekly update, Information Security Media Group editors discussed how CrowdStrike's competitors are responding to its outage, why security vendors want to serve the unique needs of SMB organizations and the status of U.N. efforts to develop a treaty designed to combat cybercrime.
The NIS2 Directive focuses on addressing gaps and strengthening the security of network and information systems across the European Union. NIS2 mandates rapid incident reporting and holds senior management accountable for cybersecurity, shifting responsibilities to the board level.
Recent developments suggest the U.S. is taking a more serious approach to holding faster payments platforms accountable for scams. It's unlikely any changes will occur before the November U.S. election, but the move toward more regulation is a good start, said Ken Palla, retired MUFB Bank director.
SquareX founder Vivek Ramachandran discusses the limitations of secure web gateways, focusing on their inability to handle dynamic, script-based attacks. He emphasizes the need for browser-native security products that offer real-time protection against evolving web threats.
Artificial intelligence is transforming cybersecurity on both offensive and defensive fronts. Attackers use AI to iterate and modify exploits rapidly, making malicious code harder to detect, said Tim Gallo, head - global solutions architects, Google.
Despite their illicit activities, ransomware groups invest in custom infrastructure and maintain stringent security practices, often surpassing Fortune 100 companies. Vangelis Stykas, CTO of Atropos, explains why ransomware infrastructure is harder to exploit than enterprise systems.
Scattered Spider, a notorious cyberthreat group, has continued its operations despite a series of high-profile arrests. The group's decentralized structure, in which members operate independently, contributes to its resilience, said Malachi Walker, security adviser at DomainTools.
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