Companies in the financial services sector experience 300 times more cyberattacks than any other industry. Cyberthieves target the sensitive Personally Identifiable Information (PII) and confidential data stored by Financial Institutions (FIs) because it can deliver a significant return when sold on the Dark Web. And, the cost of the security incident can rapidly add up to millions with remediation costing FIs an average of $206 per piece of exposed customer data. Continue reading
Business identity theft schemes and cybercrimes are targeting Small and Medium-Sized Businesses (SMBs) every day. In fact, the growing crimes against SMBs go well beyond creating fake W-2 forms with Employer Identification Numbers (EINs) to file a fraudulent tax return. Today’s cybercriminals can easily mask their attacks and commit any number of malicious acts from hacking into IT systems to compromising email accounts and network connections, and even spoofing Wi-Fi access points and redirecting traffic.
These same bad actors are also ready to engage in activity that will compromise intellectual property, download employee records, or even take on the discernible route of stealing financial funds with unauthorized access to, or, even opening up, financial accounts. Essentially, all of the threats large organizations must deal with – including the resources, technology and skills these fraudsters tout – SMBs must also face. But, without the specialized tiger teams that big companies often put together. And, all on a shoestring budget. Continue reading
EZShield was proud to participate as the Platinum Sponsor of Deluxe Exchange 2019, a prominent U.S. financial services conference. Industry leaders from across the nation converged on Miami, FL, to engage in thought-provoking discussions around strategies for market growth, as well as the latest innovations in fintech.
It was also a privilege for the EZShield team to host three sessions. Below is a recap of each, along with some key takeaways. Continue reading
Today’s mobile devices empower employees to stay connected to the office no matter where they are. Our mobile-first world has made companies more efficient and individuals more productive — it has also fueled a new gateway for cyberattacks that IT and InfoSec professionals need to defend against.
Here are just a few compelling examples of the impact Bring Your Own Device (BYOD) policies are having on information security: Continue reading
Your account holders entrust you with their personal and financial information. They also rely on you to protect it. Their identities and their wealth are more than just a name and number; they’re the foundation of who they are and the relationships that they’ve forged.
With the total number of identity crime victims at a record high, Financial Institutions (FIs) must be proactive to ensure that fraud and security incidents don’t rob them of account holder loyalty. Criminals can easily manipulate financial, medical, government, criminal, and even employment records. This sheer breadth of misuse makes identity crimes hard to detect, and even harder to repair without the right resources. Continue reading
Cybercrime is a lucrative business, and IT and Information Security (InfoSec) professionals’ jobs are only getting harder.
Advancements in mobile technology have transformed every employee into a roaming cybersecurity vulnerability. Many of us are now using our personal smartphones for work purposes. And, while that may seem harmless and cost-effective for an organization, personal mobile devices are now more powerful than the PCs of several years ago — and they’re just as open to cyber intrusions by hackers. This can lead to compromised data, resulting in breaches that can cost organizations millions of dollars per incident. Continue reading
Money impacts all our lives in many different ways. It pays for the essentials that keep us healthy and safe. It enables us to be ready for future expenses and plan new experiences. And it makes us feel good when we can share it with people in need.
Having a steady income can also eliminate financial anxiety. While money cannot buy happiness, studies have shown that, on average, happiness levels do increase with income up to roughly $75,000 in annual salary. The reason money increases happiness (up to a point) is that it takes a certain salary to feel financially secure.
In our interconnected world, the same security vulnerabilities exist across both desktop and mobile devices. As a result, this essentially doubles the number of endpoints that hackers, cybercriminals, and identity thieves can target. For enterprises, especially with the consumerization of IT through Bring Your Own Device (BYOD), this has fueled an enormous challenge for organizations everywhere.
This October marks the 15th annual National Cybersecurity Awareness (NCSAM) month. The need to better protect our nation’s critical infrastructure – otherwise known as the vast, worldwide connection of computers, data, and websites supporting our everyday lives, has never been at a more critical junction. With the volume and velocity of today’s data breaches, it’s more important than ever for individuals and businesses to proactively address the exposure of personal and confidential information. Continue reading
As new technologies emerge to transform the status quo, so does the opportunity for innovation around banking and payment services. Financial business leaders everywhere need to ensure they are investing in the right technology, and in some cases move away from legacy operations, even if it eats their own lunch.
But, as new technologies emerge, so to do the threats facing the industry. A lot of this has to do with the accelerated adoption of a digital lifestyle by consumers and enterprises. As a result, financial institutions must evaluate all possible risks to uphold the security standards of their account holders who entrust them with their sensitive personal and financial data. Continue reading