The mastermind behind the Carbanak and Cobalt malware attacks on over a 1000 financial institutions worldwide has been arrested in Alicante, Spain, after a complex investigation conducted by the Spanish National Police, with the support of Europol, the US FBI, the Romanian, Belarussian and Taiwanese authorities and private cyber security companies.
In operation since 2013, the crime ring behind the malware struck banks in more than 40 countries resulting in cumulative losses of over EUR1 billion for the financial industry.

Citi and Kabbage have signed on as founding members of a new industry consortium set up by the World Economic Forum to strengthen the cybersecurity of fintech firms and data aggregators.

Equifax has identified another 2.4 million US victims of the massive data breach the credit referencing firm suffered last year.

The US Department of Justice has indicted 36 alleged members of a cybergang accused of causing more than $530 million in losses through the acquisition and sale of, among other things, compromised debit and credit cards and banking information.

Cybersecurity takes top billing in the European Union's upcoming Fintech Action Plan, with a draft emphasising efforts to improve cooperation and coordination between market participants and regulators.

The World Federation of Exchanges (“The WFE”), the global industry group for exchanges and CCPs, has agreed its 2018 business priorities will focus on areas including regulatory coherence; CCP recovery & resolution issues; cyber security; FinTech; and SMEs.