A group of international law enforcement agencies, including the FBI, are claiming a victory over the massive Andromeda botnet, which infected at least one million PCs each month and spawned a wave of malware families.
PayPal has revealed that a potential compromise of personally identifiable information for approximately 1.6 million customers has been found on its TIO Networks.
Recent cyberattacks, such as the October 2017 Swift attack, show how vulnerable financial firms across the globe are to the machinations of hackers.
To date, there hasn’t been a way to understand if online users are being compromised or to be sure precisely what they are seeing whilst visiting and interacting with a web page. We know that endpoint security and anti-viruses fail and online users can be infected even with all the precautions that they may take. Server-side security is now very mature and excellent progress has been made in that particular field.
Allianz with its in-house incubator, Allianz X, has switched gears and pivoted towards a new range of digital investments.
In the tech world, an arms race usually a metaphor for two companies battling for supremacy, but McAfee thinks it might be a bit more literal for artificial intelligence (AI) as hackers upskill to make use of the breakthrough, reports Telecoms.com (Banking Technology‘s sister publication). As one of its predictions for 2018, security software vendor […]
Three more stories from across the world of blockchain and Bitcoin. This latest round-up features Chia Network, Crypto20, and a lesson to learn from recent Bitcoin scams in Canada.
Watching the recent of smartphone launches, I am taken aback by just how much smartphone manufacturers have led to the normalisation and acceptance of biometrics by consumers.
Over the past few weeks, we’ve been sharing some extracts from a new crime thriller, Trading Down, by Stephen Norman, long serving CIO/CTO of RBS Global Markets. Here, in the third and final extract, we return to the action at the Hamilton Datacentre crisis.
Cyber risks have evolved significantly over the last couple of years across industry sectors. The financial services industry, in particular, has become the target of choice with malicious actors exploring every avenue they can in order to identify areas of vulnerability.
Here’s a second extract from Trading Down, by Stephen Norman, which continues the drama in the Hamilton Datacentre.
Behavioural biometrics and threat detection firm BioCatch is working with Samsung SDS America to combat fraud that occurs after a user has logged in.
Ledger, a France-based specialist in security solutions for cryptocurrency and blockchain applications, has partnered with Intel to bring greater protection for users of digital wallets.
A sneak preview of a debut novel by Stephen Norman, long serving CIO/CTO of RBS Global Markets and previously Merrill Lynch. A fast-paced crime thriller – published on 9 November 2017.
Read our fourth and final Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Turbocharge high-frequency trading, fraud prevention and real-time regulatory compliance with in-memory computing.
Ensuring security on Swift’s network doesn’t have to be rocket science. Getting the basics right will help individual institutions and Swift’s community.
Financial technology has the potential to radically transform the securities industry. The fast pace of change could lead to disintermediation, according to an Iosco study.
EastNets has launched its en.SafeWatch PaymentGuard (en.SWPG) at Sibos, a real-time fraud detection solution for Swift payments. The company says en.SWPG is a new artificial intelligence (AI)-powered solution, that can sort out “genuine transactions from suspicious ones and reduces the number of false positives”. Hazem Mulhim, CEO, EastNets, says it “recognises the mounting salience of […]
Read our first Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.
Innovate Finance, a UK-based fintech membership association, is seeking start-ups for its latest Pitch360 competition.
Centre for Finance, Technology and Entrepreneurship (CFTE) has launched a fintech foundation course – Around Fintech in 8 Hours – “designed to give professionals working in the finance industry a solid understanding of how technology is redefining the provision of financial services”.
Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company). The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, […]
The Bank of England’s (BoE) fintech accelerator has unleashed four new initiatives in the fields of distributed ledger technology (DLT), data storage and analysis, machine learning and cybersecurity. As reported in July, BoE revealed the third stage – such as its work with machine learning Mindbridge AI, DLT darling Ripple, and regtech bouncer Enforcd. Now […]
The high risk of cybercrime for financial institutions means that they are generally quick to adopt new technologies which may alleviate the risk of a breach. However, banking institutions can often be held back by legacy infrastructure and applications, due to the sheer scale of their IT operations, which can prove costly to upgrade.
On the heels of Equifax’s massive data breach that compromised 143 million identities, Mastercard today (Oct. 2) announced the launch of Early Detection System, which alerts banks to high-risk cards and accounts that are exposed in security incidents or data breaches.
On Sept. 28, Whole Foods Market announced it had recently received information regarding unauthorized access of payment card data used at certain venues such as taprooms and table-service restaurants located within some of its stores.
Data breaches are nothing new – quite the contrary – in fact their very frequency makes it likely that we’re fatigued to the point of indifference by the number of leaks which are surfacing, reports Telecoms.com (Banking Technology’s sister publication). Knowing the value of money is a lesson parents have been teaching children for years, […]
Semafone, a U.K.- and Boston-based provider of data security and compliance solutions for contact centers, has appointed John Donaldson to the role of chief finance officer, as the company prepares to build on its record growth in 2016.
Banking by the numbers in the EU, with key facts and figures from the European Banking Federation, including stats on which fintech is getting the love from big banks.
Ahead of FinovateFall’s kickoff in New York today, Paybefore spoke with BioConnect Chief Identity Officer Bianca Lopes about all the biometrics buzz in payments and the financial services industry. Her advice to companies looking to invest in biometrics: Don’t forget about the users.
Before you get too excited about the down and dirty world of cloud security, we should warn you this is more of a light-hearted report on the quirky things our sister publication Telecoms.com picked up at the CloudSec conference.
Despite calls from fintechs to permit screen scraping under PSD2, the FIDO Alliance sees some serious flaws with that approach, including security and privacy issues.
Today’s financial services institutions are challenged to keep pace with changing and covert cybersecurity threats. Since financial institutions are among some of the most appealing targets for hackers, it is critical for these organisations to remain extra vigilant about securing confidential information.
The risks are big, but the opportunities are even bigger; that’s why only the bravest are making the most of the digital economy to date.
FIS, a global financial services technology company, has joined forces with information specialist Equifax to create OnlyID, a digital authentication solution that enables consumers to make secure transactions across multiple online accounts without passwords.
Elizabeth Denham, the UK’s information commissioner, made an astute point when she recently called for senior bank executives to get the same cybersecurity training as front-line staff, following the global WannaCry ransomware attack. But implementing the kind of comprehensive cyber defence strategy which includes such training will require a monumental culture shift at the top.
In the 1600s, Spain built an impregnable defence system to protect the San Juan Bay in Puerto Rico. This defence in-depth system fortified San Juan with three lines of defence, marking a high point in military engineering for the time period. A similar model could be used to protect your institution’s account holders from today’s cyberattacks. But with 15.4 million Americans falling victim to identity fraud last year, three lines of defence are no longer enough.
This infographic, created by Tufin, looks at the current threat landscape and how network segmentation can help keep organisations secure from today’s sophisticated cyberattacks.
