Information Security
Cops bust mastermind behind $1 billion malware heists
The mastermind behind the Carbanak and Cobalt malware attacks on over a 1000 financial institutions worldwide has been arrested in Alicante, Spain, after a complex investigation conducted by the Spanish National Police, with the support of Europol, the US FBI, the Romanian, Belarussian and Taiwanese authorities and private cyber security companies.
In operation since 2013, the crime ring behind the malware struck banks in more than 40 countries resulting in cumulative losses of over EUR1 billion for the financial industry.
World Economic Forum sets up fintech cyber security consortium
Citi and Kabbage have signed on as founding members of a new industry consortium set up by the World Economic Forum to strengthen the cybersecurity of fintech firms and data aggregators.
World Federation of Exchanges lists fintech and cybersecurity among its top four priorities
The World Federation of Exchanges (“The WFE”), the global industry group for exchanges and CCPs, has agreed its 2018 business priorities will focus on areas including regulatory coherence; CCP recovery & resolution issues; cyber security; FinTech; and SMEs.
BAE links Taiwanese bank attack to North Korea
Cybersecurity researchers at BAE System believe that a hacking crew operating out of North Korea were behind a recent malware and money-moving attack on Far Eastern International Bank in Taiwan.
Equifax finds another 2.4m breach victims
Equifax has identified another 2.4 million US victims of the massive data breach the credit referencing firm suffered last year.
Survey Reveals Biggest API Security Concern is DDoS Threats and Bot Attacks
Taiwan's Far Eastern International Bank suffers malware attack
A Taiwanese bank has become the latest to fall victim to hackers planting malware on its servers and sending unauthorised, doctored messages through the interbank Swift network.
'In fraud we trust': US indicts 36 over $530m cybercrime operation
The US Department of Justice has indicted 36 alleged members of a cybergang accused of causing more than $530 million in losses through the acquisition and sale of, among other things, compromised debit and credit cards and banking information.
FIX Trading Community releases guidelines to help firms meet cybersecurity requirements
FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced the release of the FIX-over-TLS (FIXS) standard and guidelines to assist users of the FIX Protocol meet certain security requirements.
SEC data breach: hackers accessed personal information
The Securities and Exchange Commission says that crooks may have accessed the personal information of two people during the 2016 breach at its Edgar corporate disclosure database.
Cybersecurity dominates EU Fintech Action Plan
Cybersecurity takes top billing in the European Union's upcoming Fintech Action Plan, with a draft emphasising efforts to improve cooperation and coordination between market participants and regulators.
EBA publishes final guidance on supervision of significant branches
The European Banking Authority (EBA) publishes today its final Guidelines on the supervision of significant branches.
Security vulnerabilities in the finance sector increase by over 400% since 2013
The number of security vulnerabilities detected in the financial services sector has increased by over 418% in the last four years, according to new research from global cyber security and risk mitigation expert NCC Group.