The document discusses cybercrime threats facing the banking system, including online fraud, malware, and hacking. These threats have grown significantly over the past 20 years, costing banks billions annually. Common cybercrimes impacting banks are phishing, identity theft, ransomware, and money laundering. To improve security, banks need better authentication systems, employee training, and integrated cybercrime laws. Overall, the rising costs of cybercrime pose a major risk to banks that must be addressed through increased security efforts.
Etude PwC/CIO/CSO sur la sécurité de l'information (2014)PwC France
http://bit.ly/Cybersecurite-sept14
Etude mondiale de PwC, CIO et CSO réalisée en ligne du 27 mars 2014 au 25 mai 2014. Les résultats présentés ici sont fondés sur les réponses de plus de 9700 CEO, CFO, CIO, RSSI, les OSC, les vice-présidents et des directeurs de l'information et des pratiques de sécurité de plus de 154 pays.
35 % des répondants sont d'Amérique du Nord, 34 % d'Europe, 14 % d'Asie-Pacifique, 13 % en Amérique du Sud, et 4 % du Moyen-Orient et d’Afrique.
Accenture re-organizing-todays-cyber-threatsLapman Lee ✔
Banks are facing an urgent need to bring fraud risk management and IT security—two historic silos—more closely together to combat mounting data security and cyber threats.
Cyber-attacks destroy the trusted relationship with customers and partners, the lifeblood of financial services. The industry is also behind the curve when it comes to adapting to the changes in working practices and consumer behaviour, driven by rapidly evolving smart devices.
Mitigating Cyber-Threat in the Financial Industry of Bangladesh using Biometr...Dr. Amarjeet Singh
Information is such a thing which if misused, leaked or breached can lead to undesirable consequences. Financial institutions have a lot of data of their customers. These data’s are regarding customers’ personal information, transactions and many more which are highly sensitive. The entire system by which financial institutions such as – banks run, are required to be secured from cyber breach. As by breaching these systems’ can lead to financial disaster. The rapid growth of IT infrastructure is not only considered a convenient way for customers in many perspectives but also it point out the lack of skilled manpower in our country. In banking sector, ATM, E-money laundering are the domain where crime occurred most of the time. So, this paper focuses on developing a conceptual framework based on secondary sources which included publications, journal, books etc. regarding the problem of cyber-threat happening in Bangladesh. It describes how a financial institute can make safe transaction using biometric based public key infrastructure with the help of digital certificate.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Shufti Pro identified various types of identity frauds in 2020 and as per the available information, businesses can expect an increase in criminal activities this year as well.
Etude PwC/CIO/CSO sur la sécurité de l'information (2014)PwC France
http://bit.ly/Cybersecurite-sept14
Etude mondiale de PwC, CIO et CSO réalisée en ligne du 27 mars 2014 au 25 mai 2014. Les résultats présentés ici sont fondés sur les réponses de plus de 9700 CEO, CFO, CIO, RSSI, les OSC, les vice-présidents et des directeurs de l'information et des pratiques de sécurité de plus de 154 pays.
35 % des répondants sont d'Amérique du Nord, 34 % d'Europe, 14 % d'Asie-Pacifique, 13 % en Amérique du Sud, et 4 % du Moyen-Orient et d’Afrique.
Accenture re-organizing-todays-cyber-threatsLapman Lee ✔
Banks are facing an urgent need to bring fraud risk management and IT security—two historic silos—more closely together to combat mounting data security and cyber threats.
Cyber-attacks destroy the trusted relationship with customers and partners, the lifeblood of financial services. The industry is also behind the curve when it comes to adapting to the changes in working practices and consumer behaviour, driven by rapidly evolving smart devices.
Mitigating Cyber-Threat in the Financial Industry of Bangladesh using Biometr...Dr. Amarjeet Singh
Information is such a thing which if misused, leaked or breached can lead to undesirable consequences. Financial institutions have a lot of data of their customers. These data’s are regarding customers’ personal information, transactions and many more which are highly sensitive. The entire system by which financial institutions such as – banks run, are required to be secured from cyber breach. As by breaching these systems’ can lead to financial disaster. The rapid growth of IT infrastructure is not only considered a convenient way for customers in many perspectives but also it point out the lack of skilled manpower in our country. In banking sector, ATM, E-money laundering are the domain where crime occurred most of the time. So, this paper focuses on developing a conceptual framework based on secondary sources which included publications, journal, books etc. regarding the problem of cyber-threat happening in Bangladesh. It describes how a financial institute can make safe transaction using biometric based public key infrastructure with the help of digital certificate.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Shufti Pro identified various types of identity frauds in 2020 and as per the available information, businesses can expect an increase in criminal activities this year as well.
As more and more data is received by companies every second it is vital for them to protect their customers at the highest level. Even the biggest tech giants did not avoid the failure: Google, Facebook
But there is another field that receives tremendous amounts of very private information - hotels
Let's discover how Marriott has overcame one of the biggest data 'leakages' in the history
Or it hasn't?
The FBI is the lead federal agency for investigating malicious cyber activity by criminals, nation-state adversaries, and terrorists. To fulfill this mission, the FBI often develops resources to enhance operations and collaboration. One such resource is the FBI’s Internet Crime Complaint Center (IC3) which provides the public with a trustworthy and convenient mechanism for reporting information concerning suspected Internet-facilitated criminal activity. At the end of every year, the IC3 collates information collected into an annual report.
Credit is due to all original authors and no financial gain was made from the blog, Simply sharing an interesting story for educational purposes,
Cyber Claims: GDPR and business email compromise drive greater frequenciesΔρ. Γιώργος K. Κασάπης
Business email compromise (BEC) has overtaken ransomware and data breach by hackers as the main driver of AIG EMEA cyber claims, according to the latest cyber claims statistics.
Nearly a quarter of reported incidents in 2018 were due to business email compromise (BEC), up significantly from 11% in 2017. Ransomware, data breach by hackers and data breach due to employee negligence were the other main breach types in 2018.
Growing incidents of cyber hacking and security breaches of information systems (e.g., Sony, Target, JPMorgan Chase, Home Depot, Cathay Pacific Airlines) threaten the sustainability of many firms and costs the U.S. economy more than $100 billion annually. Business organizations should take these threats seriously and improve their Information Technology (IT) governance and compliance, and cybersecurity risk assessment and controls to effectively prevent cyber hacking and cybersecurity breaches. The existence and persistence of cyber-attacks has elevated expectations for boards of directors to exert greater risk and compliance oversight and for executives to develop and implement managerial strategies for risk management processes to combat cyber-attacks. This paper examines the importance and relevance of IT governance measures including the board oversight function and managerial risk assessment strategies in preventing cyber-attacks. This paper provides policy, practical and research implications.
As we reflect on 2019, we see some notable shifts in the threat landscape, with businesses facing new levels of complexity
in fraud orchestration. Rather than looking for the quick buck, fraudsters are playing the long game, with multi-step attacks
that do not initially reveal their fraudulent intent.
As the saying goes, ‘money makes the world go round’, and this could not be more true for the cybercrime underworld.
Fraudsters’ unrelenting demand for fresh user credentials provides the financial incentive for cyber attackers carrying out
major data breaches. When fraudsters successfully leverage the spoils from these breaches to make money, they will use
the proceeds to invest in more advanced attack toolkits and greater volumes of stolen data. As a result, organizations find it
increasingly difficult to defend against the barrage of attacks on their websites and apps.
The only sustainable approach to curbing the cybercrime cycle of success is adopting a zero-tolerance approach to fraud
prevention. Tolerating current fraud levels as a 'cost of doing business' exacerbates the problem long-term by providing the
financial incentive for fraudsters. In-depth profiling of activity across customer touchpoints helps organizations facing subtle
attacks that do not show immediate tell-tale signs of fraud. When combined with targeted friction, large-scale attacks
quickly become unsustainable for fraudsters who have become accustomed to circumnavigating systems that avoid putting
up barriers to users.
As the latest data from the Arkose Labs platform show, attack rates are continuously on the rise. Going into 2020, the fraud fighting community needs to finally win back the upper hand against fraudsters, protecting individuals and our society from
the effects of cybercrime.
Over the last several years, financial institutions have spent billions of dollars and resources securing a perimeter defense system consisting of intrusion detection, intrusion prevention, firewalls, user authentication, and other layers of security all built to secure their financial systems. Due to the exponential increase in internal and external information security incidents, these investments are necessary to protect an institution’s reputation and revenue. In addition, the federal government is using regulatory means to ensure the banks
take responsibility for potential losses.
Of equal or even greater threat, however, are the social aspects of the Internet that cannot
be controlled. For example, financial institutions need to be aware of the reputational risk that is inherent on the Internet. Each institution needs to do more than reactively protect its data; it must also proactively safeguard its reputation online, where references to its corporate name alone can number in the millions. An institution must also guard against infringements against its logo, its trademarks or other graphic representations. This risk, outside the firewall, is the other side of the coin.
By David F. Larcker, Peter C. Reiss, and Brian Tayan
Stanford Closer Look Series, November 16, 2017
The board of directors is expected to ensure that management has identified and developed processes to mitigate risks facing the organization, including risks arising from data theft and the loss of information. Unfortunately, recent experience suggests that companies are not doing a sufficient job of securing this data. In this Closer Look, we examine they types of cyberattacks that occur and how companies respond to them.
We ask:
• What steps can the board take to prevent, monitor, and mitigate data theft?
• What data, metrics, and information should board members review to satisfy themselves that management has taken proper steps to minimize cyber risks?
• What qualifications should a board member have in order to constructively contribute to boardroom discussions on cybersecurity?
• How difficult is it to find board candidates with these skills?
Article global it systems are now even more vulnerable - paul wrightPaul Wright MSc
April 2020, Authour of the Article in the UAE Gulf Newspaper
"Global IT systems are now even more vulnerable"
https://bit.ly/3go8n7j
The effects of COVID-19 on businesses and global supply chains are being felt around the world. Aside from the economic impact, there have also been illegal and legal consequences, with an increase in cybercrime and business fraud, as cybercriminals try to take advantage of these uncertain times.
Combating Cybersecurity Challenges with Advanced AnalyticsCognizant
Using an AI-powered analytics platform, IT organizations can shift from a reactive approach to security breaches, to proactively identifying increasingly sophisticated threat vectors and quickly resolving exploitable vulnerabilities.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
The International Journal of Engineering and Science (The IJES)theijes
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
IBM X-Force Threat Intelligence Report 2016thinkASG
Download the latest IBM X-Force Threat Intelligence Report
High-value breaches stole headlines as lackluster security fundamentals left organizations open to attack in 2015.
* The globalization of security incidents is shifting to targets like health-related PII and sensitive personal data
* The growing sophistication and organization of cybercrime rings are helping expand their reach
* New attack techniques like mobile overlay malware are evolving, while classics like DDoS and POS malware remain effective
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
This purpose of this writing is to cover some of the core requirements for implementing cybersecurity, the accountabilities for cybersecurity risks and the information used to manage a viable cybersecurity program.
Solving the Encryption Conundrum in Financial ServicesEchoworx
Encryption has gone mainstream!
The encryption debate has captured the world’s attention. And coupled with the inevitability of another notable data breach, awareness of encryption as a tool to mitigate threat is at an all-time high. Still confidential financial statements, mortgage documents, and investment information are regularly sent unencrypted.
This white paper sets out some of the key rules, guidelines, best practices and associated risks for FINRA member firms and suggests ways that organizations can use encryption to protect themselves, their customers and representatives. In addition, it looks at some of the issues enterprises encounter when enabling email encryption technologies and ways to avoid them.
CYBERSECURITY STRATEGIES FOR SAFEGUARDING CUSTOMER’S DATA AND PREVENTING FINA...ijsc
As the financial sectors in the United States deal with expanding cyberthreats and a rising danger of
financial crime, cybersecurity has become a top priority. This paper examines the crucial cybersecurity
techniques used by financial institutions to protect client information and counter the growing risk of
financial fraud. It proves that understanding common fraud tactics used to defraud financial institutions
and customers, putting fraud detection and prevention techniques like anomaly detection and machine
learning into practice, and using transaction monitoring and anti-money laundering tactics to spot and
stop fraudulent activity are all necessary for preventing financial fraud. The paper begins by reviewing the
common cyber dangers affecting the financial industry and the strategies used by cybercriminals to
circumvent security precautions and take advantage of weaknesses. After looking at potential risks, the
paper highlights the importance of proactive cybersecurity measures and risk mitigation techniques. It
highlights crucial components of cybersecurity frameworks, including strong data encryption, multifactor
authentication, intrusion detection systems, and ongoing security monitoring. This paper also emphasizes
the value of educating and training financial institution staff members to increase cybersecurity resilience.
It underlines the significance of building a strong security culture, educating personnel about potential
dangers, and encouraging responsible management of client data. The study also explores the advantages
of financial organizations working together and exchanging threat knowledge. It examines industry
alliances, information-sharing platforms, and public-private partnerships as crucial methods for group
protection against cyber threats. This paper highlighted the significance of artificial intelligence and
machine learning in cybersecurity domain. It demonstrates how these technologies improve cybersecurity
systems' capabilities by spotting irregularities and potential attacks. It emphasizes the significance of
taking a proactive and dynamic strategy to securing client information and maintaining faith in the United
States’ financial sectors. Overall, this paper provides a thorough overview of cybersecurity tactics crucial
for protecting consumer data and avoiding financial fraud in the financial sectors across the United States.
By taking a vigilant, team-based, and technology-driven strategy, financial institutions may strengthen
their cyber defenses, protect the data of their clients, and defend the integrity of the financial system.
As more and more data is received by companies every second it is vital for them to protect their customers at the highest level. Even the biggest tech giants did not avoid the failure: Google, Facebook
But there is another field that receives tremendous amounts of very private information - hotels
Let's discover how Marriott has overcame one of the biggest data 'leakages' in the history
Or it hasn't?
The FBI is the lead federal agency for investigating malicious cyber activity by criminals, nation-state adversaries, and terrorists. To fulfill this mission, the FBI often develops resources to enhance operations and collaboration. One such resource is the FBI’s Internet Crime Complaint Center (IC3) which provides the public with a trustworthy and convenient mechanism for reporting information concerning suspected Internet-facilitated criminal activity. At the end of every year, the IC3 collates information collected into an annual report.
Credit is due to all original authors and no financial gain was made from the blog, Simply sharing an interesting story for educational purposes,
Cyber Claims: GDPR and business email compromise drive greater frequenciesΔρ. Γιώργος K. Κασάπης
Business email compromise (BEC) has overtaken ransomware and data breach by hackers as the main driver of AIG EMEA cyber claims, according to the latest cyber claims statistics.
Nearly a quarter of reported incidents in 2018 were due to business email compromise (BEC), up significantly from 11% in 2017. Ransomware, data breach by hackers and data breach due to employee negligence were the other main breach types in 2018.
Growing incidents of cyber hacking and security breaches of information systems (e.g., Sony, Target, JPMorgan Chase, Home Depot, Cathay Pacific Airlines) threaten the sustainability of many firms and costs the U.S. economy more than $100 billion annually. Business organizations should take these threats seriously and improve their Information Technology (IT) governance and compliance, and cybersecurity risk assessment and controls to effectively prevent cyber hacking and cybersecurity breaches. The existence and persistence of cyber-attacks has elevated expectations for boards of directors to exert greater risk and compliance oversight and for executives to develop and implement managerial strategies for risk management processes to combat cyber-attacks. This paper examines the importance and relevance of IT governance measures including the board oversight function and managerial risk assessment strategies in preventing cyber-attacks. This paper provides policy, practical and research implications.
As we reflect on 2019, we see some notable shifts in the threat landscape, with businesses facing new levels of complexity
in fraud orchestration. Rather than looking for the quick buck, fraudsters are playing the long game, with multi-step attacks
that do not initially reveal their fraudulent intent.
As the saying goes, ‘money makes the world go round’, and this could not be more true for the cybercrime underworld.
Fraudsters’ unrelenting demand for fresh user credentials provides the financial incentive for cyber attackers carrying out
major data breaches. When fraudsters successfully leverage the spoils from these breaches to make money, they will use
the proceeds to invest in more advanced attack toolkits and greater volumes of stolen data. As a result, organizations find it
increasingly difficult to defend against the barrage of attacks on their websites and apps.
The only sustainable approach to curbing the cybercrime cycle of success is adopting a zero-tolerance approach to fraud
prevention. Tolerating current fraud levels as a 'cost of doing business' exacerbates the problem long-term by providing the
financial incentive for fraudsters. In-depth profiling of activity across customer touchpoints helps organizations facing subtle
attacks that do not show immediate tell-tale signs of fraud. When combined with targeted friction, large-scale attacks
quickly become unsustainable for fraudsters who have become accustomed to circumnavigating systems that avoid putting
up barriers to users.
As the latest data from the Arkose Labs platform show, attack rates are continuously on the rise. Going into 2020, the fraud fighting community needs to finally win back the upper hand against fraudsters, protecting individuals and our society from
the effects of cybercrime.
Over the last several years, financial institutions have spent billions of dollars and resources securing a perimeter defense system consisting of intrusion detection, intrusion prevention, firewalls, user authentication, and other layers of security all built to secure their financial systems. Due to the exponential increase in internal and external information security incidents, these investments are necessary to protect an institution’s reputation and revenue. In addition, the federal government is using regulatory means to ensure the banks
take responsibility for potential losses.
Of equal or even greater threat, however, are the social aspects of the Internet that cannot
be controlled. For example, financial institutions need to be aware of the reputational risk that is inherent on the Internet. Each institution needs to do more than reactively protect its data; it must also proactively safeguard its reputation online, where references to its corporate name alone can number in the millions. An institution must also guard against infringements against its logo, its trademarks or other graphic representations. This risk, outside the firewall, is the other side of the coin.
By David F. Larcker, Peter C. Reiss, and Brian Tayan
Stanford Closer Look Series, November 16, 2017
The board of directors is expected to ensure that management has identified and developed processes to mitigate risks facing the organization, including risks arising from data theft and the loss of information. Unfortunately, recent experience suggests that companies are not doing a sufficient job of securing this data. In this Closer Look, we examine they types of cyberattacks that occur and how companies respond to them.
We ask:
• What steps can the board take to prevent, monitor, and mitigate data theft?
• What data, metrics, and information should board members review to satisfy themselves that management has taken proper steps to minimize cyber risks?
• What qualifications should a board member have in order to constructively contribute to boardroom discussions on cybersecurity?
• How difficult is it to find board candidates with these skills?
Article global it systems are now even more vulnerable - paul wrightPaul Wright MSc
April 2020, Authour of the Article in the UAE Gulf Newspaper
"Global IT systems are now even more vulnerable"
https://bit.ly/3go8n7j
The effects of COVID-19 on businesses and global supply chains are being felt around the world. Aside from the economic impact, there have also been illegal and legal consequences, with an increase in cybercrime and business fraud, as cybercriminals try to take advantage of these uncertain times.
Combating Cybersecurity Challenges with Advanced AnalyticsCognizant
Using an AI-powered analytics platform, IT organizations can shift from a reactive approach to security breaches, to proactively identifying increasingly sophisticated threat vectors and quickly resolving exploitable vulnerabilities.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
The International Journal of Engineering and Science (The IJES)theijes
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
IBM X-Force Threat Intelligence Report 2016thinkASG
Download the latest IBM X-Force Threat Intelligence Report
High-value breaches stole headlines as lackluster security fundamentals left organizations open to attack in 2015.
* The globalization of security incidents is shifting to targets like health-related PII and sensitive personal data
* The growing sophistication and organization of cybercrime rings are helping expand their reach
* New attack techniques like mobile overlay malware are evolving, while classics like DDoS and POS malware remain effective
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
This purpose of this writing is to cover some of the core requirements for implementing cybersecurity, the accountabilities for cybersecurity risks and the information used to manage a viable cybersecurity program.
Solving the Encryption Conundrum in Financial ServicesEchoworx
Encryption has gone mainstream!
The encryption debate has captured the world’s attention. And coupled with the inevitability of another notable data breach, awareness of encryption as a tool to mitigate threat is at an all-time high. Still confidential financial statements, mortgage documents, and investment information are regularly sent unencrypted.
This white paper sets out some of the key rules, guidelines, best practices and associated risks for FINRA member firms and suggests ways that organizations can use encryption to protect themselves, their customers and representatives. In addition, it looks at some of the issues enterprises encounter when enabling email encryption technologies and ways to avoid them.
CYBERSECURITY STRATEGIES FOR SAFEGUARDING CUSTOMER’S DATA AND PREVENTING FINA...ijsc
As the financial sectors in the United States deal with expanding cyberthreats and a rising danger of
financial crime, cybersecurity has become a top priority. This paper examines the crucial cybersecurity
techniques used by financial institutions to protect client information and counter the growing risk of
financial fraud. It proves that understanding common fraud tactics used to defraud financial institutions
and customers, putting fraud detection and prevention techniques like anomaly detection and machine
learning into practice, and using transaction monitoring and anti-money laundering tactics to spot and
stop fraudulent activity are all necessary for preventing financial fraud. The paper begins by reviewing the
common cyber dangers affecting the financial industry and the strategies used by cybercriminals to
circumvent security precautions and take advantage of weaknesses. After looking at potential risks, the
paper highlights the importance of proactive cybersecurity measures and risk mitigation techniques. It
highlights crucial components of cybersecurity frameworks, including strong data encryption, multifactor
authentication, intrusion detection systems, and ongoing security monitoring. This paper also emphasizes
the value of educating and training financial institution staff members to increase cybersecurity resilience.
It underlines the significance of building a strong security culture, educating personnel about potential
dangers, and encouraging responsible management of client data. The study also explores the advantages
of financial organizations working together and exchanging threat knowledge. It examines industry
alliances, information-sharing platforms, and public-private partnerships as crucial methods for group
protection against cyber threats. This paper highlighted the significance of artificial intelligence and
machine learning in cybersecurity domain. It demonstrates how these technologies improve cybersecurity
systems' capabilities by spotting irregularities and potential attacks. It emphasizes the significance of
taking a proactive and dynamic strategy to securing client information and maintaining faith in the United
States’ financial sectors. Overall, this paper provides a thorough overview of cybersecurity tactics crucial
for protecting consumer data and avoiding financial fraud in the financial sectors across the United States.
By taking a vigilant, team-based, and technology-driven strategy, financial institutions may strengthen
their cyber defenses, protect the data of their clients, and defend the integrity of the financial system.
Cybersecurity Strategies for Safeguarding Customer’s Data and Preventing Fina...ijsc
As the financial sectors in the United States deal with expanding cyberthreats and a rising danger of financial crime, cybersecurity has become a top priority. This paper examines the crucial cybersecurity techniques used by financial institutions to protect client information and counter the growing risk of financial fraud. It proves that understanding common fraud tactics used to defraud financial institutions and customers, putting fraud detection and prevention techniques like anomaly detection and machine learning into practice, and using transaction monitoring and anti-money laundering tactics to spot and stop fraudulent activity are all necessary for preventing financial fraud. The paper begins by reviewing the common cyber dangers affecting the financial industry and the strategies used by cybercriminals to circumvent security precautions and take advantage of weaknesses. After looking at potential risks, the paper highlights the importance of proactive cybersecurity measures and risk mitigation techniques. It highlights crucial components of cybersecurity frameworks, including strong data encryption, multifactor authentication, intrusion detection systems, and ongoing security monitoring. This paper also emphasizes the value of educating and training financial institution staff members to increase cybersecurity resilience. It underlines the significance of building a strong security culture, educating personnel about potential dangers, and encouraging responsible management of client data. The study also explores the advantages of financial organizations working together and exchanging threat knowledge. It examines industry alliances, information-sharing platforms, and public-private partnerships as crucial methods for group protection against cyber threats. This paper highlighted the significance of artificial intelligence and machine learning in cybersecurity domain. It demonstrates how these technologies improve cybersecurity systems' capabilities by spotting irregularities and potential attacks. It emphasizes the significance of taking a proactive and dynamic strategy to securing client information and maintaining faith in the United States’ financial sectors. Overall, this paper provides a thorough overview of cybersecurity tactics crucial for protecting consumer data and avoiding financial fraud in the financial sectors across the United States. By taking a vigilant, team-based, and technology-driven strategy, financial institutions may strengthen their cyber defenses, protect the data of their clients, and defend the integrity of the financial system.
Survival Guide for Million- Dollar CyberattacksPanda Security
Cybercrime is a very profitable and attractive business. This is a new phase of cyber theft that involves stealing money directly from banks, rather than from their customers, using phishing attacks to infect the computers of bank employees.
More info: http://bit.ly/2rjD6Gr
With recent developments in technology and increasing volumes of data now being stored and used, organizations are under intense pressure to secure sensitive data from all types of external and internal threats. The biggest challenge lies in being aware of the location and growth of basic information, and the usage of their critical data assets.
Detecting Frauds and Identifying Security Challenge | by Money2ConfMoney 2Conf
The Money 2.0 Conference dives into the latest market trends, enterprise risk management strategies, regulatory changes, and FinTech developments in the rapidly-evolving finance and insurance landscape. A three-day conference, it will delve into crucial topics such as the role of blockchain in banking, cybersecurity, digital forensics, spam identification; it will also review investments in emerging markets, money scam and fraud detection, retirement savings, and much more.
Listen to top-notch speakers from well-known organizations who will share their valuable insights and break down the latest developments so that you learn how to manage and grow your wealth in a secure manner! Join us on 18th-20th March 2022 in Dubai, UAE and on April 11th-13th 2022 in Las Vegas, USA.
With recent developments in technology and increasing volumes of data now being stored and used, organizations are under intense pressure to secure sensitive data from all types of external and internal threats. The biggest challenge lies in being aware of the location and growth of basic information, and the usage of their critical data assets.
Cybersecurity in BFSI - Top Threats & Importancemanoharparakh
Cybersecurity has been the major area of concern throughout 2022 and now 2023 is all set to witness a new version of cyber-attacks with advanced technologies.
Not Prepared for Hacks
U.S. News & World Report Weekly.
(May 30, 2014):
From Educators Reference Complete.
Copyright:
COPYRIGHT 2014 U.S. News and World Report, L.P.. All rights reserved.
http://www.usnews.com/
Full Text:
Data breaches are up and businesses aren't ready to deal with them
By Tom Risen
Hacking increased so much this past year that approximately half of U.S.
adults had their information stolen and less than half of U.S. companies have
taken enough precautions to protect consumer data, according to two studies
released this week.
Recent months have been filled with reports about hackers stealing credit
card data, online account passwords and other personal information from
consumers. These included data breaches of networks at retailers like Target
and Michaels, along with the Heartbleed security bug that made software
vulnerable to spying and online theft. Last week, in one of the latest major
security incidents, eBay urged its users to change their passwords
"because of a cyberattack that compromised a database containing
encrypted passwords and other non-financial data."
Approximately 110 million people, or 47 percent of adults, in the United
States have had their personal information exposed by such attacks, according
to a new study from CNNMoney and cybersecurity research firm the Ponemon
Institute. Attacks will likely become more frequent as Internet and mobile
device use grows, the report cautioned.
To make matters worse, companies are lagging behind trying to protect
themselves, according to PricewaterhouseCoopers' 2014 U.S. State of
Cybercrime Survey published Wednesday. Less than half of companies in the
survey took necessary steps to protect themselves. Only 38 percent
prioritized security investments based on the risks to their businesses, and
only 31 percent have a security strategy for the rapidly growing mobile
sector.
Businesses are unprepared in part because of poor cybersecurity training at
colleges, says Alan Paller, co-chair of the U.S. Department of Homeland
Security's Task Force on CyberSkills, which advises how to train
cybersecurity professionals. Security training was not provided for new
employees at 54 percent of the businesses in the PricewaterhouseCoopers
survey. "Colleges are creating people who can tell you about security
but they cannot fix the system," says Paller, founder of the SANS
Institute cybersecurity training organization.
Many cybersecurity specialists with practical computer expertise "are
not coming out of academia," Paller adds. Rather, "they are a lot
of self ...
Event Management System Vb Net Project Report.pdfKamal Acharya
In present era, the scopes of information technology growing with a very fast .We do not see any are untouched from this industry. The scope of information technology has become wider includes: Business and industry. Household Business, Communication, Education, Entertainment, Science, Medicine, Engineering, Distance Learning, Weather Forecasting. Carrier Searching and so on.
My project named “Event Management System” is software that store and maintained all events coordinated in college. It also helpful to print related reports. My project will help to record the events coordinated by faculties with their Name, Event subject, date & details in an efficient & effective ways.
In my system we have to make a system by which a user can record all events coordinated by a particular faculty. In our proposed system some more featured are added which differs it from the existing system such as security.
Forklift Classes Overview by Intella PartsIntella Parts
Discover the different forklift classes and their specific applications. Learn how to choose the right forklift for your needs to ensure safety, efficiency, and compliance in your operations.
For more technical information, visit our website https://intellaparts.com
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
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Automobile Management System Project Report.pdfKamal Acharya
The proposed project is developed to manage the automobile in the automobile dealer company. The main module in this project is login, automobile management, customer management, sales, complaints and reports. The first module is the login. The automobile showroom owner should login to the project for usage. The username and password are verified and if it is correct, next form opens. If the username and password are not correct, it shows the error message.
When a customer search for a automobile, if the automobile is available, they will be taken to a page that shows the details of the automobile including automobile name, automobile ID, quantity, price etc. “Automobile Management System” is useful for maintaining automobiles, customers effectively and hence helps for establishing good relation between customer and automobile organization. It contains various customized modules for effectively maintaining automobiles and stock information accurately and safely.
When the automobile is sold to the customer, stock will be reduced automatically. When a new purchase is made, stock will be increased automatically. While selecting automobiles for sale, the proposed software will automatically check for total number of available stock of that particular item, if the total stock of that particular item is less than 5, software will notify the user to purchase the particular item.
Also when the user tries to sale items which are not in stock, the system will prompt the user that the stock is not enough. Customers of this system can search for a automobile; can purchase a automobile easily by selecting fast. On the other hand the stock of automobiles can be maintained perfectly by the automobile shop manager overcoming the drawbacks of existing system.
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Cosmetic shop management system project report.pdfKamal Acharya
Buying new cosmetic products is difficult. It can even be scary for those who have sensitive skin and are prone to skin trouble. The information needed to alleviate this problem is on the back of each product, but it's thought to interpret those ingredient lists unless you have a background in chemistry.
Instead of buying and hoping for the best, we can use data science to help us predict which products may be good fits for us. It includes various function programs to do the above mentioned tasks.
Data file handling has been effectively used in the program.
The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
Welcome to WIPAC Monthly the magazine brought to you by the LinkedIn Group Water Industry Process Automation & Control.
In this month's edition, along with this month's industry news to celebrate the 13 years since the group was created we have articles including
A case study of the used of Advanced Process Control at the Wastewater Treatment works at Lleida in Spain
A look back on an article on smart wastewater networks in order to see how the industry has measured up in the interim around the adoption of Digital Transformation in the Water Industry.