The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) today entered into an agreement that provides a framework for cooperation and referrals between the innovation teams of each authority.
United Overseas Bank is to apply machine learning technology from local RegTech startup and accelerator graduate Tookitaki across its entire anti-money laundering framework following a successful six-month pilot trial.
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.
Commonwealth Bank of Australia has apologised for a data centre failure which locked customers out of internet and mobile banking and hit card payments for most of Monday.
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.
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.