A cyberattack on a major US bank could have significant spillovers to other lenders, with serious implications for the whole financial system, according to research from the Federal Reserve Bank of New York.

Australia's P&N Bank has had it customer relationship management system raided by hackers, putting at risk the personal information of some 96,000 members.

A US judge has rubber-stamped a $1.38 billion settlement related to the massive 2017 data breach at Equifax - capping the amount available for cash payouts to victims. As first reported by BankInfo Security, the federal judge has given final approval for a settlement that deals with a class action lawsuit against Equifax.

Despite its site still being down two weeks after a ransomware attack, Travelex insists it "continues to make good progress with its technology recovery". Travelex services have been down since New Year's Eve. In a statement, the firm says it has restored some internal and order processing systems and is now moving onto customer-facing systems.

UK consumer electronics retail group Dixons Carphone has been fined £500,000 after hackers compromised its point-of-sale system and gained access to the details of 5.6 million payment cards.

Hackers are demanding a ransom from Travelex in return for giving the foreign exchange bureau back control of its IT systems and customer data. On New Year's Eve, Travelex was forced to pull the plug on its websites in 30 countries after discovering a software virus infection.

The US Government's increasingly belligerent confrontation with Iran has prompted New York's Department of Financial Services to urge banks to heighten cybersecurity precautions.
The Iranian government has vowed to retaliate against the United States for the death of Qassem Soleimani, the Middle East country's most prominent military commander.