Tech Talk: CDBCs, financial cybercrime, data-ready banks, and more!

• The staggering cost of identity fraud
• Cryptocurrency & worldwide commerce
• OCC creates new fintech office
• Open Banking and the customer experience
• Alkami's digital banking platform
• Are CBDCs the future of money?
• Data-ready banks may have an edge
• Consumer trust: Banks leading the way
• A hub for financial cybercrime
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

The staggering cost of identity fraud
The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. For either group, the costs are huge. Help Net Security has the details.

Cryptocurrency & worldwide commerce
Cryptocurrency’s resilience to market volatility remains strong and crypto’s facilitation in e-commerce is on the rise - with an estimated 100,000 businesses worldwide now accepting crypto payments. Finextra has the details.

OCC creates new fintech office
The regulator announced it was planning to set up an Office of Financial Technology last year. It says the new fintech-focused unit will help “bolster its expertise and ability to adapt to a rapidly changing banking landscape” and provide “strategic leadership, vision and perspective” for its financial technology activities and related supervision. Fintech Futures has the details.

Open Banking and the customer experience
Speaking at Merchant Payments Ecosystem 2023, Octavian Puzderca, Senior Principal, Advisors Client Services, Mastercard, and Katharina Luschnik, Vice President, Product Sales, Aiia, a Mastercard company, discuss the impact of Open Banking payments and Embedded Finance on the digital customer experience. Finextra has the details.

Alkami's digital banking platform
Stephen Bohanon, Alkami’s co-founder and chief strategy and product officer says, "A complete digital sales and service platform enables the experience that FIs need to provide today: one that rivals burgeoning fintech companies and even those of non-banking platforms like Amazon." Fintech Futures has the details.

Are CBDCs the future of money and the end of banking?
With the rise of digital transactions, more and more countries are exploring the possibility of introducing their own Central Bank Digital Currency (CBDC). So, what does this mean for banks? Finextra has the details.

Data-ready banks may have an edge
Data readiness is nearly imperative these days for banks, credit unions and other FIs hoping to utilize the most innovative technologies to gain greater insights. Of course, the ability to gain these benefits depends almost entirely on an FI’s preparedness. PYMNTS.com has the details.

Consumer trust: Banks leading the way
Banks are clearly leading the way when it comes to trust, with 60% of those surveyed in our recent Digital Trust research saying that they trust banks to protect and secure their data - whereas only 16% of consumers trust social media companies to do the same. Finextra has the details.

A hub for financial cybercrime
Styx Marketplace, which opened in January, is a new platform on the Dark Web that focuses on financial fraud, designed to provide cybercriminals with the necessary resources — such as credit card information, forged documents, victim reconnaissance, and SIM cards, among others — to carry out their malicious acts. Dark Reading has the details.

Spams, Scams, and Breaches

• TechCrunch: Legal powerhouse Proskauer exposed clients’ confidential M&A data
• Help Net Security: IT and security pros pressured to keep quiet about data breaches
• Information Week: Clop Ransomware Attacks: How Should CIOs Respond?
• ATM Marketplace: Man goes undercover to prove Chase bank ATM glue and tap scam
• SecurityWeek: Western Digital Shuts Down Services Due to Cybersecurity Breach
• PCWorld: Western Digital's My Cloud goes down after hack
• SecurityWeek: Self-Propagating, Fast-Encrypting 'Rorschach' Ransomware Emerges
• TechCrunch: Italy orders ChatGPT blocked citing data protection concerns
• SecurityWeek: Mandiant Investigating 3CX Hack as Evidence Shows Attackers Had Access for Months
• SecurityWeek: 4.8 Million Impacted by Data Breach at TMX Finance
• Krebs on Security: A Serial Tech Investment Scammer Takes Up Coding?
• SecurityWeek: Europe, North America Most Impacted by 3CX Supply Chain Hack
• Computerworld: Ransomware as a service? Windows users can still fight back.
• Dark Reading: Data Breach Strikes Western Digital

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• CISA: Samba Releases Security Updates for Multiple Versions of Samba
• CISA: Mozilla Releases Security Update for Thunderbird 102.9.1
• CISA: CISA Adds One Known Exploited Vulnerability to Catalog
• CISA: CISA Releases Seven Industrial Control Systems Advisories
• SecurityWeek: Tax Return Filing Service eFile.com Caught Serving Malware
• TechCrunch: Throne fixes security bug that exposed creators’ private home addresses
• SecurityWeek: Android's April 2023 Updates Patch Critical Remote Code Execution Vulnerabilities
• Dark Reading: QNAP Zero-Days Leave 80K Devices Vulnerable to Cyberattack
• SecurityWeek: Chrome 112 Patches 16 Security Flaws
• Dark Reading: Garage Door Openers Open to Hijacking, Thanks to Unpatched Security Vulns
• SecurityWeek: Cisco Patches Code and Command Execution Vulnerabilities in Several Products
• Help Net Security: Millions still exposed despite available fixes

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...

My dog will lift his paw to shake hands. Watch this robot play soccer!