New York to form cryptocurrency task force
New York State is to set up a cryptocurrency task force to study how to properly regulate, define and use alternative digital currencies and the technology that underpins them, blockchain.
Global regulatory alignment needed to benefit from tech advances - Deutsche Bank
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.
US regulators suggests banks and credit unions share resources to fight financial crime
The federal depository institutions regulators and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) today issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.
FCA hits Tesco Bank with £16.4 million fine for cyber failings
The UK's banking watchdog has slapped the banking arm of UK supermarket chain Tesco with a £16.4 million fine for its failure to prevent a cyber attack that affected thousands of customers in 2016.
Dubai and Japan ink fintech cooperation deal
With its continued efforts to encourage the adoption of technological advancements in the market, the Dubai Financial Services Authority (DFSA) entered yesterday into an Exchange Of Letters with the Financial Services Agency of Japan (FSA) to cooperate in the development of financial technology (FinTech).
Uber Reaches $148 Million Breach Settlement and Pledges Transparency
Uber Technologies has reached a $148 million settlement agreement with the attorneys general of all 50 states and the District of Columbia. The settlement stems from the company's failure to report a massive 2016 data breach in a timely manner, as well as the company's inadequate information security practices.
Regulator fines Equifax £500k over data breach
Source: Information Commissioner’s Office
The Information Commissioner’s Office (ICO) issued Equifax Ltd with a £500,000 fine for failing to protect the personal information of up to 15 million UK citizens during a cyber attack in 2017.
Russian national behind massive JPMorgan hack extradited to US
The Russian hacker behind the largest theft of customer data from a US financial institution in history has been extradited to the US to face multiple charges of computer fraud.
