Despite its site still being down two weeks after a ransomware attack, Travelex insists it "continues to make good progress with its technology recovery". Travelex services have been down since New Year's Eve. In a statement, the firm says it has restored some internal and order processing systems and is now moving onto customer-facing systems.
UK consumer electronics retail group Dixons Carphone has been fined £500,000 after hackers compromised its point-of-sale system and gained access to the details of 5.6 million payment cards.
Hackers are demanding a ransom from Travelex in return for giving the foreign exchange bureau back control of its IT systems and customer data. On New Year's Eve, Travelex was forced to pull the plug on its websites in 30 countries after discovering a software virus infection.
The US Government's increasingly belligerent confrontation with Iran has prompted New York's Department of Financial Services to urge banks to heighten cybersecurity precautions.
The Iranian government has vowed to retaliate against the United States for the death of Qassem Soleimani, the Middle East country's most prominent military commander.
Australian authorities have delayed the introduction of Open Banking rules by six months amid concerns over testing and security of the new provisions for account data sharing.
In the newly published 2019 Critical Capabilities for IT Vendor Risk Management Tools, Gartner has given ProcessUnity the highest scores for two Vendor Risk Management use cases most requested by Gartner clients.
A European Commission (EC) Expert Group has called on regulators to respond to the changing nature of fintech by adapting the rule book and legal frameworks to encourage innovation and dampen emerging risks.
Financial services companies in North America could unlock up to US$140 billion in productivity gains and cost savings by 2025 if they employ new technologies that help improve the efficiency and effectiveness of their workforces, according to a recent study by Accenture.
