In the wake of China’s latest hack, where so-called advanced persistent threats (APTs) accessed U.S. Treasury Department workstations, cybersecurity experts warn that high-risk financial markets must treat third-party cyber risks “as their own.” Criminal actors compromised BeyondTrust, a widely trusted cybersecurity company used by numerous organizations, especially in the federal government. It specializes in providing… Read More >>
FINRA Warns of Post-CrowdStrike Secondary Attacks
Financial Industry Regulatory Authority (FINRA) officials have issued a warning that the global disruption caused by the CrowdStrike Outage could be followed by secondary attacks. “In connection to the widespread disruption, member firms should be aware they may experience secondary attacks from cyber criminals seeking to leverage this incident to carry out social engineering and… Read More >>
SEC Charges BitFunder Founder With Fraud
The SEC has charged BitFunder, a bitcoin cryptocurrency platform, and its founder and operator Jon E. Montroll with “operating an unregistered securities exchange and defrauding users of that exchange.” The SEC also charged Montroll with “making false and misleading statements in connection with an unregistered offering of securities.” Those alleged “false and misleading statements” also… Read More >>
SWIFT Customers Under New Cyber-Attack
The customers of the SWIFT cooperative for financial messaging and related systems are facing a new set of cyber-attacks, a month after SWIFT unveiled an effort to make cyber protections mandatory. The new attack upon SWIFT clients was discovered by anti-virus/anti-malware vendor Symantec, which is identifying the culprit as the “Odinaff group,” which while challenging… Read More >>
CFTC Wants Firms to Test Cybersecurity Systems
The CFTC has finalized new rules for cybersecurity safeguards systems-testing requirements at its most recent open meeting at which Chairman Timothy Massad called the risk of cyberattack “probably … the single greatest threat to the stability and integrity of our markets today.” At the meeting, commissioners approved final rules for testing requirements for designated contract… Read More >>
