Articles Tagged with ''Cyber security''

CFPB resumes collection of private consumer data

Completes review of cybersecurity defenses
The CFPB announced it will once again begin collecting private consumer data after completing a review of its cybersecurity defenses. Acting Director Mick Mulvaney announced in an internal memo that, after an exhaustive review by outside experts, including a comprehensive “white-hat hacking” effort, the bureau can lift freeze it instituted back in December to stop collecting consumer data.
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Cybersecurity experts: Data breaches are a matter of when, not if

So you better be prepared
To hear several cybersecurity experts tell it, data breaches are all but inevitable at every company, no matter how small they may be. The only choice for companies, at this point, is to be prepared for what’s coming. That was the message during the “Business Response to Cyber Risk” panel held Monday at the Mortgage Bankers Association’s Commercial/Multifamily Servicing and Technology Conference, which is going on right now in Miami.
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Equifax reveals how much information was really exposed in data breach

How bad was Equifax’s data breach? Bad.
For the first time, Equifax is revealing just how much personal data was exposed in the massive data breach that affected more than 148 million Americans. In a new filing with the SEC, the credit reporting agency broke down in detail the types of – and how much exactly – sensitive personal information was exposed to hackers in the breach. It's as bad as you think.
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MBA Tech: Here are the biggest cybersecurity threats to mortgage companies right now

Ransomware and wire fraud are low-hanging fruit for criminals
Cybersecurity experts on several panels at the MBA Tech conference in Detroit on Monday outlined the greatest risks the mortgage industry is facing right now and what companies can do to prepare. Among the worst things that could happen? A ransomware attack. This extortion scheme has morphed in recent years, with individuals or companies offering ransomware-as-a-service, which puts another layer of criminality between you and your data.
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Richey May launches cybersecurity services

Information security expert John-Thomas Gaietto will serve as executive director
Accounting and advisory firm Richey May announced Thursday it launched a cybersecurity services practice, Richey May Technology Solutions, to help lenders and servicers protect themselves against online fraud and data attacks. The company also announced John-Thomas Gaietto, an information security expert, will serve as the service's executive director.
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Equifax reveals 2.4 million more people were victims of data breach

Additional names and partial driver’s license information stolen by hackers
Equifax revealed Thursday that an additional 2.4 million people are victims of the company’s 2017 data breach. Initially, the company said the personal information of approximately 143 million people was stolen. Now, it turns out that the number of victims is actually closer to 148 million.
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Equifax upgrades its digital security system

Announces partnership with Entersekt
Equifax announced Thursday it is creating some changes to its digital security system through its new integration with Entersekt, a push-based authentication and mobile app security company. Here’s everything you need to know about the new partnership.
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Real estate and fintech solution CertifID raises $1.7M in seed round financing

Initial round led by Wakestream Ventures
Authentication software provider CertifID announced it has raised $1.7 million in its seed round of financing, led by Wakestream Ventures. The company was founded in 2017 by the owners and founders of Sun Title, and entrepreneur Tyler Adams, after Sun Title fell victim to a social engineering fraud scheme that cost the company almost $200,000.
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Financial services groups ask Congress to pursue new data breach rules

Bankers, title companies lay out vision for data security legislation
Credit reporting agencies are far from the only companies that house consumers’ data. Banks, credit unions, insurance companies, title insurers and other companies are also tasked with safeguarding the information they possess. And now, the trade groups that represent many of those companies are also asking for the government to enact new data security rules.
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Top Democrats want credit reporting agencies severely punished for Equifax-style breaches

Bill would bring stiff financial penalties for data breaches
Equifax may be facing various legal, regulatory, and financial consequences for the data breach that exposed the personal information of 145.5 million U.S. consumers, but two top Senate Democrats want there to be much stiffer penalties should any credit reporting agency, Equifax included, fail to protect consumer data again.
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