Cybercrime has emerged as a major concern for UK financial services firms, rocketing security spending to the top of the technology investment agenda, according to a Lloyds Bank report.

Advances in technology and actionable real-time data are driving businesses to operate faster and smarter. Yet, business payments are often rooted in legacy practices established decades ago. Until now.

The chief executive of the Hong Kong Stock Exchange (HKEx) has conceded that the trading venue was subject to a series of cyber attacks this week but has insisted that an outage which brought derivatives trading to a halt was related to a software bug and not a hacker.

Accuity, the leading provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, and Chartis Research, the leading provider of research and analysis on risk technology markets, announced results of a study that revealed 66% of financial institutions face the significant challenge of achieving low false positive rates, putting unnecessary burden on their compliance departments and creating inefficiencies in their financial crime screening processes.

Seattle-based software engineer Paige Thompson faces up to 25 years in prison after being indicted on two counts related to the Capital One data breach that affected 106 million customers.

Australia's capital markets regulator has vowed to expand its use of new technology and behavioural data as part of a strategic plan to strengthen its enforcement.

Mastercard has notified regulators in Germany and Belgium about a loyalty programme data breach affecting the details of several thousand customers.