The Attorney General of New York has filed a lawsuit against Citibank, alleging negligence in safeguarding customers against fraudulent activities and scams.
The Swedish central bank, Riksbank, has taken legal action by filing a police report following a ransomware assault on Tietoevry, a software company.
A recent report from German regulator BaFin underscores cybersecurity and the outsourcing of IT services as major threats to the financial sector.
Source: NCSC
Artificial intelligence (AI) is expected to increase the global ransomware threat over the next two years cyber chiefs have warned in a new report published today (Wednesday).
The European Central Bank (ECB) has issued a warning regarding the significant transition risks faced by banks that are unprepared for the shift towards a low-carbon economy.
JP Morgan has been fined $18 million by the Securities and Exchange Commission (SEC) for impeding clients and brokerage customers from reporting legal breaches to regulatory authorities. The payments giant has consented to paying the penalty charge.
In 2021, the United States witnessed approximately 1.6 million Bank Secrecy Act (BSA) reports, amounting to $212 billion in suspicious activity, all linked to the exploitation of identity processes during various financial transactions.
JPMorgan Chase has experienced a significant surge in hacking attempts on its systems over the past year, according to Mary Callahan Erdoes, the chief executive of the bank's asset and wealth management division. Speaking at the World Economic Forum in Davos, Erdoes highlighted the escalating threat posed by increasingly sophisticated and rapid cyberattacks.
