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.

Bank in Australia have begun sending data breach notifications to customers following the exposure of an undisclosed number of PayID records in the country's real-time New Payments Platform.

The financial services sector was subject to 3.5 billion credential stuffing attacks over the past 18 months, as cybercrooks used previously breached log-in data to crack open user accounts.
The numbers come from Akamai’s 2019 State of the Internet / Security Financial Services Attack Economy Report, which found that 50% of all attacks from phishing domains were targeted at the financial sector.

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.

Canadian financial services co-operative Desjardins has set aside C$70 million in expenses to cover second quarter costs for a data breach that exposed the accounts of 2.9 million customers.

Capital One revealed Monday that 100 million credit card applications had been accessed, resulting in thousands of Social Security and bank account numbers being left at risk.
Dubbed one of the largest data breaches to hit a financial services firm, the Capital One hack is expected to cost the company between $100 million and $150 million.

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.

The latest Morgan Stanley Investor Pulse Poll finds that high net worth (HNW) investors are increasingly attracted to digital technology while at the same time concerned about cybersecurity.

National Australis Bank has begun contacting approximately 13,000 customers to advise that some personal information provided when their account was set up was uploaded, without authorisation, to the servers of two data service companies.

Mastercard has notified regulators in Germany and Belgium about a loyalty programme data breach affecting the details of several thousand customers.

North Korea has generated an estimated $2 billion in revenues for its weapons programme through the state-sponsored looting of financial institutions and cryptocurrency exchanges, according to a confidential UN report seen by Reuters.

High-flying stock trading fintech Robinhood has warned users to change their passwords after revealing that it stored the sensitive data in plain text, rather than an encrypted format, in its internal systems.