The accounts of 34,942 PayPal users were hacked between the 2nd and 6th of December 2022 by unauthorised parties through a credential stuffing attack. Hackers potentially gained access to customers’ personal data, including their name, address, date of birth, tax ID number, and social security number.
The six largest US banks have been tasked by the Federal Reserve to analyse the impact of trial scenarios for both physical and transition risks related to climate change on real estate assets in their portfolios.
Coinbase will pay a $50 million penalty and invest another $50 million in its compliance programme to settle a New York State regulatory investigation into its anti-money laundering practices.
US regulators have warned banks to be on their guard against the risks posed by exposure to the crypto asset sector in the wake of the implosion of crypto-exchange FTX and heightened volatility in the market.
Security researchers are warning about the Godfather, an Android banking Trojan that has targeted the users of more than 400 apps.
Sam Bankman-Fried, the disgraced founder of collapsed cryptocurrency exchange FTX, has been arrested in the Bahamas.
Source: FCA
The FCA has fined Metro Bank PLC £10,002,300 for breaching the Listing Rules by publishing incorrect information to investors.
Source: McKinsey
As the fastest-growing start-up industry in Africa, African fintech raised over US$1,3 billion in 2021 alone, the success of fintech companies is being fuelled by several trends, including increasing smartphone ownership, declining internet costs, expanded network coverage, and a young, fast-growing, and rapidly urbanizing population.
