Tech Talk: Data rules strategy, evolving ATMs, deep fake scams, and more!

• Game plan for new CFPB data rules
• FDIC tech lab is trailing on innovation
• What's the end goal for ATMs in 2024?
• Commercial banking fraud escalates
• Firm lost $25M to CFO deep fake scam
• Teaming up to fight financial crime
• Turbocharged fraud detection tech
• Celebrity duped by bank impersonation scam
• Collaborating to drive innovation
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Game plan for new CFPB data rules
Excitement is building as football fans across the nation prepare for Super Bowl Sunday in the hopes their favorite team takes home the Vince Lombardi Trophy. As the Consumer Financial Protection Bureau (CFPB) gears up to implement their proposed Personal Financial Data Rights rule, banks should be formulating a game plan for enhanced data security and customer retention. PYMNTS.com has the details.

FDIC tech lab is trailing on innovation
A group of Republican House leaders have expressed concerns about what they perceive as the FDIC's lack of engagement with the public on fintech and innovation. In a letter sent to the regulator this week regarding its FDITech tech lab's oversight and strategy, lawmakers requested details from the FDIC on its examination and supervisory actions toward financial institutions and fintechs by the end of this month. Banking Dive has the details.

What's the end goal for ATMs in 2024?
The ATM industry is constantly evolving to remain relevant and meet the changing needs of consumers. There are several key trends the industry may see this year that could shape the future of ATMs. By getting ahead of these trends, banks and ATM providers can position themselves to score new avenues for revenue and enhance customer service. ATM Marketplace has the details.

Commercial banking fraud escalates
As the old saying goes, criminals go where the money is! The industry is seeing an upward trend in fraud targeting commercial banking players or systems involving larger sums and more complex transactions. New and evolving technologies, such as deep fakes, are providing criminals with sophisticated tools to target and attack big ticket B2B transactions. PYMNTS.com has the details.

Firm lost $25M to CFO deep fake scam
The phrase "going deep" refers to a strategy where a football receiver runs downfield at full speed, trying to get behind the defense and exploit gaps in coverage. Today, bad actors are utilizing deep fakes to deceive individuals or organizations by creating convincingly realistic fake videos or audio recordings. A deepfake phishing scam cost a multinational company more than $25 million after an employee was fooled by digital imitations of the firm's CFO and colleagues on a conference call. CNN has the details.

Teaming up to fight financial crime
During a football game, defenders and midfielders are well coordinated to intercept attacks and prevent the opposing team from penetrating their side. Fintech software provider PortX and compliance platform Hummingbird have teamed up to streamline compliance and regulatory technology and equip financial institutions with an effective defense against financial crime. PYMNTS.com has the details.

Turbocharged fraud detection tech
To help banks protect consumers from sneaky plays fraudsters deploy and mitigate false positives, Mastercard is turbocharging its fraud detection platform with generative AI that can scan a trillion data points to identify authentic or fraudulent transactions. The payment giant's new Decision Intelligence Pro's AI algorithms can assess the risks associated with transactions or activities in less than 50 milliseconds. Finextra has the details.

Celebrity duped by bank impersonation scam
According to the FTC, texts impersonating banks have increased 500% since 2019 and are the most commonly reported bank impersonation scams. In 2023 alone, Americans lost close to $2 billion to impersonation scams. Celebrity reality TV show and late night talk show host Andy Cohen was duped by fraudsters who impersonated his bank and scammed him out of a "sizeable amount" of money. KnowBe4 has the details.

Collaborating to drive innovation
Just as any team's success relies on leveraging the unique skills and perspectives of each player, banks can tap into the expertise and agility of fintechs to drive innovation. Teaming up with these digitally-native businesses to enhance their own capabilities, traditional banks can tackle complex challenges, adapt to changing market conditions, and score groundbreaking solutions that benefit them and their customers. Fintech Times has the details.

Spams, Scams, and Breaches

• Surfshark: Global data breach statistics: 2023 recap
• Dark Reading: Fresh 'Mispadu Stealer' variant emerges
• Finextra: Ripple co-founder's personal XRP accounts hacked
• Finextra: Revolut says Meta platforms are a hotbed for scams
• KnowBe4: Attackers are now using Microsoft Teams to phish your users
• Infosecurity Magazine: U.S. cracks down on spyware with Visa restrictions
• Tech Times: ResumeLooters targets 65 websites to steal sensitive user data
• SC Magazine: Internal Verizon breach exposed personal data of 63K employees
• Hep Net Security: AnyDesk has been hacked, users urged to change passwords
• Dark Reading: Teens committing scary cybercrimes: What's behind the trend?
• Infosecurity Magazine: Malware-as-a-Service now the top threat to organizations
• SecurityWeek: Millions of user records stolen from 65 websites via SQL Injection attacks
• TechCrunch: Government hackers targeted iPhone owners with zero-days, Google says
• Cybersecurity Dive: CISA, FBI confirm critical infrastructure intrusions by China-linked hackers

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: Canon patches 7 critical vulnerabilities in small office printers
• SecurityWeek: Google links over 60 Zero-days to commercial spyware vendors
• Dark Reading: Security holes in a big data tool could lead to big data compromise
• Help Net Security: Ivanti Connect Secure flaw massively exploited by attackers
• Bleeping Computer: Critical flaw in Shim bootloader impacts most Linux systems
• Cybersecurity Dive: Ivanti VPNs face renewed threat activity after initial patch release and new CVEs
• Tech Crunch: Mozilla Monitor’s new service removes your personal info from data broker sites automatically
• SecurityWeek: Critical remote code execution vulnerability among 46 Android vulnerabilities patched in Android

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...

It's hard to imagine a world without technology, Apple products, or the Super Bowl. Forty years ago, the iconic 1984 Apple Computer Macintosh commercial, based on George Orwell's novel, was nationally aired only once during the 3rd quarter of the 1984 Super Bowl game. This groundbreaking commercial spot kicked off a new era.