European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard.

The European Central Bank says EU financial institutions have an over-optimistic view of their IT resilience and resistance to cyber threats owing to an undue reliance on outsourcing and legacy wiring.

Stablecoins could be attractive to criminals and terrorists if they reach mass-adoption, warns the Financial Action Task Force (FATF) which nevertheless concludes that its revised standards can mitigate the risks - as long as these new coins are centralised.

Source: Verint

Verint Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company, and Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, have joined forces to provide the financial services market with a fully compliant, cloud-enabled communications solution to support traders both on the trading floor and remotely, providing necessary flexibility as the industry continues to move to cloud-based platforms and work-from-home environments during and beyond the COVID-19 pandemic.

Source: ACI Worldwide

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced that ACI Proactive Risk Manager and ACI Model Generator, part of ACI’s Payments Risk Management solution, can now be deployed in a private or public cloud environment by all existing customers globally.

Wells Fargo has banned TikTok from company devices, citing privacy and security concerns with the social media app.

Source: ISACA

Schaumburg, IL, USA (14 July 2020) – Effective governance and management of information security is necessary for achieving enterprise objectives. It can help enterprises build resilience and minimize the occurrence and impact of security breaches that can cause reputational damage, legal and regulatory risk, or even threaten their very survival. COBIT Focus Area: Information Security is the highly anticipated first focus area publication to launch under the COBIT 2019 umbrella, fulfilling its promise to make its guidance more flexible and practical to use.