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 >>
New York Proposes Mandatory Cyber-Security for Firms
NY DFS Proposes Regulation to Require Cyber-Security Programs The state of New York via the State Department of Financial Services (DFS) wants to require banks, insurance companies, and financial services institutions to “establish and maintain” a cyber-security program via a new regulation proposed by the DFS and Governor Andrew M. Cuomo. The impetus for the… Read More >>
SWIFT Fights Back Against Cyber Threats
SWIFT, operator of the world’s largest money-transfer system, hired information security vendor BAE Systems and consultant Fox-IT to work alongside a new in-house team of security experts. The aim is to sharpen its monitoring and response time following a series of cyber-attacks over the past year. According to the company, the outside firms “will complement… Read More >>
SWIFT Moves to Allay Fears over Cyber-Attacks
SWIFT is hoping to allay fears across its network with a new five-point program after three hacking incidents. The aim is not only to tighten its own defenses but ensure that its members are also reinforcing security within their own walls. Over the past year, the Belgium non-profit cooperative group has been indirectly involved in… Read More >>
House Committee to Probe Cyber-Attacks on U.S. Federal Reserve
A key committee of the U.S. House of Representatives will be probing approximately 50 alleged security breaches of the Federal Reserve between 2011 and last year. Lamar Smith (R-Texas), the chairman of the House Committee on Science, Space, and Technology, and Barry Loudermilk (R-Ga.), the chairman of the Oversight Subcommittee have reach out to U.S…. Read More >>
Hackers Collective Declares Cyber War on Financial Services
A collective of hackers known as “Anonymous,” has declared a 30-day war on “all central banks” across the globe, the Nasdaq stock market, the Bank for International Settlements, the International Monetary Fund, the London Stock Exchange, and major outlets for consumer-oriented financial services. The hackers have claimed their first victim, the Central Bank of Greece,… Read More >>
GreenKey and Symphony to Test App for Capturing Voice Quotes
Symphony to Integrate Greenkey App into Messaging Startup GreenKey, creator of “an extremely thin web application” for voice-based collaboration among financial services firms, is releasing a pilot version of a “voice quote capture” application. It will be available for enterprise clients of messaging vendor Symphony Communication Services for a pilot test, say officials from both… Read More >>
U.S. Fights Back Against Iranian Hackers
The threat of cyberattacks was prominent again in the news last week as the Department of Justice via the U.S. Attorney’s Office for the Southern District of New York unsealed grand jury indictments against seven hackers based in Iran charged with running coordinated cyber-attacks on U.S. financial services firms and securities exchanges. In fact, Justice… Read More >>
Hosting is a Serious Business: Fiserv
(Editor’s note: Many securities firms are embracing the hosted option be it a cloud-based offering, an application service provider (ASP) model or a “something-as-a-service” implementation. While much is made about the hands-off aspects of these hosted situations, operations staff members still have a lot of interactions with third-party suppliers. Tirdad Shojaie, senior vice president, product… Read More >>
BAE Profiles ‘World’s Most Dangerous Cybercriminals’
Six Types of Cybercriminal to Avoid BAE Systems, the London-based, multinational security company, recently released profiles of “six prominent types of cybercriminals” and detailed how they could hurt companies around the globe, officials say. Threat intelligence experts at BAE Systems have compiled a list, “The Unusual Suspects,” that has been created from “research that uncovers… Read More >>
