US regulators have promised not to penalise banks that use artificial intelligence tools to spot gaps in existing anti-money laundering programmes, paving the way for the use of new technologies to tackle illicit financial activity.

The details of millions of payment cards may have been exposed in a hack on hotel giant Marriott affecting 500 million guests.

A senior executive at the European Central Bank has warned that the next financial crisis may be triggered by a cyber attack.

British Airways is warning that another 185,000 customers may have had their payment card details stolen in a data breach.

Management and technology consultancy BearingPoint, which ranks among the leading providers of Regulatory and Risk Technology (RegTech/RiskTech), announced today that its RegTech product unit has formed a partnership with IBM Services for regulatory reporting.

Customer card data from nearly all of Pakistan's major banks has been stolen in a cyberattack, says the country's Federal Investigation Agency (FIA).

Distributed ledger technology has huge potential to improve regulatory compliance processes, according to a report from the Euro Banking Association.

London: Starling, the leading digital bank, is launching Client Money Accounts to provide more secure, efficient and compliant account management for professional practices that hold money on behalf of clients.

HSBC has locked some customers out their online accounts in response to a data breach that saw unauthorised users gain access to a host of financial and personal information.

The potential of open APIs, cloud, blockchain and AI to transform the financial services sector will only be realised if regulators keep up and accept the "new realities" created by emerging technologies, argues a new Deutsche Bank white paper.

Vision Direct says that the personal details and payment card numbers, expiry dates and CVV codes of thousands of customers have been stolen by criminal hackers.

IBM (NYSE:IBM) and Red Hat (NYSE:RHT), the world's leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.

Some of America's biggest banks have joined forces with fintech firms to launch a non-profit organisation that tackles the contentious issue of sharing consumer data.
Bank of America, Citi, JPMorgan Chase and Wells Fargo are among the banks backing Financial Data Exchange (FDX), alongside a host of firms, including Intuit, Xero and Yodlee, that want access to consumer account data.

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