Information Security
ECB warns banks of possible Russian cyberattack
With the Ukraine crisis brewing, the European Central Bank is talking to financial institutions about a possible Russian-sponsored cyberattack, according to Reuters.
New cyber attack laws proposed by UK Govt
The UK is consulting on new measures for greater resilience among British businesses’ cyber security. This move is part of a £2.6 billion National Cyber Strategy and comes after high profile cyber-attacks.
Bitmart loses $100 million in DeFi hack
Crypto exchange Bitmart has become the latest DeFi firm to fall victim to a large-sacle security breach, losing an estimated $100 million and suspending all withdrawals.
Robinhood shares slip on data security breach
Shares in Robinhood have taken a dip after the retail stockbroking platform revealed that five million customer e-mail addresses were lifted from its servers during a social engineering hack.
JPMorgan Chase to spend $12bn on tech this year
JPMorgan Chase will spend more than $12 billion on technology in 2022, contributing to an eight per cent rise in expenses that could hurt the bank's profitability targets.
DeFi fraud and theft losses reach $10.5 billion in 2021
As regulators hone their focus on Decentralised Finance (DeFi), new data from Elliptic reveals that just over $12 billion in losses have been suffered over the past year by DeFi users and investors.
Fintech Saudi: Over $347m has been invested in Saudi fintech industry in the last 12 months
Source: Fintech Saudi
Over the last 12 months, the fintech industry in Saudi Arabia has continued to grow at a rapid pace as stated in the recent Fintech Saudi Annual Report 2020/2021. The number of Saudi fintech companies operating in the Kingdom rose dramatically by 37% with an investment amount exceeding SAR 1.3bn (USD 347m).
Chainalysis: North Korean hackers stole $400m worth of digital assets in 2021
Rapid shift to digital is outpacing the ability of banks to respond to cyber threats
The rapid shift to digital by established banks in Apac is outpacing their capacity to adequately protect themselves from emergent cyber threats, according to analysis by the Financial Services Information Sharing and Analysis Center (FS-Isac).
Global fintech investment rebounds to hit $98bn in H1
Global investment in fintech bounced back strongly in the first half of 2021, hitting $98 billion with a record number of deals, according to KPMG.
Legacy tech mishandling costs Morgan Stanley $60 million in data breach suit
Morgan Stanley has agreed a $60 million class action settlement relating to legacy technology mishandling that led to two seperate data breaches in 2016 and 2019.
BNY Mellon launches ISO 20022 Hub
BNY Mellon has launched an ISO 20022 Hub to help clients and other financial institutions to manage the transtion to the new payment standard.
Morgan Stanley customer data exposed though Accellion FTA vulnerability
Morgan Stanley says the personal information of stock plan participants has been stolen after a third-party vendor suffered a data breach thanks to a vulnerability with file sharing software from vendor Accellion.
