November 13. 2014 - The war of words between retailers and banks over cyber-security failures has moved to the political stage, as lobby groups for both parties petition the political elite on Capitol Hill for legislative action to curb future data breaches.
November 13, 2014 - The UK's new Payment Systems Regulator (PSR) has set out its plans to regulate the £75 trillion industry via a package of measures intended to promote innovation and competition and provide fairer access to payment systems.
November 13, 2014 - MasterCard says a forthcoming wholesale upgrade of the 3DSecure protocol for authenticating online transactions will pave the way for the introduction of more secure biometric and token-based prompts and the ultimate eradication of static passwords.
November 12, 2014 - The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.
November 12, 2014 - The U.S. Commodity Futures Trading Commission (CFTC) issued five Orders filing and settling charges against Citibank N.A. (Citibank), HSBC Bank plc (HSBC), JPMorgan Chase Bank N.A. (JPMorgan), The Royal Bank of Scotland plc (RBS) and UBS AG (UBS) (collectively, the Banks) for attempted manipulation of, and for aiding and abetting other banks' attempts to manipulate, global foreign exchange (FX) benchmark rates to benefit the positions of certain traders.
November 12, 2014 - The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ($343 million), JPMorgan Chase Bank N.A. £222,166,000 ($352 million), The Royal Bank of Scotland Plc £217,000,000 ($344 million) and UBS AG £233,814,000 ($371 million) ('the Banks').
November 12, 2014 - Increased security threats and data privacy issues considered the biggest challenges of connected devices.
November 10, 2014 - London's investment banks have gone on an IT hiring spree as the industry accelerates its investment in digital technologies and acts to replace staff lured away by the promises of riches from fintech startups, according to fresh data from recruitment outfit Astbury Marsden.
