Commonwealth Bank of Australia has finally come clean on a potential data breach involving 19.8 million customer accounts in 2016, after initially failing to notify customers of the incident.
The bank's burying of breach has come into sharp relief in the wake of a damning report by financial regulator Apra into CBA's governance, accountability and culture and may lead to further questioning by data privacy watchdogs.
Three Mexican banks have been forced to activate contingency measures to foil attempts by hackers to infiltrate the country's real-time payments network.
The UK cryptocurrency community is calling on the Government and the Financial Conduct Authority to toughen up rules governing the trading of virtual currencies and to issue licenses to firms which demonstrate compliance.
A group of industry stakeholders has put together a draft governance framework for a new US Faster Payments Council (FPC). The 27-member Governance Framework Formation Team (GFFT) has spent eight months working on the draft for the new council's framework and has now released it into the wild, inviting others to provide feedback over the next 60 days.
SunTrust Bank says that a former employee may have attempted to steal information on about 1.5 million customers and pass the data on to a criminal third party.
Aggregated data published by EMVCo shows that by the end of 2017, 54.6% of all cards issued globally were EMV-enabled. The number of EMV payment cards in worldwide circulation increased by 1 billion over the previous 12 months to a total of 7.1 billion.
New ‘Beyond Regulation’ programme reveals critical importance of compliance, not only in terms of regulatory changes but also how it enhances businesses across the globe.
CybSafe, the providers of a GCHQ-accredited cyber security awareness platform, announced that it has been selected by the Financial Conduct Authority (FCA) to help shape guidance on tackling the human aspect of cyber security in the financial services sector as part of the FCA’s 2018/2019 Business Plan.
