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There is no sign that the level of cyber risk in the banking sector is likely to decrease. According to Cybersecurity Ventures, global cybercrime costs will reach 10.5 trillion U.S. dollars annually by 2025. No matter how frightening these statistics may seem, banking organizations have a chance to avoid financial and reputational losses. How, you may ask? #cybersecurityinbanking #artificialintelligence

Worried about staying safe while managing your finances online? Check out my latest blog on the growing cybersecurity risks associated with digital transactions. From online shopping to online banking, learn actionable tips to safeguard your financial data and protect yourself from online threats. #Cybersecurity #OnlineSafety #FinanceSecurity Read now: https://lnkd.in/g8YT3hQj

5 Things That Can Happen To You When You Do Internet Banking. Though Internet banking makes our lives easy. However, it faces several cybersecurity challenges that demand constant attention to mitigate potential threats. Here are some threats you are some you should be aware of: 🔵 Man-in-the-Middle Attacks: Hackers intercept communication between the user and the bank, potentially altering or stealing information. 🔵 Data Breaches: Unauthorized access to the bank’s database can lead to the compromise of customer data. 🔵 Distributed Denial of Service (DDoS): Attackers flood banking servers with traffic, disrupting services and causing downtime. 🔵 Phishing Attacks: Cybercriminals create fake emails or websites to trick users into sharing sensitive information such as login credentials or personal data. 🔵 Malware: Viruses, Trojans, or spyware can infect users' devices, compromising sensitive banking information. Would you like to add to this list? Raji Tolase Chiemerie Owulezi Sümeyye Betül Sayan Paulette Hallam Paulette Earl, Las Vegas and California Joy Nicholas Bede Ugbaja Obehi Ewanfoh Abdulrasheed Aremu Mamoud Balla Kamara Louisa Parson Sandra Okani Md Alamin A. April McCall , CIR Avira Avira Moses Collins Benjamin Lebi Have you been a victim of Internet banking fraud? Tell me your experience in the comment session or send me a DM. Watch out for my post tomorrow, I will mention some countermeasures. #cyberfraud #internetbanking #internetsecurity #internetsafety

An interesting yet not totally unexpected set of developments within the banking sector. From the article: “Instead of OTPs, Singaporean banks will adopt digital tokens for customer authentication, which are already in use by a significant percentage of customers across major banks. These tokens will provide a more secure alternative to OTPs.” #checkpoint

🚨 Cyberattacks on the financial sector surged by 53% in 2023, with 4,414 incidents globally. The shift towards online banking has made cybersecurity more crucial than ever. 🔐 The human factor remains a key vulnerability, emphasizing the need for greater awareness to protect our financial stability. 🚨 Dangerous malware like #Danabot, #ToinToin, and #JanelaRAT are major threats, targeting sensitive banking data. It's time to stay vigilant!

💻 CYBERSECURITY NEWS ARTICLES OF THE WEEK 🔐 Banks in Singapore to Replaces OTP with Digital Bank Tokens Three of the biggest banks in Singapore will start doing it OCBC, DBS & UOB (CNA) FUJITSU Data Exposed Fujitsu Data Breach Impacts Personal, Customer Information (SecurityWeek) AT&T Breach A massive hack that occurred between April 14 and April 25, 2024, where a hacker exfiltrated files containing “records of customer call and text interactions” between approximately May 1 and October 31, 2022, as well as on January 2, 2023. (SecurityWeek) MITRE Shares Memo with US President (MITRE) With the presidential election this year and an increase in cyberattacks and conflicts around the world, MITRE has outlined four important areas the incoming administration should focus on next year. US Bans Kaspersky The US Commerce Department has banned the sale of Kaspersky’s antivirus tools to new customers in the US, citing alleged threats to national security. (wired) Links to Articles https://lnkd.in/gdrtJ-b9 https://lnkd.in/gPfHnbns https://lnkd.in/g6wSSXaJ https://lnkd.in/gaauTgu4 https://lnkd.in/gb2Jgbf6

Heads up! A new type of ATM malware has emerged in Europe, and it's causing quite a stir. Dubbed "EU ATM Malware", this malicious software boasts an unprecedented 99% success rate, with the potential to compromise almost any ATM in Europe and approximately 60% of ATMs worldwide. This poses a significant threat to global banking security. The malware is reportedly capable of targeting ATMs manufactured by leading companies such as Diebold Nixdorf, Hyosung, Oki, Bank of America, NCR, GRG, and Hitachi, among others. Stay vigilant and keep your eyes peeled for any suspicious activity around ATMs. https://lnkd.in/eDyV4wQt

Glimpses on Glitches Glitches in digital banking can have a significant impact on both customers and financial institutions. It is crucial to be aware of common issues such as system outages, cybersecurity breaches, mobile app failures, transaction errors, authentication problems, data synchronization issues, and third-party integration failures. To address these challenges effectively, robust IT infrastructure, regular security audits, and efficient customer support are essential to mitigate the impact on users. #DigitalBanking #Cybersecurity #ITInfrastructure #CustomerSupport

𝐈𝐧 𝐭𝐡𝐞 𝐟𝐚𝐬𝐭-𝐩𝐚𝐜𝐞𝐝 𝐰𝐨𝐫𝐥𝐝 𝐨𝐟 𝐨𝐧𝐥𝐢𝐧𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠, 𝐥𝐞𝐭'𝐬 𝐭𝐚𝐥𝐤 𝐚𝐛𝐨𝐮𝐭 𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐨𝐮𝐫 𝐡𝐚𝐫𝐝-𝐞𝐚𝐫𝐧𝐞𝐝 𝐦𝐨𝐧𝐞𝐲 𝐬𝐚𝐟𝐞 𝐟𝐫𝐨𝐦 𝐜𝐲𝐛𝐞𝐫 𝐭𝐡𝐫𝐞𝐚𝐭𝐬! 💸 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝟏𝟎 𝐬𝐢𝐠𝐧𝐬 𝐭𝐡𝐚𝐭 𝐲𝐨𝐮𝐫 𝐨𝐧𝐥𝐢𝐧𝐞 𝐛𝐚𝐧𝐤 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐦𝐢𝐠𝐡𝐭 𝐛𝐞 𝐮𝐧𝐝𝐞𝐫 𝐚𝐭𝐭𝐚𝐜𝐤: 1️⃣ Unusual Account Activity: Notice something fishy in your transactions? Keep a sharp eye on unexpected withdrawals or unfamiliar purchases. 2️⃣ Strange Emails or Messages: Ever received a sketchy email asking for your personal info? 🎣 Watch out for phishing attempts—they're like digital catfish! 3️⃣ Login Anomalies: Resetting your password more than usual? 🤔 Unauthorized logins might be knocking at your virtual door. 4️⃣ Slow or Unresponsive System: Feeling the frustration of a sluggish online banking experience? Cyber attacks could be causing those annoying delays. 5️⃣ Unexplained Changes in Contact Information: Did your email or phone number magically change? 🧙♂️ Investigate any alterations pronto. 6️⃣ Unexpected Alerts: New device access but it's not you? 📱 Investigate right away if you get unexpected notifications. 7️⃣ Suspicious Pop-ups: Pop-ups asking for sensitive info? 🚫 Don't fall for it—those could be phishing traps waiting to snap shut. 8️⃣ Multiple Failed Login Attempts: Is someone persistently trying to get into your account? 🕵️♂️ Time to fortify your defenses. 9️⃣ Unrecognized Devices: Keep tabs on the gadgets connected to your account. 📡 If it's not yours, it's time to investigate! 🔟 Unexpected Account Lockouts: Locked out for no reason? 🔐 Investigate and secure your account ASAP. Let's stay savvy and secure online! 💻💪 #CyberSecurity #OnlineBanking #CyberResilience #DigitalSecurity #Finance #CyberThreats #StaySecureOnline #SecurityAwareness #ProtectYourAccounts #LinkedInSecurityTips #Bugsbd

Discover how banks and financial institutions are ramping up their defenses against cyber threats! From advanced threat intelligence to multi-layered security approaches from our latest blog post: https://lnkd.in/ecHMxz63 #banking #finance #cybersecurity #Safetech #WeAreSafetech