When it comes to cybercrime, credit unions are no less targeted than large, multi-national banking institutions. After all, if money talks, cybercrime targeting financial institutions screams. According to Security Magazine, 64% of surveyed financial institutions experienced a cyberattack in 2024. And according to an American Banking Journal article, the average cost of a financial sector data...

Keeping up with the latest compliance or regulatory directives is vital to ensure your organization won’t run afoul of measures designed to keep your organization, your customers, and your trading partners safer from cybersecurity threats. This article outlines where two key directives: NIS2 and DORA stand today and why it’s important to be in compliance. As with any compliance measure introduced,...

Global financial institutions rely on SWIFT every day to exchange information vital to secure payments. However, as members of The Society for Worldwide Interbank Financial Telecommunications (SWIFT) network know, the network alone isn’t enough to ensure safety. This is why SWIFT rolled out their Customer Security Program (CSP).Within the CSP, SWIFT has established a Customer Security Controls...

Encrypted Folders in MFT Can Help Meet Financial Industry Compliance RequirementsOrganizations in the financial sector that need to meet compliance requirements for PCI DSS, GLBA, or SOX can benefit from folder encryption functionality in their Managed File Transfer (MFT) solution. Utilizing folder encryption can help meet the mandate to encrypt sensitive data both in transit and at rest (or not ...

The PeSIT file transfer protocol, used primarily by financial organizations in Europe, enables files to be written and read from one machine to another on a point-to-point or point-to-multipoint basis. And, while it can certainly be used beyond banking, it remains one of the lesser known, but still secure and reliable file transfer protocols for the financial industry.

Insurance industry insiders know an insurance policy is one of the few products purchased that most people hope to never have to put to use. Afterall, “using” your insurance means that an adverse event has occurred – an auto accident, medical crisis, storm damage, or any number of situations where not having a policy in place could have huge financial...

Financial file matters matter. Not only are these files a top priority to the banks and financial institutions that handle millions of transactions daily, they also matter to the industry’s compliance regulators, and to the public trusting that their financial information is secured. How organizational and personal financial data is handled and...

Managed file transfer (MFT) empowers organizations to reliably and securely exchange electronic data between systems and comply with various regulatory requirements. With MFT solutions, you can confidently facilitate internal and external enterprise data transfers, including sensitive, compliance-protected, or high-volume data. The financial...

Staying abreast of compliance requirements, even if they are not directly specified for your country, is still important, as your organization could be impacted, should you have offices in the affected country or provide services to an organization in countries where the regulations apply. What is the DORA Regulation? DORA, or Digital Operational...

Secure file sharing for banks has always been of utmost importance and is only gaining traction in the face of common cybersecurity threats and compliance requirements alike. Requirements like PCI DSS, GDPR, GLBA, and more can make processes more complicated, even as the safeguards outlined within them promote data security to protect both...

The unwavering protection of personally identifiable information (PII) is the foundation upon which financial and banking organizations build their services and instill trust in customers. Achieving this requires credit unions and related companies to navigate a fine balance between stringent data security and business efficiency to meet customer...

From Robin Hood to Bonnie and Clyde to Equifax, banks and the finance industry have been in jeopardy since the beginning of recorded history. For one, banks and financial services are enticing targets. The promise of a big payout, whether by breaching the vault or ransoming sensitive personal data, is what keeps would-be bank robbers and cyber...

GoAnywhere MFT is the Ultimate Asset for Banking and FinanceFor banking and financial organizations, protecting sensitive customer data and meeting compliance requirements for regulations is critical.From controlling the exchange of sensitive cardholder data, to tracking file movements for easy auditing, GoAnywhere Managed File Transfer (MFT) is an...

Trying to integrate and tie diverse internal and external banking applications, branches, systems and trading partners together so they work seamlessly with internal and central banking applications can have your IT department constantly untangling complex knots to ensure transactions and information flows easily.There is a way to untangle this...

On a scale of 1-10, how would you rate the efficiency of your file transfers right now?If you use manual scripts, legacy software, or a myriad of free tools to balance your encryption, automation, cybersecurity, reporting, and collaboration needs, it’s possible you’ll rate your efficiency low on the scale. After all, professionals in banking and...

Banks and financial institutions, take note: though the year is almost over, no one is safe from a data breach. Industries across the board have seen 4.5 million records stolen so far in 2018—a staggering 133% increase over those compromised in 2017.As you create updated cybersecurity plans and data breach prevention strategies for the new year, it’s...

While several industries, including business and education, make up a big portion of yearly data breach counts, banks and credit unions aren’t left risk free. According to the Identity Theft Resource Center (ITRC), the banking/credit/financial sector totals 5.8% of 2017’s data breaches as of June 30, 2017. That’s up two percent from 2016’s first...

Insurance companies are the experts at analyzing and managing risk. They identify, quantify, and set pricing based on the calculated costs of risk. Naturally, the higher the perceived risk, the higher the cost to mitigate the potential losses.Yet, here is the irony. While those in the insurance industry excel at evaluating risk management for their...