Read up on all the latest trends in banking regulations on the Octopusblog including rundowns on the Equifax breach, vulnerabilities of the SS7 system, and how changes in banking laws effect your online account security.

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Tackling the PCI’s New Authentication Regulations

The latest standards governing the world of digital payments have come into effect. On 1 February 2018, the new Data Security Standards of the Payment Card Industry’s (PCI) Council, or PCI DSS, came into effect. These new standards upgraded many protocols that used to be merely “best practices”, to full requirements. The updated PCI DSS is a significant shift from earlier [...]

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Digital Authentication in the Age of NY’s DFS Cyber Regulations

Amongst the wide range of data legislation being cranked out by governments over the past several years, the New York State Department of Financial Security’s (NYS DFS) cyber regulations are some of the most important and influential. As New York City is very much the “financial capital” of the globe, regulations codified by State authorities affect a large swath of the [...]

A Modern Authentication Model for The Financial Industry

The modern financial sector has been fully integrated into the digital sphere. Today’s online financial domain made up of banks and other intermediaries circulates billions of dollars around the world daily. Understandably, such a domain makes for a highly lucrative target for cybercriminals. Unfortunately, companies have been losing this fight. Hackers are becoming more sophisticated, deploying blended threats against banking and [...]

The Equifax Breach: How it Went Down

Weeks after the cover was blown about the Equifax breach, the incident has become established as one of the biggest and most detrimental attacks on online consumers ever. The actual volume of data exposed aside, what makes the Equifax hack so bad is not only the highly sensitive nature of the information, but that recovery and mitigation of the damage is [...]

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A Close Look at SWIFT’s Wire Transfer Authentication Practices

Published on International Banker by June 20, 2017, by Raz Rafaeli  In February 2016, hackers heisted $81 million from the Bangladesh Bank, cleverly stealing the money via the transfer system of the Society for Worldwide Interbank Financial Telecommunication, commonly referred to as SWIFT. Via a series of subterfuges and with the right timing (scheduling the thefts for a weekend, when staff [...]