The recent ransomware attack on Evolve Bancorp, a prominent player in the FinTech sector, has once again thrust the pressing issue of cybersecurity into the spotlight. The breach, attributed to the LockBit ransomware gang, resulted in the theft of 33 terabytes of sensitive banking data,
Identity fraud has become a significant concern for businesses and consumers alike, with losses reaching nearly $23 billion last year. A particularly challenging aspect of this issue is synthetic identity fraud, where criminals combine real and fake information to create fraudulent identities.
The rapid evolution and adoption of generative AI (GenAI) technologies are revolutionizing industries from finance to healthcare. Alongside these advancements comes an urgent need for robust cybersecurity solutions to protect sensitive enterprise data and counteract the unique threats posed by AI.
The burgeoning fintech industry is primed for an unprecedented era of growth, with revenues expected to surge from $245 billion to a staggering $1.5 trillion by 2030. However, this rise is not without its challenges; as the industry expands, so too does the scope of cyber threats. Fintech firms,
In a rapidly digitizing world, the financial sector stands at a crossroads, confronting a surge in cyber threats capable of unraveling the fabric of global economic trust. The stakes have never been higher, as the sector is propelled into a future where technology underpins every transaction, every
The Automated Clearing House (ACH) network is crucial for financial transactions in the U.S., from salary deposits to bill payments. This network's security is vital, but is the banking system fully equipped to handle a cyber assault on the ACH? A collaborative effort by the Global Resilience
