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
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
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
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 […]
Posted in Data Breach, Financial Services Security, Open Source Security
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
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 […]
Posted in Financial Services Security, Open Source Security, Security Standards and Compliance
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 […]
Posted in Financial Services Security, Open Source Security
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
On Wednesday three U.S. bank regulators issued an advance notice of proposed rulemaking (ANPR) calling on banks to do more with their cybersecurity programs. The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have proposed a set of standards. The standards, which are open to discussion […]
Posted in Financial Services Security
Months after February’s high-profile $81 million heist at Bangladesh Bank, the global financial messaging system known as SWIFT said it has faced additional attempts to steal money starting in June. SWIFT messaging services are used and trusted by more than 11,000 financial institutions in more than 200 countries and territories around the world, according to […]
Posted in Data Breach, Financial Services Security
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