Tech Talk: Elevated risks, ATM defense tech, threat hunting, and more!

• Elevated cyber and ML risks
• Biometric ATM cash-out solution
• Deception tech to defend ATMs
• Hunting down evasive intruders
• Endpoint fraud detection solution
• Fintech and bank matching service
• From crypto to cash in a flash
• Secure digital ID solutions
• A quantum leap forward
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Elevated cyber and ML risks
The Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective for Spring 2018 this week, highlighting risks facing national banks and federal savings associations based on data as of March 31, 2018. Notable highlights include elevated operational risk as banks adapt business models, transform technology and operating processes, and respond to evolving cyber threats that seek to exploit personnel, processes, and technology, and the challenge of managing money laundering risks in a complex environment. OCC has the details and a link to the full report.

Biometric ATM cash-out solution.
Kids coveting the newest toy on the market go to the one person who can provide them with the cash to buy it – mom. Consumers in India who need to get cash for their purchases can now do so quickly and securely with the help of a biometric-based MOM ATM cash out solution developed by MoneyOnMobile that leverages Open Banking APIs and the Indian government's Aadhaar national identity system. Finextra has the details.

Deception tech to defend ATMs
"Successful war follows the path of deception," Sun Tsu wrote in The Art of War. Cybercriminals have long relied on the Chinese general and author's philosophy of deception. Today, distributed deception technology – platforms that mimic a network's resources and assets to trap hackers and alert network administrators to their presence – is increasingly being deployed in the war on cybersecurity. Cybersecurity firm Illusive Networks has published a free whitepaper that takes an in-depth look at network-based attacks on ATMs and how distributed deception technology can be part of an effective ATM defense strategy. GovInfoSecurity has the details.

Hunting evasive intruders
Today's sophisticated criminals are becoming more adept at evading even the most stringent security measures. In many cases, financial firms and other organizations may be unaware that an intrusion has occurred for days, weeks, or even months. To find intruders who may be hiding in plain sight, a proactive threat hunting approach is needed. Security firm Carbon Black has released a report titled "Modern Bank Heists: Cyberattacks & Lateral Movement in the Financial Sector," comprising input from a survey of chief information security officers (CISOs) at 40 major financial institutions, and highlighting the importance of threat hunting in the finance sector. Security Week has the details.

Endpoint fraud detection solution
The rapidly evolving threat landscape and regulatory changes have put organizations in all sectors on the defense. Preventive measures alone are no longer sufficient to protect your networks from the sophisticated tactics and techniques being deployed by today's cyber gangs. Cybersecurity firm F-Secure has launched an endpoint detection and response (EDR) solution that provides advanced threat detection to detect and stop targeted attacks quickly and efficiently. Security Week has the details.

Fintech and bank matching service
Singles who are hoping to meet "the one" can skip the bar scene – there's an app for that now. The popular dating app Tinder anonymously finds people nearby that like each other and connects them if they are both interested. Global consulting firm Capgemini and the European Financial Management Association (EFMA) have created a platform to connect fintechs and banks. The FinTechVisor includes a "matchmaker-like" function to help banks find a fintech partner that complements their needs and interests, reports ATM Marketplace.

From crypto to cash in a flash
Despite the controversy surrounding cryptocurrency and speculation that the Bitcoin bubble would eventually burst, the use of cryptocurrency is on the rise. Converting the digital currency to cash is one of the biggest challenges for crypto users. Mobile payments provider MovoCash has launched a web-based service for Bitcoin users to easily convert crypto into ready-to-spend cash in an FDIC-insured prepaid account that is available for use within in minutes. ATM Marketplace has the details.

Secure digital ID solutions
From the advent of online and mobile technology to the Internet of Things, we live in a digitally connected world. Identity verification has become more important – and more challenging – than ever before, especially in financial services. Mobile security provider G+D Mobile Security and European video identification provider IDnow are teaming up on the development of a global remote identification solution and other AI-driven biometric and security technologies, reports ATM Marketplace.

A quantum leap forward
In the past century, innovative trends and technologies has transformed the banking industry. Artificial intelligence (AI) and machine learning (ML) has created both challenges and opportunities for banks. Meanwhile, increased competition has risen from major technology titans, collectively referred to as GAFAMAT (Google, Amazon, Facebook, Apple, Microsoft, Alibaba and Tencent). Quantum computers are expected to bring even more opportunities and potential challenges to the future of banking. Payments Journal has the details.

Spams, Scams and Breaches

• Threatpost: More Spectre-related flaws are expected
• Security Week: Wicked variant of Mirai botnet emerges
• Security Week: Drupal Miners, Rats, and Scams – Oh, My!
• SC Magazine: Behind the 'from' lines, email fraud on a global scale
• Help Net Security: VPNFilter malware compromises 500,000 routers worldwide

Updates, Patches and Alerts...

• US-CERT: Current Activity
• Sophos: Chrome drops secure label for HTTPS websites
• Security Week: Chrome issues red 'not secure' warning for HTTP

ATM Marketplace: It's time to update your ATMs OS operating system

• Sophos: Office 365 will automatically block Flash and Silverlight
• Security Week: VMware patches Fusion, Workstation vulnerabilities

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

Technology has changed the way we live, work, and play – and throw a party. Replace your kettle grills and charcoal briquettes with the latest high-tech BBQ gadgets for the perfect Memorial Day cookout this weekend – as long as it doesn't rain. One thing we can't control with technology is the weather.


   


And while you're enjoying the great food and good company of friends and family, remember those who served and paid the ultimate sacrifice to ensure the freedom you have today.