BoA Data Breach, Capital One to Acquire Discover, 2023 in Remittances, FinCEN Trends Analysis and many Free Resources

Edition 10 | February 21, 2024

Welcome to this edition of CIO Sprint Review, where we delve into pivotal fintech reports, cybersecurity updates, and AI advancements shaping our industry. From the transformative roadmap for DevOps security to the latest in web security testing by OWASP, and critical insights from the NSA's cybersecurity review, we're covering ground-breaking developments.

Plus, we explore significant fintech milestones including Bank of America's data breach response, advancements in generative AI for financial services, and the latest in digital payments innovation in Colombia with Bold.co's Series C funding.

Join us as we navigate through regulatory landscapes, market dynamics, and technological innovations driving the future of finance and cybersecurity.

Let’s get right into the topics.

CYBERSECURITY NEWS

The DevOps Roadmap for Security via Burcu YARAR

🚀 Transform your DevOps with Security! Dive into "The DevOps Roadmap for Security" for essential strategies on integrating security seamlessly into DevOps practices. Boost collaboration, efficiency, and security from development to deployment. A must-read for professionals in #DevOps and #DevSecOps. Get ahead in securing your applications and infrastructure! 🛡️ #CyberSecurity #TechInnovation

Hacker arrested for selling bank accounts of US and Canadian Users

🚨 Cybercrime crackdown: Ukrainian cyber police nab hacker for selling US & Canadian bank accounts on the dark web. Using “trojanized” software & sophisticated phishing, the operation netted over $92,000. The arrest underscores the global fight against cybercrime. Stay vigilant online! #CyberSecurity #CyberCrime

WEB SECURITY TESTING GUIDE - OWASP® Foundation via The Cyber Security Hub™

🛡️ Master web security with OWASP's latest guide (Version 4.2)! Dive into techniques, best practices, and tools for securing your web applications. Whether you're a developer, QA, or security pro, there's something for everyone. Stay ahead of threats with comprehensive testing strategies. 🚀 #WebSecurity #OWASP #DevSecOps

2023 NSA Cybersecurity | Year In Review via The Cyber Security Hub™

🛡️ NSA's 2023 Cybersecurity Review showcases pivotal strides in securing national security systems, the DoD, and the Defense Industrial Base against global threats. Leveraging partnerships, advancing quantum-resistant cryptography, and enhancing cyber defense capabilities underscore NSA's commitment to national and allied cybersecurity resilience. Dive into the full review for an in-depth analysis of protecting our digital frontier. #Cybersecurity #NSA #NationalSecurity #QuantumComputing #DefenseInnovation

Bank of America warns customers of Data Breach

Bank of America alerts customers of a data breach via Infosys McCamish Systems hack, exposing PII for 57,028 individuals. Despite no compromise to BofA's systems, the breach, claimed by LockBit ransomware, raises concerns over financial data security. #DataBreach #CyberSecurity #BankofAmerica

ARTIFICIAL INTELLIGENCE

How Financial Services Firms Can Build A Generative AI Assistant by Grant Easterbrook

🚀 Financial Services' Next Frontier: Building Generative AI Assistants! Dive into the transformative power of AI in finance - from off-the-shelf solutions to proprietary models. Discover key strategies for low latency, strong conversational capabilities, and essential guardrails. A must-read for innovators ready to revolutionize customer interaction and secure a competitive edge. #FinTech #GenerativeAI #FinancialInnovation

BANK TECHNOLOGY NEWS

2023 in Remittances | The Year in Review via Ahmed Nasr

🌎 Latin America's remittance revolution leaps forward in 2023! 💸 A $160B+ surge, with #FinTech & P2P leading the charge. Key players like Western Union, Remitly, & Intermex are reshaping the landscape, fueled by migration dynamics & digital innovation. Dive into the full report for a deep dive into the booming market, evolving trends, and what's next for #Remittances in LatAm. #LatAmFinance #DigitalCurrency #BankingInnovation

Capital One to Aquire Discover from a Regulatory Perspective by Michele Alt

🚀 Big moves in banking! Capital One's bold play to acquire Discover could redefine the payments landscape, aiming to rival Visa/MC. With a $600B+ valuation, the deal faces regulatory scrutiny but promises a competitive shake-up. Rich Fairbank eyes Fed & OCC approval, eyeing vast synergies & a global payments platform. Will this merger sail through regulatory checks? Stay tuned for a fintech revolution! #BankingInnovation #FinTech #CapitalOneDiscoverDeal

Fintech Trends 2024 via Victor Yaromin

🔍 2024 Fintech Trends: #AI takes the lead, reshaping customer personalization, fraud prevention & risk detection. #OpenBanking & #DigitalCurrencies are revolutionizing finance, driving innovation & customer power. Dive into Velmie's report for a deep dive into the future of finance. 🚀 #FintechFuture #VelmieInsight

The #FinTech Journey Continues: What to Watch for in 2024 via Nafis Alam

🔍 The #FinTech landscape in 2024 is ripe for innovation! From #RealTimePayments transforming global transactions to the rise of #InsurTech 2.0, the sector is evolving rapidly. #B2B payments digitization, financial APIs for SMBs, and #EmbeddedFinance are key trends to watch. Investors favor resilient B2B models, while #ECommerce and FinTech integration enhances customer experiences. Dive into the future of finance, where technology bridges gaps and creates opportunities. 🚀 #FutureOfFinance #DigitalTransformation

Colombia Fintech, Bold, raised $50 million in Series C via Colombia Fintech

🚀 Bold.co energizes Colombia's digital payment scene with a $50M Series C, led by General Atlantic & joined by International Finance Corporation! With $130M raised, Bold's dataphones are revolutionizing SME transactions, benefiting from the COVID-accelerated shift to digital payments. Now serving 150,000 merchants & growing, Bold's expanding into banking services, aiming to blend financial products & software solutions for merchants. Here's to scaling new heights in fintech innovation! #FinTech #DigitalPayments #Colombia

State of Fintech 2024 via Sam Boboev

Navigating through the "State of Fintech 2024" report reveals a fintech landscape in flux, underscored by regulatory tightening, market corrections, and transformative innovation. As fintech firms adapt to increased scrutiny, those emphasizing capital-efficient growth have found stability, with notable recoveries in sub-sector valuations. Despite challenges, significant opportunities lie ahead, with fintech capturing less than 10% of financial services revenue but showing robust growth. Innovations like generative AI await their full impact, promising further evolution in the financial sector.

GOVERNANCE, RISK AND COMPLIANCE NEWS

Is once a PEP, always a PEP? by Ferda K.

🔐 Navigating the tightrope of #PEPscreening & #compliance in banking? Our latest dive into the delicate balance of #KYC, #AML regulations, and the vital role of continuous monitoring to safeguard against corruption & money laundering. Why thorough PEP checks are non-negotiable for financial integrity. Plus, intriguing cases of Nigel Farage & Jeremy Hunt. #RiskManagement #BankingSecurity #PoliticallyExposedPersons 💼🔍

Financial Trends Analysis by FinCEN via Maha Al-Saadi

🚨 FinCEN's latest report reveals a dramatic increase in OCSE & human trafficking cases involving cryptocurrencies, highlighting a surge in suspicious activities from $133M to $278M. Bitcoin remains the primary currency for illicit transactions. A crucial read for #CyberSecurity & #FinTech professionals! 🕵️♂️💼 #FinancialTrends #Cryptocurrency

Investment Advisers in the US: Upcoming AML/CFT Regulatory Changes 📊 via Anna Stylianou

🚨 Big move for US investment advisers! FinCEN's proposed rule will redefine them as Financial Institutions under the BSA, mandating robust AML/CFT measures. This aims to seal regulatory gaps, boost transparency, and safeguard the economy. Your thoughts? Feedback welcomed until April 15, 2024. #AML #CFT #FinanceRegulation

RESOURCES AND TOOLS

Cybersecurity Summer Schools by Gabrielle B.

🌐 Dive into the world of #Cybersecurity this summer! Whether you're a seasoned pro or a curious teen, explore top summer schools across the globe 🌍 and online. From pentesting to ethical hacking, there's a camp for every skill level. Ready to level up your cyber skills? Check out Gabrielle B's curated list and follow for more tips! #CyberSec #EthicalHacking #SummerSchools 🚀

FREE Cybersecurity course for aspiring SOC Analysts via David Meece

Elevate your cybersecurity skills FOR FREE! 🚀 Dive into our comprehensive course designed for aspiring SOC Analysts, Red Team, Purple Team, & GRC pros. Whether you're starting or advancing your career, get hands-on with Exposure Management & earn a Certificate, Credly badge, and 5 CPE credits. Enroll now & become a certified expert in Exposure Management. Zero cost, maximum value! #Cybersecurity #FreeCourse #GetCertified

Thick Client PenTest Apps by Gabrielle B

Unlock the secrets of #ThickClient pentesting with this FREE treasure trove 🚀! From foundational knowledge to advanced tactics, dive into resources, labs, and tools curated by Gabrielle B. Perfect for newbies & pros in #cybersecurity, enhance your skills & secure desktop apps like a master. 🛡️🔍 #Pentest #CyberSecResources

FREE resources that will help you to break into GRC and InfoSec by David Meece

From risk management frameworks like ISO 31000 & NIST to the fundamentals of information security and control frameworks, everything you need to start or enhance your career is here. Plus, insights into audit standards and business continuity management. A big shoutout to Aron Lange for compiling these invaluable resources. Join the conversation and add your findings! #GRC #InfoSec #FreeResources #CyberSecurity

Project Management Resources in Cybersecurity

Dive into the essential world of Project Management in Cybersecurity with these FREE resources 🚀! From mastering fundamentals to specialized courses & tools, elevate your skills for a top-demanded profession. Explore, learn, and lead in the digital security landscape today! #ProjectManagement #Cybersecurity #FreeResources

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