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What a 1930s Bank Robber Can Teach Financial Institutions About Ransomware

Pure Storage

Legend has it that when Willie Sutton, a notorious bank robber from the last century, was asked why he robbed banks, he responded, “That’s where the money is.” Willie Sutton didn’t rob banks at random. Willie Sutton was remarkably successful because he always zeroed in on banks with the most readily available cash and valuables.

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

LogisManager

Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. ” You can outsource the activity to the vendor but not the risk.

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The Multiple Factors Leading to the Collapse of Silicon Valley Bank

Erwood Group

While the Bank itself bears the bulk of the responsibility for its own demise, in this article we are going to look at the multiple factors leading to the collapse of Silicon Valley Bank. Formed in 1983, Silicon Valley Bank (SVB) was founded to provide financial services to startups, venture capitalists, and technology companies.

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The CISOs Guide to Storage & Backup Cyber Resiliency

Solutions Review

Despite implementing vulnerability management, extended detection and response (XDR), threat monitoring, security information and event management (SIEM), and other technologies, they always seem to be one step behind the cybercriminal fraternity. This can lull storage admins, infrastructure managers, and CISOs into a false sense of security.

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Money at Risk: Finance & Data Security in the Digital Age

NexusTek

Recent research focusing on threat activity in 2022 revealed that distributed-denial-of-service (DDoS) attacks have become the biggest threat to financial services businesses. Getting a sense that their bank, lender, or investment firm has weak security can drive customers to close their accounts and switch to a competitor.

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20 Secrets Hackers Don’t Want You To Know

LAN Infotech

That’s why you need to be watchful of any suspicious activity. They usually send unsuspecting emails asking for sensitive details such as your banking information. When using a public network, you are highly vulnerable to cyberattacks. Hackers Monitor your Activities on Social Media. They Send Unsuspecting Emails.

Banking 105
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What Does Good Look Like in the Era of Operational Resilience?

Fusion Risk Management

A notable incident in 2018 involved a significant IT failure at UK bank TSB, prompting detailed reviews by UK regulators. The Prudential Regulation Authority (PRA), Bank of England (BoE), and Financial Conduct Authority (FCA) jointly issued stringent regulations to mitigate systemic risks and contain potential crises.