Both UK and European banks are separately looking at projects to design an early warning system using market data to mitigate the threat of major misconduct or the beginning of the next financial crisis.

The UK's TSB has chalked up a whacking £107.4 million first half loss as the early costs of its disastrous IT migration to a new Banco Sabadell platform begin to emerge. TSB's notoriously botched migration to the new IT system in April locked customers out of online and mobile customers for over a month and led to a surge in cybercrime as criminals took advantage of the chaos.

RiskIQ, the leader in digital threat management, today revealed that its researchers have discovered that the recent breach of Ticketmaster was not a one-off event as initially reported, but part of a massive digital credit card-skimming campaign by the threat group Magecart affecting over 800 e-commerce sites around the world.
The report highlights how Magecart has evolved tactically from hacking sites directly, to now targeting widely used third-party components.

The infamous Cobalt hacking group, responsible for hundreds of millions of dollars of damages to financial institutions, appears to be embarking on a new campaign.
According to researchers at security firm Netscout, the crooks have already targeted Russia's NS Bank and Romania's Patria Bank with their latest scam.

Singapore's banks have been ordered to tighten customer verification procedures following the recent cyber attack at SingHealth where personal information of 1.5 million individuals was illegally accessed and stolen.

Ticketmaster has gone public on a data breach affecting the personal and payment card details of 40,000 customers, despite being warned about suspicious activity on customer cards back in April.

The Singapore FinTech Association (SFA) and Thomson Reuters are to collaborate on projects to promote the country's fintech industry and strengthen its fight against cybercrime.

Cryptomining malware has replaced ransomware as the crybercrime tool of choice for the online criminal fraternity, accounting for 32% of all recorded attacks in Skybox Security's mid-year tech threats report.

F-Secure has on 18 June 2018 signed an agreement to acquire all the outstanding shares of MWR InfoSecurity, a privately held cyber security company operating globally from its main offices in the UK, the US, South Africa and Singapore. The acquisition is a significant milestone in the execution of F-Secure’s growth strategy, and makes it the largest European single source of cyber security services and detection and response solutions.

A Russian hacker who caused the collapse of one US company and racked up $4 million in fraudulent spending on fake debit cards has received a six-year jail sentence. Mikhail Konstantinov Malykhin used login credentials supplied to him by another hacker to illegally access the online software platform of a healthcare benefits administration firm.

IBM (NYSE: IBM) Security today announced the results of a global study examining the full financial impact of a data breach on a company's bottom line.
Overall, the study found that hidden costs in data breaches - such as lost business, negative impact on reputation and employee time spent on recovery - are difficult and expensive to manage. For example, the study found that one-third of the cost of "mega breaches" (over 1 million lost records) were derived from lost business.

In the wake of the recent TSB outage, the Bank of England is planning to set a "minimum level of service" provision for banks hit by tech meltdowns or cyberattacks.
Citing the TSB outage and the 2012 RBS fiasco, Lyndon Nelson, deputy chief executive of the BOE’s Prudential Regulation Authority told a conference that a growing reliance on technology means that there has been an "increase in the number of operational incidents - be they caused by internal failures or from external attack".