The Bank Policy Institute is recommending that financial institutions and their regulators reduce direct electronic transfers of sensitive financial and supervisory data, arguing that traditional practices such as uploading files to regulator-controlled portals or sending encrypted emails can create unnecessary cybersecurity risks. In a risk-based...
Capital One has announced the open-source release of its in-house agentic AI security tool. The banking giant’s VulnHunter is designed “to apply proactive, attacker-perspective analysis directly to the source code,” Capital One said in a news release. “Advanced AI models have dramatically lowered the barrier for bad actors...
A new report by House Republicans argues that fraud and scams have reached “unprecedented” levels. The report, issued by the House Financial Services Committee Wednesday (July 22), says that Americans reported $15.9 billion fraud/scam losses in 2025. That’s up 28% from the prior year and 1,800%...
Companies are pouring more money into private jets, personal drivers, home surveillance and cyber defenses to protect senior leaders. But few can say exactly how much risk that spending removes. Between 2023 and 2024, for example, Intel Corporation expanded its security spending by over 8,000%,...
OpenAI said Tuesday (July 21) that a security incident reported last week by Hugging Face was caused by OpenAI models as their cyber capabilities were being tested by OpenAI. “We consider this incident to be an unprecedented cyber incident, involving state-of-the-art cyber capabilities, and are responding accordingly,” OpenAI...
The White House has launched an artificial intelligence-powered cybersecurity clearinghouse designed to accelerate the discovery and remediation of software vulnerabilities. Although not aimed specifically at financial institutions, the initiative could eventually influence how federal banking regulators assess institutions’ cyber risk management practices. Known as “Gold...
Hugging Face, whose platform hosts AI datasets, has reportedly suffered an AI-powered data breach. As TechCrunch reported Monday (July 20), the company revealed the breach last week but said it was still determining if any customer or partner data had been stolen. On its blog, Hugging Face said...
Governments have reportedly begun banning ransomware payments to hackers as demand amounts continue to rise. That’s according to a report Monday (July 20) from the Financial Times (FT), which cites the example of the U.K.’s planned ban on ransomware payouts from public sector organizations and “critical national...
Seventeen companies in the United States have reported or been affected by cyber incidents this year amid a worldwide surge in artificial intelligence-driven cyberattacks, Reuters reported Friday (July 17). The latest company to report a cyberattack is Fairlife, a dairy company owned by The Coca-Cola...