Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, has written to Rt Hon. Philip Hammond MP, Chancellor of the Exchequer, about cybersecurity in the financial services sector. Commenting on the correspondence, Mr Tyrie said: “The lines of responsibility and accountability for reducing cyber threats remain opaque.
A Russian hacker accused of helping to develop and maintain the notorious Citadel malware toolkit, which was used to steal more than $500 million from bank accounts, faces up to 10 years in a US prison after pleading guilty to computer fraud.
Having been extradited from Norway in December, this week Mark Vartanyan (who went by the online handle 'Kolypto') pleaded guilty in an Atlanta court. He will be sentenced in June.
MetricStream, the market leader in governance, risk and compliance (GRC) apps, has today released the results of a global survey revealing the current state of third party risk management. Respondents were from more than 40 organisations, across 15 industries – including financial services, retail, healthcare, pharmaceuticals and insurance.
Overcoming security concerns, the majority of financial services firms in the US and Asia Pacific have embraced cloud technology, won over by the potential for massive cost savings, according to research from IDC Financial Insights.
Banking cooperative Swift has unveiled a number of initiatives designed to address the compliance challenges facing banks and corporates. The unveiling came at a Swift Business Forum in Zurich where Swift executives, corporate treasurers and bankers addressed member banks on a range of topics, from financial crime compliance to Switzerland’s fintech scene.
US fintech giant First Data is strengthening its e-commerce hand through the acquisition of Atlanta-based Acculynk. Financial terms of the deal were not disclosed.
The move gives First Data access to Acculynk’s PaySecure debit routing technology, which allows merchants to process online debit payments through the most cost-effective available network.
The Center for Financial Professionals interviewed Dalit Stern, Director of Enterprise Fraud Risk Management, TIAA Financial Services, ahead of the 6th Annual Risk Americas Convention, where she provides insights in to the importance of measuring fraud through KRIs and metrics and more.
The Securities and Exchange Commission has charged two former iPayment executives with a scheme that allegedly saw them manipulate the credit card processing firm's accounting systems to steal millions of dollars.
