Both UK and European banks are separately looking at projects to design an early warning system using market data to mitigate the threat of major misconduct or the beginning of the next financial crisis.

The infamous Cobalt hacking group, responsible for hundreds of millions of dollars of damages to financial institutions, appears to be embarking on a new campaign.
According to researchers at security firm Netscout, the crooks have already targeted Russia's NS Bank and Romania's Patria Bank with their latest scam.

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.

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.

Singapore's banks have been ordered to tighten customer verification procedures following the recent cyber attack at SingHealth where personal information of 1.5 million individuals was illegally accessed and stolen.

Cryptomining malware has replaced ransomware as the crybercrime tool of choice for the online criminal fraternity, accounting for 32% of all recorded attacks in Skybox Security's mid-year tech threats report.