Canadian financial services cooperative Desjardins Group has reached an out-of-court settlement with multiple plaintiffs to resolve a data breach class action lawsuit. The breach, which was publicly disclosed in June 2019, involved a “malicious” insider stealing and selling personal details for 4.2 million active customers of the credit union group. The settlement, submitted to the […]
Financial services companies have been a popular target for cybercriminals for a long time. Not without good reason, since beyond working with money, financial companies handle a slew of sensitive client data that criminals utilize in various fraud schemes or sell off on dark web bazaars. According to Verizon’s 2020 Data Breach Investigations Report, in […]
Last week, the Securities Industry and Financial Markets Association (SIFMA) ran Quantum Dawn IV to test the resiliency and response of the financial services industry to a major cyber incident. Today, a new CAST report on application security health (CRASH) highlights that finance has some of the worst code — in security terms — of […]
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