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Today’s most dangerous cyber threats don’t come from hackers breaking into systems- they come from someone convincing you to open the door for them. When most people think of cybercriminals, it conjures up the notion of dimly lit rooms full of nefarious characters feverishly typing computer code, attempting to access your sensitive personal data. But in today’s cybersecurity landscape it’s almost always much simpler; the criminals ask for information directly, and many people unknowingly provide it. These scams, referred to as “social engineering schemes,” manipulate your trust, sense of urgency, or make you afraid. The perpetrators use these tactics to manipulate you into sending money, clicking a link, or handing over access. These attacks don’t require technical sophistication; they rely on something much more powerful, your willingness to act- quickly, emotionally, and often without verifying critical details. The Real Risk: It’s About What They’re Asking You to Do It doesn’t...
04.05.2023
Following the collapse of Silicon Valley Bank and Signature Bank, banking regulators appeared on Capitol Hill last week. Fed Vice Chair for Supervision Barr and FDIC Chair Gruenberg testified before the Senate Banking and House Financial Services Committees about the recent bank failures. The Federal Deposit Insurance Corporation estimates it will cost $22.5 billion to backstop both Silicon Valley Bank and Signature Bank, guaranteeing all deposits. After the initial shock of these bank failures and the heightened sensitivity around bank holdings, the market rapidly adjusted to the new risks with the quickest monetary tightening in 44 years. Still, banks face several headwinds. First, the yield curve remains inverted—longer-term interest rates are lower than short-term rates. For example, the 10-year Treasury is yielding 3.38%, while the Fed Funds rate is 5%. This inversion is the largest in 42 years. It is generally viewed as a bearish signal for the economy,...
