Cybersecurity
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A vicious cybercycle: Hackers attack, banks react, hackers strike back
BANKING STRATEGIES In banking’s cash-and-coin-only days, robbers walked up to tellers, pulled out a gun and said “stick ’em up.” These days, thieves can just walk up to an ATM, unarmed, and perform a digital variation you could call “stick ’em out.” Case in point: In April, a man walked up to a Russian bank…
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Fake folks, real threat: How synthetic fraud fools financial institutions
BANKING STRATEGIES Parker Conrad’s LinkedIn page shows he has a thriving IT business, a loving family with “two princesses,” an electric car (a Chevy Volt, to be precise) and more than 500 connections. But here’s one thing it doesn’t show: Parker Conrad doesn’t exist. He is a fake persona, created by a Florida cyber security…
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From hacks and attacks to guarding your back: Eight actions security-savvy banks need to take
BANKING STRATEGIES An employee in the human resources department received an email that looked like it was from the boss and opened the attached word file. Only it wasn’t from the boss. And the attachment was what cybersecurity experts call malware, a virus that in this case gave the sender of the email access to…