Ireland's Central Bank has imposed a €1.66m fine on Bank of Ireland (BoI) for a regulatory breach that saw one of its subsidiaries transfer more than €100,000 to a hacker that had illegally accessed a client's email account.

Visa and Mastercard both slapped eight figure fines on Wirecard years before the German payments processor's recent spectacular collapse in the face of an accounting scandal, according to the Wall Street Journal.

American banking app Dave says a data breach at third party provider Waydev has exposed the personal information of its 7.5 million users.

European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard.

The European Central Bank says EU financial institutions have an over-optimistic view of their IT resilience and resistance to cyber threats owing to an undue reliance on outsourcing and legacy wiring.

Stablecoins could be attractive to criminals and terrorists if they reach mass-adoption, warns the Financial Action Task Force (FATF) which nevertheless concludes that its revised standards can mitigate the risks - as long as these new coins are centralised.

Source: Verint

Verint Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company, and Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, have joined forces to provide the financial services market with a fully compliant, cloud-enabled communications solution to support traders both on the trading floor and remotely, providing necessary flexibility as the industry continues to move to cloud-based platforms and work-from-home environments during and beyond the COVID-19 pandemic.