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Guest Post: Digital Technology Is Transforming Banks

Security Industry Association

Within the financial and banking sectors, digital transformation has become synonymous with the increasing shift toward mobile and online banking, as well as the widespread adoption of cloud-based services to enhance customer engagement and streamline internal operations.

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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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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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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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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.

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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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How to prevent identity theft: Tips for a safer online presence

Online Computers

To help prevent identity theft, follow these strategies: Create strong and unique passwords Passwords are typically used to protect email, banking, and social media accounts. Be cautious about sharing sensitive information online, such as your bank account and Social Security number.

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