Financial Services IT – Computer Security Articles

Credit to Author: Lucas Mearian| Date: Mon, 24 Apr 2017 03:01:00 -0700

Blockchain sounds like a way to keep boats anchored, which isn’t a bad analogy, considering what the technology purports to do.

While some IT experts herald it as a groundbreaking way of creating a distributed, unchangeable record of transactions, others question the nascent technology’s usefulness in the enterprise, which has traditionally relied on centrally-administered databases to secure digital records.

Even so, companies are moving fast to try and figure out how they can use it to save time and money. And IT vendors are responding to customers calls for info, with some already looking to include it as part of their services.

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ComputerWorld Independent

How to protect yourself from ATM crime

March 25, 2017 admin Financial Services IT, Mobile & Wireless, Security

Credit to Author: Mike Elgan| Date: Sat, 25 Mar 2017 04:00:00 -0700

The ATM card is dead. Or is it?

Starting Monday, all 13,000 Wells Fargo ATMs will enable you to withdraw money without using your card, according to Jonathan Velline, head of Wells Fargo ATM and branch strategy.

It works like this: Open the Wells Fargo app on your phone. Tap a button in the app for a temporary eight-digit code. Then enter the code, followed by your PIN, to access your account.

Wells Fargo is the first major U.S. bank to offer app-based access to all of its ATMs.

Citigroup, Chase and Bank of America and others are working on similar ATM functions, with only some machines already upgraded.

wellsfargo atm code — Wells Fargo will enable ATM access without a card via a temporary eight-digit code accessible in its mobile app.
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ComputerWorld Independent

Recent malware attacks on Polish banks tied to wider hacking campaign

February 13, 2017 admin Financial Services IT, Malware & Vulnerabilities, Security

Credit to Author: Lucian Constantin| Date: Mon, 13 Feb 2017 09:43:00 -0800

Malware attacks that recently put the Polish banking sector on alert were part of a larger campaign that targeted financial organizations from more than 30 countries.

Researchers from Symantec and BAE Systems linked the malware used in the recently discovered Polish attack to similar attacks that have taken place since October in other countries. There are also similarities to tools previously used by a group of attackers known in the security industry as Lazarus.

The hackers compromised websites that were of interest to their ultimate targets, a technique known as watering-hole attacks. They then injected code into the websites that redirected visitors to a custom exploit kit.

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ComputerWorld Independent

'Fileless malware' attacks, used on banks, have been around for years

February 9, 2017 admin Cybercrime & Hacking, Financial Services IT, Security

Fileless malware attacks, which were recently discovered in the networks of at least 140 banks, telecoms and governments, account for about 15% of known attacks today and have been around for years in different forms.

“Fileless malware attacks are becoming much more common and circumvent most of the endpoint protection and detection tools deployed today,” Gartner security analyst Avivah Litan said.

A recent discovery of fileless malware was reported on Wednesday by researchers at Moscow-based Kaspersky Labs. The attackers have not been identified and “attribution [is] almost impossible,” according to Kaspersky.

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ComputerWorld Independent

Polish banks on alert after mystery malware found on computers

February 7, 2017 admin Cybercrime & Hacking, Financial Services IT, Malware & Vulnerabilities, Security

The discovery of malware on computers and servers of several Polish banks has put the country’s financial sector on alert over potential compromises.

Polish media reported last week that the IT security teams at many Polish banks have been busy recently searching their systems for a particular strain of malware after several unnamed banks found it on their computers.

It’s not clear what the malware’s end goal is, but in at least one case it was used to exfiltrate data from a bank’s computer to an external server. The nature of the stolen information could not be immediately determined because it was encrypted, Polish IT news blog Zaufana Trzecia Strona reported Friday.

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ComputerWorld Independent

Online card fraud up as thieves avoid more secure chip cards for in-store payments

February 3, 2017 admin Financial Services IT, Mobile Security, Security

One unfortunate side effect from the use of chip cards for in-store purchases has been an increase in online credit-card fraud.

Hackers have taken the path of least resistance, moving from in-store fraud to e-commerce fraud, according to security experts.

Deterred by the security capabilities of chip cards for in-store payments, thieves have resorted to stealing credit-card numbers and passwords or opening new accounts with false credentials to use in making online payments for purchases, according to recent studies. Botnets also comprise some of the biggest increases in online card fraud.

ComputerWorld Independent

Hackers seek company insiders on the black market

February 2, 2017 admin Cybercrime & Hacking, Financial Services IT, Security

If you’re the CEO of a company, here’s another threat you need to worry about: hackers trying to recruit your employees for insider-related crimes.

Researchers at security firms RedOwl and IntSights have noticed growing activity from online black market dealers trying to recruit company employees for insider trading and cashing out stolen credit card numbers.

These dealers are appearing on underground forums located on the dark web, which are accessible through Tor, a browser designed for anonymous web surfing, according to the researchers, who published their findings on Tuesday.

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