Category Archives: finance

What decentralized IT spending means for the CIO role

67% of IT leaders say at least half of their spend is now controlled by individual business units, in a report from IDG Connect and Snow Software. While most believe this is beneficial for their organization, it presents new challenges when combined with increased cloud usage – 56% of IT leaders are concerned with hidden cloud costs and nearly 90% worry about the prospect of vendor audits within cloud environments. The survey, conducted to understand … More

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Key security priorities for financial services: Preventing fraud and data leaks

The banking and financial services sector is struggling with a skills shortage along with the sheer volume of threats and alerts as it continues its ongoing battle against cybercrime, according to Blueliv. With financial organizations a prime target for attacks, preventing fraud and data leakages is key to the sector’s security strategies – but it is getting harder as cyberthreats become increasingly diverse, sophisticated and malicious. Rise in banking Trojans Roughly a third of respondents … More

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Enterprise WLAN market revenue declines year over year

The combined enterprise and consumer wireless local area network (WLAN) market segments fell 3.6% year over year in the third quarter of 2019 (3Q19) with worldwide revenues of $3.8 billion. According to IDC, he enterprise segment fell 1.1% year over year in 3Q19 to $1.62 billion. The market is in a state of transition as a new wireless standard comes to market, but the continued demand for wireless access technologies, combined with new advanced software … More

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Top compliance and risk management challenges for financial organizations

Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions, according to the results of a Wolters Kluwer survey. Rising risk challenges for financial organizations This year’s survey generated a Main Indicator Score of 95, a 10-point increase from the 2018 score, that was influenced by concerns about the impact of Home Mortgage Disclosure Act (HMDA) rules; cybersecurity, credit and compliance risks; and an increased … More

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European cybersecurity market to exceed $65 billion by 2025

The European cybersecurity market is determined to exceed $65 billion by 2025, according to Graphical Research. This growth is attributed to strong government initiatives to promote data safety and hefty investments in cybersecurity solutions. Industry sectors and cybersecurity The increasing cases of data breaches and cyber attacks on critical business infrastructure have driven several business enterprises toward partnering with government agencies for enhanced cybersecurity. For instance, in July 2016, the EU Commission announced a Public-Private … More

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2019 experienced massive spate of crypto crimes, $4.4 billion to date

With only seven months left for nations to pass laws and virtual asset service providers (VASPs) to comply with the guidelines, the majority of cryptocurrency exchanges are not equipped to handle basic KYC, let alone comply with the stringent new funds Travel Rule included in the updated Financial Action Task Force (FATF) guidance, according to CipherTrace. Inadequate KYC The research results revealed that the lion’s share — more than two-thirds — of exchanges do not … More

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How can financial institutions prevent shopping season fraud?

Black Friday and Cyber Monday are two of the years’ busiest shopping days. For consumers and retailers alike, it marks the beginning of the winter holiday shopping season, as well as a time when organizations have to do their best to prevent shopping season fraud. It’s also a busy time for hackers, who look to capitalize on seasonal spikes in transaction volume to try and evade fraud detection processes and con innocent customers out of … More

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