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BID Newsletters
Nov 21, 2022
Hybrid work arrangements are here to stay. Given this reality, CFIs should be aware of the cybersecurity risks created when people work from home and how to protect against them.
Oct 12, 2022
The financial sector is facing a debilitating cybersecurity talent shortage. In a proactive response, many companies are broadening candidate pipelines and cultivating talent on their own terms. We dive into several examples of unconventional, yet practical, talent sourcing methods.
Jun 6, 2022
According to the 2021 CSBS National Survey of Community Banks, cybersecurity risks remain the leading operational concern for community financial institutions. Here we look at six strategies institutions could deploy to contain the threat, protect their data and retain their customers’ trust.
Mar 18, 2022
With 58% of C-suite and senior business leaders reporting that cyberattacks increased by 10% or more in 2021 vs. 2020, cybersecurity is increasingly vital. We review the top cybersecurity concerns from the 2021 CSBS National Survey of Community Banks and share an important tool to use in protecting your institution against surging cyber risks.
Oct 28, 2021
Cyberthieves are not slowing down. But, the Financial Services Information Sharing and Analysis Center provides an option to help. Thousands of financial institutions have joined an initiative to pool online intelligence information to fight back. Could your institution benefit from this too?
May 17, 2022
Cybersecurity is a top priority these days. Cybercriminals are crafty and can find their way in. Last year, all forms of cybercrime showed an increase, resulting in $6.9B of losses. Today, we cover five forms of cybercrime that particularly stand out.
Oct 3, 2022
As the amount of online fraud continues to rise, there is mounting evidence that information-sharing initiatives around the world could provide a glimpse into the future of how financial institutions can most effectively identify and combat cybersecurity attacks.
Sep 8, 2022
A June 2022 report from Allure Security, a cybersecurity firm that specializes in protecting financial institutions, says that about 20% of CFI’s are the targets of website impersonation attacks. Rather than simply assume that website impersonation attacks are something that happens to larger banks, CFIs should be proactive about protecting themselves and their customers from this kind of fraud. We explore a few tactics to keep your CFI and your customers safe.
Apr 5, 2022
Cybersecurity is a constant concern. Yet, with the latest Russian cyber threats, it is becoming even more important. Your small business customers could be affected, directly and indirectly. So, we dig deeper to provide you with the current top threats and critical protective measures.
Jan 24, 2022
Are you protected against drive-by skimming and supply chain website attacks? These can be hard to detect even with the usual cybersecurity measures such as firewalls, penetration tests, and security assessments. We explain how these attacks happen and what community financial institutions can do to mitigate the risk of these occurring to them.
Nov 23, 2021
This year has certainly been a year of change. Today we look back on how some fundamental changes to the regulatory and cybersecurity landscape have affected community financial institutions. It’s been a year of renewed focus on compliance and risk, the LIBOR transition, and increasing threats from cybercriminals.
Aug 5, 2021
Risk managers have always been important at community financial institutions. However, the pandemic increased their responsibilities and made their roles even more pivotal. The top areas that are keeping these managers busier than ever include: enhanced risk modeling, cybersecurity & fraud, increased exposures through fintech partnerships, more regulation, and the evolving nature of the role itself.
Jan 6, 2021
How are financial institutions spending their technology dollars in 2021? Some of the areas include digital advancements, AI, digital currencies, and cybersecurity.
Dec 14, 2020
The PPP brought much-needed funds to many businesses. Yet, it has also brought fresh fraud opportunities. We highlight the three latest cybersecurity scams connected with PPP to protect you and your customers.
Dec 1, 2022
Cyber criminals lurk in a murky digital netherworld just beyond a CFI’s security wall. Knowing how to monitor those cyber spaces can help protect against breaches. We discuss a few growing cyber threats as well as strategies to enhance your CFI’s digital protection to prevent potential attacks.
Nov 10, 2022
A recent survey indicates that 89% of IT security leaders at financial services firms think authentication systems that use biometrics, push notifications, and other alternatives are more secure than passwords. Though CFIs will have challenges implementing password-free systems, the reward could be safer data and better customer satisfaction.
Oct 5, 2021
Software vulnerabilities cause severe headaches for IT personnel. The number of vulnerabilities has almost tripled from just under 6,500 in 2015 to more than 18,300 in 2020. Is your IT team ready for this exponential explosion? We discuss why it is vital to address these software issues and provide you with three steps to help keep your institution and customers safer.
Jul 30, 2021
In Verizon’s 2020 Data Breach Investigations Report, it was found that 81% of all breaches involved stolen or weak passwords. The human element in passwords is the main reason for the continuing frailty of passwords. Now, Apple and Google have new approaches to passwords. We guide you through them along with password managers and MFA to help keep your staff and customers safe.
Jun 17, 2021
Infamous cybercriminals caused the Colonial Pipeline breach and also hacked into three community banks within the same timeframe. Seven tips can help protect your institution, including: educating employees, limiting network exposure, backing up data, automatically updating devices, contacting the FBI if attacked, reminding customers regularly, and keeping resources handy.
May 10, 2021
Dark web sites are only accessed with encrypted software to allow stolen financial information to be sold to cyberthieves anonymously. It is a lucrative operation as these illegal sites have been known to make over $1B. Three ways to help stem the tide of stolen financial data are using Open Source Intelligence tools to search the dark web, keeping updated on new threats, and working with law enforcement.