Tech Talk: ATM security, SaaS, stablecoins, and more!

• Fed’s Zelle-like instant payment system
• Technologies for credit card fraud prevention
• Best practices for ATM security
• Personalized banking helps customer satisfaction
• Efficient with cloud and SaaS banking software
• Using AI verification systems to beat scammers
• Real time payments speed and security
• The banking business models of the future
• NYDFS: How to oversee stablecoins?
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Fed’s Zelle-like instant payment system
The US Federal Reserve (Fed) is preparing to launch a new financial network that would eliminate any wait time for sending and receiving payments. The system is now being tested by more than 100 market participants. In simple terms, FedNow is Zelle for banks and businesses — a digital payments network based on federally insured accounts that can be debited for payments. Computerworld has the details.

Technologies for credit card fraud prevention
Banks, neobanks, and other financial institutions can leverage emerging technologies like machine learning and artificial intelligence to detect and prevent fraud. Finextra has the details.

Best practices for ATM security
With crime rising nationwide, ATM operators need to be vigilant to protect their assets. At the same time, new Payment Card Industry standards require operators to update their payment equipment to prevent fraudulent transactions. ATM Marketplace has the details.

Personalized banking helps customer satisfaction
Banks delivering personalized banking services must also prioritize security, with customers citing fraud protection as a critical factor in digital banking satisfaction. PYMNTS.com has the details.

Efficient with cloud and SaaS banking software
Payments are not the only banking service moving to near real-time. Buy Now Pay Later (BNPL) offerings are making retail loans real-time. Increasingly, the banks' customers are expecting a near real-time on-demand service 24 hours a day. Enter SaaS banking software. Finextra has the details.

Using AI verification systems to beat scammers
Based on an analysis of millions of ID verifications carried out for its customers in 2022, Ondato found that ID cards were used in 52% of fraudulent verification attempts – far ahead of driving licences (29%) and passports (18%). Can AI help? Help Net Security has the details.

Real time payments speed and security
As real-time payments schemes take root around the world, financial institutions must grapple with new operational and technical challenges. A cloud-based platform approach lets banks outsource those functions. PYMNTS.com has the details.

The banking business models of the future
Speaking at Innovate Finance Global Summit 2023, Sam Everington, CEO, Engine by Starling, discusses how digital banks keep challenging and pivoting as they become more established in the financial sector. Finextra has the details.

NYDFS: How to oversee stablecoins?
According to New York's financial regulator, the best system for regulating stablecoins already exists. New York Department of Financial Services Superintendent (NYDFS) Adrianne A. Harris said federal stablecoin legislation should build on the existing “dual banking” system. PYMNTS.com has the details.

Spams, Scams, and Breaches

• CNET: Phishing FAQ: How to Spot Scams and Stop Them in Their Tracks
• PYMNTS.com: CFPB Suffers Data Breach Involving Consumers, FIs
• Tech Republic: Ransomware attacks increased 91% in March, as threat actors find new vulnerabilities
• SecurityWeek: Ransomware Attack Hits Health Insurer Point32Health
• Banking Dive: CFPB: Staffer breached data on 256,000 consumer accounts
• TechCrunch: NationsBenefits confirms thousands had personal data stolen in Fortra breach
• Help Net Security: Wargaming an effective data breach playbook
• Finextra: NCR POS business Aloha hit by ransomware attack
• SecurityWeek: Creative Software Maker Affinity Informs Customers of Forum Breach
• Dark Reading: Aloha PoS Restaurant Software Downed by Ransomware Attack
• CISA: IRS Warns of New Tax Scams
• TechCrunch: Hackers publish sensitive employee data stolen during CommScope ransomware attack
• ATM Marketplace: NCR investigates ransomware attack
• TechCrunch: Hackers claim vast access to Western Digital systems
• Dark Reading: Money Ransomware Group Enters Double-Extortion Fray
• Help Net Security: Zelle users targeted with social engineering tricks
• Dark Reading: Western Digital Hackers Demand 8-Figure Ransom Payment for Data

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: Oracle Releases 433 New Security Patches With April 2023 CPU
• PCWorld: Chrome gets its second emergency patch in a week
• Dark Reading: Russian Fancy Bear APT Exploited Unpatched Cisco Routers to Hack US, EU Gov't Agencies
• SecurityWeek: Cisco Patches Critical Vulnerabilities in Industrial Network Director, Modeling Labs
• CISA: CISA Releases Malware Analysis Report on ICONICSTEALER
• SecurityWeek: CISA Adds Chrome, macOS Bugs to Known Exploited Vulnerabilities Catalog
• Dark Reading: Recycled Core Routers Expose Sensitive Corporate Network Info
• SecurityWeek: Google, CISA Warn of Android Flaw After Reports of Chinese App Zero-Day Exploitation
• CISA: CISA Releases Sixteen Industrial Control Systems Advisories
• PCWorld: Update Chrome now to protect yourself from this zero-day exploit
• CISA: CISA Adds Two Known Exploited Vulnerabilities to Catalog
• SecurityWeek: Juniper Networks Patches Critical Third-Party Component Vulnerabilities
• Computerworld: Patch now to address a Windows zero-day
• SecurityWeek: Google Warns of New Chrome Zero-Day Attack
• Help Net Security: Week in review: Microsoft patches zero-day, Apple security updates, HashiCorp Vault vulnerability

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...

In this clip from The IT Crowd, you get a glimpse behind the scenes during a typical IT support call.