#Cybersecurity in finance

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Are Budgeting Apps secure?

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Hot News Flash

A new report raises questions about Elon Musk claim of a massive cyberattack brought down X. Wire suggests X may have left some of it servers unsecured. Is Muck covering up incompetence Is Musk lying to the #america ?

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The mission of the Gordon Ford College of Business is to actively support and engage students, faculty, staff, and community in academic and lifelong professional development, providing the foundation needed to lead in today's diverse business environment.

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Mastercard research highlights urgent need for UAE SMEs to stay ahead of evolving cyber threats

47% of small businesses in the country have experienced a cyberattack Top five cyber threats to SMEs in the UAE include malware, digital skimming, hacking, phishing and ransomware The survey notes that small businesses are actively seeking partners and solutions to bridge knowledge gaps and fortify defenses Press Release – Dubai, UAE; 23 April 2025: Readiness to tackle cyber threats has never…

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Researchers develop unsupervised machine learning method to improve fraud detection in imbalanced datasets

- By Nuadox Crew -

Researchers at Florida Atlantic University have developed a new machine learning method that significantly improves fraud detection by generating accurate class labels from severely imbalanced datasets—common in fraud cases where fraudulent events are rare.

Unlike traditional methods that rely on labeled data, their unsupervised technique works without prior labeling, cutting costs and addressing privacy concerns.

Tested on large real-world datasets (European credit card transactions and Medicare claims), the method outperformed the widely-used Isolation Forest algorithm by minimizing false positives and requiring less human oversight. It combines three unsupervised learning models with a percentile-gradient approach to isolate the most confidently identified fraud cases, enhancing accuracy and efficiency.

Published in the Journal of Big Data, this approach offers scalable, low-cost fraud detection for high-risk industries like finance and healthcare, and was recognized with a Best Student Paper Award at the IEEE ICTAI 2024 conference. Future work will focus on automating optimal label selection to further boost scalability.

Read more at Florida Atlantic University (FAU)

Scientific paper: Mary Anne Walauskis et al, Unsupervised label generation for severely imbalanced fraud data, Journal of Big Data (2025). DOI: 10.1186/s40537-025-01120-x

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[ottoshelpfulhacks]

Crypto Today: Hacks, Lawsuits, and Big Changes in 2025

The future of cryptocurrency: A high-tech look at Bitcoin, Ethereum, and blockchain innovation in 2025. Cryptocurrency is never boring, and today is no exception. We’re witnessing major market shifts, security breaches, legal battles, and even political fights over meme coins. Whether you’re a seasoned investor or just keeping an eye on the space, these stories are shaping the future of crypto…

[theblockchaintechnology]

Blockchain Technology: The Future of Secure Transactions

📌 What is Blockchain?

Blockchain is a decentralized digital ledger that records transactions securely across multiple computers. Each transaction is stored in a block and linked to the previous one, forming a chain of blocks that cannot be altered without changing the entire network. This ensures transparency, security, and immutability in data recording.

Key features of blockchain technology: ✅ Security – Transactions are encrypted and protected from tampering. ✅ Transparency – Every transaction is recorded and verifiable. ✅ Decentralization – No single entity controls the data, reducing fraud risks. ✅ Efficiency – Eliminates middlemen, enabling faster transactions.

🔍 The Evolution of Blockchain Technology

Blockchain was first conceptualized in 1991 by cryptographers Stuart Haber and W. Scott Stornetta to create tamper-proof digital timestamps. In 2008, an anonymous entity known as Satoshi Nakamoto introduced Bitcoin, the first cryptocurrency utilizing blockchain to prevent double-spending without requiring a central authority. Today, blockchain extends beyond cryptocurrency into finance, healthcare, supply chain management, and cybersecurity.

💡 How Blockchain is Changing Industries

1️⃣ Blockchain in Financial Services

Traditional banking transactions often involve third parties, leading to delays and fees. Blockchain enables instant peer-to-peer transactions, reducing costs and improving security.

2️⃣ Smart Contracts for Automation

Smart contracts are self-executing agreements coded into the blockchain. They trigger actions automatically when predefined conditions are met, eliminating the need for intermediaries.

3️⃣ Auditing & Fraud Prevention

With real-time auditing capabilities, blockchain ensures financial records remain accurate, tamper-proof, and easily verifiable, reducing fraud risks in accounting and finance.

4️⃣ Secure Identity & Data Protection

Blockchain can be used to create decentralized digital identities, giving users control over their personal data and reducing identity theft.

5️⃣ Supply Chain Transparency

By tracking goods through blockchain, businesses can monitor shipments, reduce fraud, and improve efficiency.

6️⃣ Healthcare Record Management

Blockchain enables secure, interoperable, and immutable medical records, ensuring better patient data security and accessibility.

🚀 The Future of Blockchain

Blockchain adoption is growing rapidly, with industries exploring its potential for security, efficiency, and transparency. As the technology advances, professionals with blockchain expertise will have a competitive edge in sectors like finance, cybersecurity, and digital payments.

💬 What are your thoughts on blockchain’s impact? Could it replace traditional banking systems? Drop your opinions below! ⬇️

[theblockchain10]

Blockchain Technology: Why It Matters for Accounting Majors & Finance Professionals

Blockchain isn’t just a buzzword—it’s reshaping finance, accounting, and digital transactions. If you’re an accounting major, finance professional, or just curious about the future of secure transactions, understanding blockchain is becoming essential. But what exactly is it, and why does it matter for the financial world? Let’s break it down.

🌐 What is Blockchain Technology?

At its core, blockchain is a decentralized digital ledger that records transactions across a network of computers. Each transaction is encrypted, verified, and added to a chain of previous transactions—hence the name "blockchain." Once data is recorded, it can’t be altered, making it secure, transparent, and tamper-proof.

Key features of blockchain technology: ✅ Security – Transactions are encrypted and decentralized, making hacking nearly impossible. ✅ Transparency – Every transaction is recorded and publicly verifiable. ✅ Decentralization – No central authority controls the data, reducing the risk of fraud. ✅ Efficiency – Transactions can be completed in real time, eliminating middlemen.

🔗 The Evolution of Blockchain

Blockchain isn’t new—it dates back to 1991, when cryptographers Stuart Haber and W. Scott Stornetta created a system for time-stamping documents securely. Fast forward to 2008, an anonymous figure known as Satoshi Nakamoto introduced Bitcoin, the first cryptocurrency powered by blockchain. Today, blockchain extends far beyond cryptocurrency, impacting industries like finance, healthcare, supply chain management, and more.

💰 How Blockchain is Changing Finance & Accounting

1️⃣ Blockchain-Based Payment Systems

Traditional bank transactions rely on intermediaries (banks, payment processors, etc.), causing delays and fees. Blockchain eliminates the middleman, allowing instant, low-cost transactions worldwide.

2️⃣ Smart Contracts & Automated Transactions

Blockchain enables self-executing contracts (smart contracts) that automatically trigger actions when conditions are met. This reduces paperwork, legal fees, and human error in financial agreements.

3️⃣ Audit & Compliance Revolution

Accounting professionals can use blockchain for real-time auditing, ensuring transactions are accurate, traceable, and unalterable. This reduces fraud and enhances transparency in financial reporting.

4️⃣ Fraud Prevention & Cybersecurity

With blockchain, every transaction is encrypted and cannot be altered, making financial records highly secure. This could eliminate identity theft and fraud in banking and accounting.

🚀 The Future of Blockchain in Finance

Many companies are integrating blockchain to enhance security, efficiency, and transparency. As the financial industry evolves, those with blockchain expertise will have a competitive edge in accounting, banking, and investment sectors.

Learning blockchain now isn’t just a smart move—it’s a game-changer for the future of finance. Stay ahead of the curve!

💬 What do you think? Could blockchain replace traditional banking systems? Share your thoughts! ⬇️

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10 Cutting-Edge Technology Trends Shaping 2025

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Cassava Technologies Secures USD 310 Million in Funding and Completes Business Reorganisation

Cassava Technologies (Cassava), a global technology leader of African heritage, proudly announces three significant milestones: a substantial equity injection, the successful completion of its South African Rand (ZAR) debt refinancing, and the finalisation of its legal reorganisation. These strategic initiatives position Cassava for robust growth underpinned by a strong balance sheet. Cassava…

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Why Cyber Security Important in the Finance Sector

Cyber Security is becoming a prominent issue for organisations around the world. The cyber security sector is crucial, especially when it comes to Financial Firms as it saw the highest volume of Cyber Threats incidents over any industry including Communication Technologies, Manufacturing, Retail and Professional services. In a high profile event, we demonstrate that cyberattacks are caused due to service disruption, substantial economic loss, which leads to exposure of sensitive data. Financial institutions have been a leading target for cyber attacks as the evolution of cyber threats strengthens their defences.

It is essential to widen cyber security strategies that are increasingly sophisticated and diverse which further contribute to the financial sector. We’ve seen websites facing attacks such as money transfer systems that have made headlines like in 2016 when attackers stole 81 million dollars from the Central Bank of Bangladesh. As fast as we are adopting new financial technologies, hackers are finding ways to penetrate those systems. This is because they understand how to conduct fraud and manipulate data. Organisations are responding by shifting from passive cyber defence to more active cyber defence strategies. Passive strategy is largely reactive, whereas, an active strategy involves going outside your network and directly engaging with the hackers who have tried to cause you harm.

Currently, we are seeing the financial sector look into military intelligence agencies for different types of active cyber defence strategies. Financial firms are largely adopting AI to combat this threat and actively investing in AI and ML, which are ideal for pattern recognition. These technologies can undercover the patterns of criminality that enable them to go hunt these fraudsters. Technology presents the best opportunity to leverage the skills in helping them to overcome security challenges to focus on federal and slave to local government. Remote workers are a big threat to many companies these days. This is because it is becoming increasingly complex to handle their updates and patches on mobile management for the systems. This in turn makes a big difference when it comes to enterprise security.

In today’s digital world, net security is present to help you with both software and hardware protection, in order to ensure a protected environment and secured network connection for all remote employees. Main Stream Media specialises in vulnerability management and compliance expertise. Their advisory level staff can help you build-up programs, protect your data and your reputation that help safeguard you against cyber security threats. Hence, regulatory non-compliance MSM net security is certified at both state and federal levels by checking it on the web for more information and clarity.

There are a broad range of attackers and attacks faced by the financial service companies. The financial sector is now faced with the necessity to develop a contextual understanding of risk targets and their relative susceptibilities. It’s hard for hackers to reach the target at bank where individual effort is put in and try to use the individual money to gain their success. Cyber Security Strategy is a plan for managing organizational risk according to the defence. For the organization to meet the business or objective, it is necessary to have a plan to minimise the attack and for a financial company. It is also essential to protect its customer data which as many sectors have experienced multiple breaches. As a precaution protect your data and networks from both outsiders and from employees who may tempted to use company information or resources for personal gain.

For more details visit us : BFSI Summit

[ottoshelpfulhacks]

Crypto Today: Hacks, Lawsuits, and Big Changes in 2025

The future of cryptocurrency: A high-tech look at Bitcoin, Ethereum, and blockchain innovation in 2025. Cryptocurrency is never boring, and today is no exception. We’re witnessing major market shifts, security breaches, legal battles, and even political fights over meme coins. Whether you’re a seasoned investor or just keeping an eye on the space, these stories are shaping the future of crypto…

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The ongoing AI revolution is reshaping the world, one algorithm at a time - AI News

New Post has been published on https://thedigitalinsider.com/the-ongoing-ai-revolution-is-reshaping-the-world-one-algorithm-at-a-time-ai-news/

The ongoing AI revolution is reshaping the world, one algorithm at a time - AI News

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In just a few years, the realm of AI has transcended its initial computational boundaries, emerging as one of the transformative forces of the 21st century, permeating virtually every major economic sector.

The global AI market was valued at $638.23 billion during Q4 2024, and is projected to reach a valuation of $3.6 trillion by 2034, largely because AI has the potential to gain widespread adoption in multiple industries.

For instance, in healthcare, 38% of all major medical providers use advanced AI diagnostic tools. Similarly, the financial sector has also demonstrated impressive integrations, with AI projected to contribute approx. $15.7 trillion to the global economy by 2030.

The retail industry has also set its sights on anywhere between $400 billion and $660 billion annually thanks to AI-driven customer experiences, while the cybersecurity sector is set to register a 23.6% growth rate – by 2027 – because of AI-powered intelligent security technologies.

It is estimated that about 83% of companies have already begun considering AI as a strategic priority, recognising its potential to drive innovation, enhance efficiency, and create competitive advantages.

Simplifying everyday life with AI

With the global tech landscape having transformed over the last couple of years, we are now at a point where AI is starting to automate various mundane and time-consuming everyday tasks.

The concept of ‘AI twins�� has gained traction recently, allowing individuals to manage scheduling, respond to emails, conduct research, and handle complex administrative tasks efficiently.

These digital companions represent more than just a caricature of a person’s real-world identity; they offer productivity accelerators designed to liberate anyone from repetitive work cycles (thus allowing them to focus on more creative, strategic, or emotionally nuanced tasks).

They can also help reduce the cognitive and emotional burden of managing multiple responsibilities, which could otherwise be overwhelming for some.

Leading this revolution is Twin Protocol, a platform that seeks to redefine how humans interact with AI, primarily via the creation of secure, dynamic digital representations that can learn, adapt, and evolve alongside their human counterparts.

By using the power of trained machine learning algorithms and decentralised ledgers, Twin Protocol allows individuals to develop digital twins that can capture not just information, but individual expertise and personality traits.

The platform’s potential spans industries, ranging from healthcare to manufacturing and finance. Imagine possessing the ability to deploy a perpetually-available AI twin that can provide personalised healthcare advice, or a digital representation of a financial advisor offering real-time, context-aware investment strategies.

These twins aren’t designed to serve as mere information repositories but as intelligent and dynamic tools capable of understanding context, learning continuously, and providing nuanced, personalised interactions.

What sets Twin Protocol apart is its commitment to maintaining individual agency and data privacy. Through its blockchain-based ‘Twin Vault‘, users can retain control over their digital identity, ensuring that personal information remains secure.

Thanks to its unique proposition, the platform has attracted several collaborations, including partnerships with SingularityNET and notable figures like Deepak Chopra and Robert Bell (founding member of Kool & the Gang).

AI’s potential is still uncharted

It is estimated that over the coming decade, AI’s potential could grow hugely, with offerings like Twin Protocol demonstrating next-generation technology, allowing users to explore new concepts like digital twins.

From personalised education to industrial optimisation, AI is moving beyond the category of being a tool, becoming a transformative partner capable of extending individual capabilities.

AI’s journey and symbiosis is likely to push the boundaries of what’s possible today. Some of the most exciting innovations emanating from the field will lie not in the technology, but in how its potential is applied to other fields. Interesting times are ahead!