Tag Archives: banking

$90 Million Cyber Thefts From Banks Using SWIFT Network Raise Security Issues

In February 2016, attackers stole $81 million from the Bangladesh central bank’s account at the New York Federal Reserve Bank by hacking into the Bangladesh bank’s computer network and sending fraudulent messages through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment network. In January 2015, attackers netted $9 million in funds from an Ecuadorian … Continue Reading

New York Department of Financial Services Sets Forth Extensive Cybersecurity Regulatory Framework Proposal

On November 9, 2015, the New York State Department of Financial Services (NYDFS) issued a letter to the members of the Financial and Banking Information Infrastructure Committee (FBIIC) detailing a new cybersecurity framework proposal for “covered entities,” or financial institutions regulated by NYDFS. The framework builds on data from NYDFS reports surveying cybersecurity programs from … Continue Reading
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