Fraud cases increased by 343 between 2020 and 2021

Other risks changing client practices raising visibility risk and cybersecurity risks among banks and third-party providers

There was a major increase in the sophistication and quantity of attacks targeting individuals, organizations, and critical infrastructure in the first six months of 2021

Money laundering and other types of financial crime have plagued the financial industry for years

Fed flags cybersecurity and operational resilience as priorities for large banks

OCC, Board, FDIC will require banks to report incidents within 36 hours

Financial institutions and the businesses they serve need to add an additional layer of technology and step up their strategy

Trade body newsletter says remote working and digital channels in financial services have led to heightened security concerns

Groups claim the legislation would hinder, rather enhance, current efforts toward cybersecurity

Research from Fitch finds even well-prepared banks could suffer from ‘tail events’ from major cyberattacks