77 Results from 2017, /security
Retired Member
Following on from the UK’s decision to introduce new coins, there has been a lot of debate around the value of the expensive change over. So much so, that many have looked at whether we would have been wiser to increase the security and adoption of contactless payment methods and digital currency, than investing in a declining payment method – cas...
31 March 2017 /security /payments Trends in Financial Services
Vipin Kumar Sharma IT and Consulting Delivery Manager at Infosys Ltd
Recently one news article caught my attention and reminded me of an exceptional experience of my trading days. A German bank accidentally transferred more than 5 billion euros to four other banks due to some internal system issues. Interestingly, this is not the first time for this bank. Even earlier, just when Lehman Brothers filed for bankrupt
30 March 2017 /security /regulation Operational Risk Management
Paul Irvine Director, Major Accounts UK&I at Fortinet
The single biggest issue we keep hearing about from financial institutions is the need to simplify and consolidate their security infrastructure. As Financial Services has evolved from person-to-person transactions to the fully digital business model it is today, network infrastructure has had to evolve as well – which has led to it becoming incre...
29 March 2017 /security Information Security
Cloud technology is the salvation of the financial services industry. The cloud’ elasticity brings a new level of efficiency by matching volume to capacity. The cloud gives enterprise protection against cyber crime and is compliant with data regulations. Financial services are a stovepipe industry . Built on bespoke legacy systems installed before...
27 March 2017 /security Innovation in Financial Services
In 1983, I completed a computer security test for a Top Tier U.S. bank. Their idea not mine, because the CEO was alert enough and worried about early signs of computer crime in banking. I never considered myself a computer security expert then, and certainly not now. But the bank chose me as a guy who knew banking IT from A to Z, and could develo...
24 March 2017 /security Information Security
While there is always the debate about what the biggest cybersecurity threat is today—DDoS attacks, ransomware, SQL injections, etc.—there is consensus that, based on total dollars lost, the use of automated bots to commit fraud has risen to the top of the list. Botnets are a type of malware that allows an attacker to take control of an affected c...
23 March 2017 /security Information Security
Tom Hay Principal Consultant at Payment Systems Europe
The wait is over. The European Banking Authority (EBA) has recently published its ‘final’ Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and common and secure communication under PSD2. PSD2 and particularly the SCA aspect has the potential to dramatically change not just the payments sector but the wider banking mark...
10 March 2017 /security /payments
The face of cyber security is changing constantly, and 2017 will be no exception. Here are seven cyber predictions and trends that we’ve seen emerging in 2017 and will gain in importance as the year progresses and beyond. 1) Businesses handling EU citizens’ data will be concerned about General Data Protection Regulation (GDPR). The regulation, whic...
09 March 2017 /security /regulation
The leak of almost 9,000 documents detailing hacking and surveillance techniques used by the CIA is shocking, but not for the reasons many people think. Reading that your Smart TV or mobile phone could be monitoring what you say in your own house is alarming, but the real issue isn’t that the CIA spies on people. It’s not even that they do it thr...
09 March 2017 /security /regulation Information Security
Today there are various choices for US Companies to perform offshore programming development known as Offshoring or Outsourcing. A portion of the nations that represent considerable authority in offshoring India, China, Costa Rica, Russia, Philippines, Eastern Europe and Brazil. Cost is the principle reason most US Companies consider outsourcing p...
06 March 2017 /security Business Knowledge for IT
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