06.20.23

FINRA Warns Brokerages To Pay Attention to Rising Cybersecurity Threats

by: Mark Schoeff Jr.

The Financial Industry Regulatory Authority recently sent an alert to its member firms pointing to a Cybersecurity & Infrastructure Security Agency advisory from earlier this month. That alert, which was issued jointly with the Federal Bureau of Investigation, analyzed the tactics, techniques and procedures used by an outfit called the Ransomware Gang that is targeting financial services and other critical sectors. The cyber criminals took advantage of a weakness in MOVEit, a file transfer system provided by Progress Software, to infiltrate their targets’ technology systems, according to the alert.

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