Information Security

Hackers are demanding a ransom from Travelex in return for giving the foreign exchange bureau back control of its IT systems and customer data. On New Year's Eve, Travelex was forced to pull the plug on its websites in 30 countries after discovering a software virus infection.

Australian authorities have delayed the introduction of Open Banking rules by six months amid concerns over testing and security of the new provisions for account data sharing.

UniCredit has uncovered a data breach affecting the personal records of more than three million Italian customers.

Cybercrime has emerged as a major concern for UK financial services firms, rocketing security spending to the top of the technology investment agenda, according to a Lloyds Bank report.

US Government agencies have offered a $5 million reward for information leading to the arrest of the leader of the cyber-crime group Evil Corp. Evil Corp's alleged leader Maksim V Yakubets and administrator Igor Turashev have been charged in a 10-count indictment, including bank fraud, conspiracy, computer hacking and wire fraud.

The average cost to financial services organisations of restoring services after a Domain Name Service Attack has risen by 40% to an eye-watering $1.3 million, according to new research.

The chief executive of the Hong Kong Stock Exchange (HKEx) has conceded that the trading venue was subject to a series of cyber attacks this week but has insisted that an outage which brought derivatives trading to a halt was related to a software bug and not a hacker.

On Wednesday 30 October, LendingCrowd discovered a data security incident resulting in unauthorised access to the personal data of a subset of investors.

A Russian man has pleaded guilty to taking part in a massive computer hacking campaign targeting JPMorgan Chase and other US banks, brokerage firms and financial news publishers.
Andrei Tyurin faces a lengthy prison term after pleading guilty in Manhattan federal court to computer intrusion, wire fraud, bank fraud, and illegal online gambling offenses.

Seattle-based software engineer Paige Thompson faces up to 25 years in prison after being indicted on two counts related to the Capital One data breach that affected 106 million customers.

Users of crypto derivative platform BitMEX are being urged to update their accounts after thousands of email addresses were mistakenly shared in a mass email.