The vast customer data troves of the Big Tech firms challenges traditional approaches to competition policy and the maintenance of financial stability, according to the Bank for International Settlements.

Canadian financial services co-operative Desjardins has confirmed that a rogue employee stole and disseminated the personal information of more than 2.9 million members.
Desjardins was only made aware of the breach when it was contacted by the police in June.

The International Monetary Fund has warned that the arrival of Big Tech firms in financial markets could lead to systemic challenges to financial stability and efficiency.
The spectre of companies like Amazon, Apple, and Google entering the banking industry, was raised by IMF chief Christine Lagarde in an address to the G20 at a summit in Tokyo.

Nearly three quarters of chief information and security officers at financial institutions plan to ask their firms for an increase in cybersecurity investments in the next year, according to a survey. Of 301 CISOs quizzed by the Financial Services Information Sharing and Analysis Center (FS-ISAC), more than half say that 10% or less of their organisation's overall budget is dedicated to cyber security and 73% are looking for a bump.

The Board of the International Organization of Securities Commissions (IOSCO) today issued a final report that provides an overview of three internationally recognized cyber standards and frameworks used by IOSCO members.

Entrust Datacard, a leading provider of trusted identity and secure issuance technology solutions, completed its previously-announced acquisition of nCipher Security, formerly Thales's market-leading general purpose hardware security module (HSM) business.

BBVA held its first Family Cybersecurity Day, an initiative aimed at raising awareness and educating employees and their families about the potential risks derived from the online activities and certain digital habits that are already a part of our daily lives.

The Monetary Authority of Singapore (MAS), Bank of England and the Financial Conduct Authority announced today that they would be working together to strengthen cyber security in their financial sectors.

Chainalysis, the blockchain analysis company, is working with Lendingblock, the institutional lending exchange for digital assets, to implement anti-money laundering technology and best practices in anticipation of global regulatory guidance from the Financial Action Task Force (FATF).

An international criminal network that used malware to try to steal $100 million from more than 41,000 victims, has been dismantled after a law enforcement operation spanning several countries.

EMVCo has released EMV Secure Remote Commerce (SRC) Specification v1.0, which is available for free public download from the EMVCo website.

Schaumburg, IL—While attack vectors remain largely the same year over year, attack volume will increase and cybercrime may be vastly underreported, according to the 2019 State of Cybersecurity Study from global IT and cybersecurity association ISACA.

The US House of Representative is launching task forces looking into fintech and artificial intelligence in financial services.Set up by the House Committee on Financial Services, the fintech task force will look at domestic and international regulation of the nascent sector as well as the infrastructure and legal and regulatory framework for efficient payments.

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