With the new PCI standards, the Payment Card Industry Security Standards Council intends to reduce credit card fraud. But the new standards may not be enough.
SEC security measures, or cyber enforcement actions, are powerful incentives for financial institutions to protect investments and data from theft and fraud.
The cryptocurrency industry is both beloved and feared for being the so-called Wild West of finance. Beloved because of minimal regulation and at least a measure of anonymity. Feared because of minimal protection. There is no Federal Reserve to set a value, no FDIC to guarantee at least a portion of what you have stored […]
Posted in Financial Services Security | Comments Off on Regulation looming for cryptocurrency
Anonymity—one of the biggest draws of cryptocurrency and the blockchain infrastructure it depends on—could get turned on its head if the vision of the head of the International Monetary Fund (IMF) comes true. Christine Lagarde, managing director of the IMF, called in a recent blog post for more regulation of the cryptocurrency market—to include the […]
Posted in Financial Services Security | Comments Off on IMF wants to pierce the blockchain anonymity veil
In Part 1 of our article on blockchain security and cryptocurrency, we took a hard look at the core components that make up a successful cryptocurrency like Bitcoin. From the distributed network itself to the individuals who wish to own and use a cryptocurrency wallet to transfer or spend Bitcoin, security is key (pun intended) […]
Posted in Financial Services Security | Comments Off on Blockchain security and the cryptocurrency boom, Part 2: Application
This week in Open Source Insight, we examine blockchain security and the cryptocurrency boom. Plus, take an in-depth look at open source software in tech contracts with a legal expert from Tech Contracts Academy, Adobe Flash Player continues to be a security concern, the Open Source Initiative turns 20, and step-by-step instructions for migrating to […]
Thanks to Bitcoin, it’s fair to say that “blockchain” is a buzzword at the moment—like DevOps, or Zumba. This article isn’t going to dive into what a blockchain is, because many others out there already do that. Here’s a pretty good one that has a snappy description of the evolution of Bitcoin and its symbiotic […]
Posted in Financial Services Security | Comments Off on Blockchain security and the cryptocurrency boom, Part 1: Theory
The rapid growth of custom and open source applications deployed in businesses worldwide means that all companies have significant software assets. In some industries, agile development and open source software have enabled a technological evolution, to the point of creating new business models. FinTech is one example of an industry established around technologies, delivering automated and […]
Taking a look at the findings in the 2017 Open Source Security and Risk Analysis Report Synopsys is a company that thrives off data. In fact, it’s essential to our business. I’m constantly impressed by the amount of data that we collect and the level to which our employees embrace the data-driven mentality here. We […]
In 2014, remote attackers hit J.P. Morgan Chase and the associated website of the J.P. Morgan Corporate Challenge, affecting 76 million households and 7 million small businesses. Financial services are high value targets. Even when collecting only the name and address of a high-asset account holder, that information can still be profitable on the black […]
Posted in Financial Services Security | Comments Off on 7 ways financial services firms can protect themselves